Pre-Trading Thoughts

Moody's has affirmed Egypt's credit rating at B2 and changed the outlook to negative from stable, reflecting the rising risks of a significant narrowing in the foreign exchange reserve buffer to meet upcoming external debt service payments. The Prime Minister is leading a delegation of ministers and senior officials to the Emirati capital where they will launch a new industrial partnership with the UAE and Jordan in Abu Dhabi. Emirati investors could increase their investments in Egypt ...