Pre-Trading Thoughts

Federal Reserve Chairman confirmed that smaller interest rate increases are likely ahead and could start in December. Remittances from Egyptians abroad are set to rise 2.5% this year, according to the World Bank’s latest forecast. The International Islamic Foundation affiliated with the Islamic Development Bank is close to activating the USD6 billion financing agreement with the Egyptian government. ESRS raised the price of rebars by EGP800/ton to EGP20,450/ton (including VAT) as of December ...