Pre-Trading Thoughts

The OPEC Fund for International Development (OPEC Fund) is providing Egypt USD10 mn to finance imports of vital food and agricultural commodities. The loan is part of a USD200 mn trade finance facility with the International Islamic Trade Finance Corporation (ITFC) supporting food security in Egypt. Global growth will slow to 2.7% in 2024 from an expected 3.0% this year on the back of tightening global financial conditions and a slowdown in China, according to new OECD forecasts. Saudi Arab...