Pre-Trading Thoughts

The Japan International Cooperation Agency (JICA) will soon disburse a USD300 million tranche from its USD733 million loan to finance the construction of the first phase of Cairo Metro Line 4. The Ministry of Electricity and Energy and the Ministry of Petroleum and Mineral Resources announced that the duration of power cuts nationwide will be extended by one hour on Sunday and Monday. The USD rose above 48 EGP for the first time since April, jumping by around EGP0.70 yesterday. The rate...