Pre-Trading Thoughts

Egypt is looking to secure a USD 1 bn — or its equivalent in another currency — soft loan from the Brics’ New Development Bank (NDB) by the end of 2024 or the beginning of 2025. The government is also in talks with the NDB over the issuance of local currency-denominated bonds. The government will reportedly launch its new export subsidies program starting in July. The EGX will today launch Egypt’s maiden shariah-compliant index after getting the approval from the Financial Regulatory Au...