Pre-Trading Thoughts

US Federal Reserve starts its two-day policy meeting today. The consensus is that the Fed will go ahead with a second consecutive 75-bps rate hike to control inflation. Egypt, Jordan, the UAE, and now Bahrain, have identified USD3.4 billion worth of joint investment projects in the first phase of a USD10 billion industrial partnership signed in May. EGX officials have held a series of meetings with state-owned institutions in a bid to increase the amount of domestic institutional money ...