Pre-Trading Thoughts

The National Council of Wages raised the minimum wage for private sector workers by 71% to EGP6,000 starting in May. The Central Bank of Egypt is looking into imposing fines on importers who refuse to move their goods from ports even after receiving the required FX to do so. The Libyan Investment Authority is reportedly looking into acquiring a majority stake or 100% of an unnamed Egyptian commercial bank. The proceeds of FX concessions at three exchange companies affiliated with the three la...