Pre-Trading Thoughts

S&P Global Ratings has affirmed Egypt’s BB credit rating with a stable outlook on the back of expectations that fresh financial support from the IMF and the GCC will help Egypt meet external funding needs for FY 2022-2023, which total around USD 18 bn. Egypt attracted USD6.5 bn in inbound M&A in 9M2022, making it third-biggest destination in the MENA region after the UAE and Saudi Arabia. The Petroleum Fuel Pricing Committee left fuel prices unchanged at its latest quarter...