Al Ahly Pharos

- Market Overview  - Prepared by: Mohamed Othman- CETA, CFTe

The EGX30 dropped 3.3% at yesterday’s close as global equity markets react to Trump's recent decisions. Other MENA capital markets fell too on the new tariffs and oil price plunge. The EGP fell just over 1% against the greenback in trading yesterday. The dip saw the EGP pass the 51-mark against the USD and slip to its lowest level since last year’s March float. The drop came amid global uncer...

- Market Overview  - Prepared by: Mayada Amin- CETA, CFTe

Net foreign assets in Egypt’s banking sector rose for a second month running, reaching USD10.2 billion in February, up 17.2% from January’s USD8.7 billion surplus. A narrower deficit at commercial banks helped lift the sector’s external position, with its net foreign asset deficit shrinking to USD1.9 billion in February from USD3.3 billion a month earlier. Egypt has received a USD1.2 billion disbu...

- Market Overview  - PHDC - HELI - ORAS - FWRY  - DSCW  - prepared by: Mayada Amin- CETA, CFTe

Trump announced what he said were “kind” reciprocal tariffs against more than 180 countries Wednesday, along with a baseline tariff against other countries. Among the list was Egypt, at a 10% tariff charged. Egypt's non-oil private sector entered contraction territory in March, following improvements in business conditions in January and February. The headline PMI fell from 50.1 in February t...

- Market Overview  - ALCN - SKPC - FWRY  - EGAL - PHDC - prepared by: Mayada Amin- CETA, CFTe

The government will announce the revamped export subsidy program within weeks, Prime Minister Moustafa Madbouly said during his weekly presser yesterday The three-year program is expected to come into effect with the new fiscal year on 1 July. Egypt’s interest payments on debt rose by 18.4% to EGP 939 bn in 1H FY 2024-25, according to the Finance Ministry’s Monthly Finance Report. Interest payment...

- Market Overview  - KRDI - SKPC - FWRY  - ABUK  - AMER - prepared by: Mayada Amin- CETA, CFTe

*Key news articles for today* The International Finance Corporation (IFC) unveiled the list of 11 Egyptian airports slated for development through public-private partnerships (PPP). China’s Wu’an Xin Feng signed the contract for its USD1.7 bn integrated metal industries complex in the Ain Sokhna industrial zone with the government yesterday.  The Egyptian Electric Utility and Consumer Protection R...

- Market Overview - SKPC - CIEB  - GBCO - JUFO - MASR - Prepared by: Mayada Amin- CETA, CFTe

The Madbouly government has formed new committees to address the effects of Trump’s tariffs — direct and indirect. The committees are tasked with conducting a comprehensive review of Egypt’s customs to adapt to recent global developments and, particularly, the tariffs imposed by some countries in response to US tariffs, a senior government official said.  US President Donald Trump said auto tariff...

- Market Overview  - ORAS - EFIH - prepared by: Mayada Amin- CETA, CFTe

Gas output dropped 20% y-o-y to 4.3 billion cubic feet per day (bcf/d) in January, marking its lowest monthly level since December 2016. Dana Gas, one of the key producers in the Nile Delta, plans to launch a USD100 million project to develop production after receiving the rest of its outstanding dues.  The European Union has agreed to fast-track the approval and disbursement of the second phase o...

- Market Overview  - COMI  - MTIE - ETRS - PHDC - EMFD - Prepared by: Mayada Amin- CETA, CFTe

Foreign holdings of public debt have returned to their pre-December levels, reaching approximately USD38 billion, the rise in demand from foreign investors is attributed to declining inflation figures coupled with expectations of an interest rate cut from the CBE in April. Kuwait is looking to increase its investments in Egypt to USD5.3 billion by the end of the year, equal to a 20% jump in the GC...

- Market Overview  - ABUK  - CLHO - COMI - EMFD - EFIH - Prepared by: Mayada Amin- CETA, CFTe

*Key news articles for today*   The state has appointed an advisor to value Banque du Caire, Prime Minister said during his weekly presser yesterday. “The last valuation has become outdated,” Madbouly said, adding that work on the process has begun. The state will then decide on the size of the stake to offer, either to a strategic investor, or through a stake sale on the EGX, he said. The US Fede...

- Market Overview  - EXPA  - PHDC - prepared by: Mayada Amin- CETA, CFTe

*Key news articles for today*   The government is expected to raise fuel prices in April as it works to phase out fuel subsidies. The anticipated move is part of the government’s plan to have energy prices reach cost recovery levels by the end of the year. The committee is expected to raise prices by EGP1-1.25 to narrow the gap between selling prices and production costs, the source said. Diesel i...

- Market Overview  - TMGH - MASR - HELI - PHDC - AMER - Prepared by: Mayada Amin- CETA, CFTe

Indian chemicals producer TCI Sanmar has plans to invest an additional USD300 million into its Egypt operations. Feedgas deliveries to the Damietta and Idku liquefaction plants have been recently increasing, with unnamed sources telling Bloomberg that Egypt could export its first LNG shipment from Idku within a year. A delegation from the Investment Ministry will meet with EU representatives to di...

- Market Overview  - COMI - EFIH - ORAS - CLHO  - LCSW - prepared by: Mayada Amin- CETA, CFTe

Egypt is expected to receive four LNG shipments by April, as the country looks to build up a strategic gas reserve. The Sovereign Fund of Egypt is conducting a comprehensive review of the privatization program that could see it expand the program to 40-60 state-run companies. Chinese textile manufacturer Jiangsu Guotai signed an agreement to set up a USD10 million readymade garment factory in the...

- Market Overview  - HELI  - EFIH  - AMOC - ADIB - MTIE  Prepared by: Mayada Amin- CETA, CFTe