Pre-Trading Thoughts

President Abdel Fattah El Sisi received a phone call from IMF Managing Director yesterday, discussing the government’s economic reform program. New rules making it easier for foreigners to get citizenship were signed into law by El Sisi, including the purchase of real estate units for a value of USD350k. TMGH is a key beneficiary. The cabinet approved a recent decision by the Interior Ministry to amend the Investment Act regulations to allow foreign investors to acquire ye...