Pre-Trading Thoughts

Egypt's PMI recorded 49.7 in July, down from 49.9 in June. The July reading is the second-highest in almost three years. Customs collections from the expatriate car program increased to more than USD850 million by the end of last July. Chinese smartphone maker Honor is reportedly considering setting up a factory to produce its devices in Egypt, with initial investment of USD10 million. Cabinet’s National Center for Planning State Land Uses and the Federation of Egyptian Industries are l...