Pre-Trading Thoughts

· Fitch Rating said that Egyptian banks’ Viability Ratings (VRs) could come under pressure, if the banks’ foreign assets continue to drop. · A group of Gulf banks completed arranging a USD3 billion joint loan for Egypt, equally divided between Islamic and green financing, for a period of 3 years. · Egyptian Tax Authority said that a draft law approved by Cabinet imposes a lump-sum tax on real es...