Al Ahly Pharos Al Ahly Pharos

The CBE sold yesterday 3-years T-bonds worth EGP5 billion, more than the EGP4 billion originally targeted. Yields averaged 24.83%, lower than 24.98% in the last auction.The government is planning a 20% payment of international oil companies’ dues during June 2024. Current dues reached USD4.5 billion after the payment of USD1.5 billion last March. Egypt’s production of natural gas increased by 4.8% MoM to 4.49 bcf in March 2024. However, production decreased by 15% YoY. On the other hand,...

Market Overview PHDCORHDISPHESRSprepared by: Mayada Amin- CETA, CFTe

The government is planning to offer up incentives to investors looking to invest in tourism projects that will wrap up construction before June 2026.A source at the General Authority for Investment and Free Zones revealed that the Authority is in the process of establishing 4 environment-friendly investment zones by 2030, with investments of EGP5 billion.The House gave final approval to the Unified Insurance Law, which will draw up new and comprehensive rules for regulating the Insurance indu...

Market Overview

The CBE's Monetary Policy Committee is meeting on Thursday 23rd May to decide on interest rates. We expect the CBE to keep rates unchanged in its upcoming meeting, as our forecasted inflation readings for the upcoming period suggest that there is a disinflation path that is expected to be maintained during most of the upcoming months of the year, gradually eroding the negative real interest rate area. Egypt’s 5-year CDS rates fell during Friday trading to record 5.45%, the lowest level s...

Market Overview ABUKEKHOAORAS ESRSTMGHPrepared by: Mohamed Othman - CETA, CFTe