Pre-Trading Thoughts

The National Wages Council decided to raise the minimum wage for private sector workers to EGP7k a month, up from EGP6k, starting March. The Council also set the value of the bonus granted to employees at no less than 3% of their social insurance wage with a floor of EGP250 per month. Hong Kong-listed United Energy Group (UEG) inked a sale and purchase agreement to fully acquire Apex's upstream oil and gas exploration and production operations in Egypt for an undisclosed sum. A consortium of ...