Pre-Trading Thoughts

Saudi Arabia is looking to turn its deposits with the CBE into investment. The recently-approved USD820 million tranche from the IMF has officially landed in state coffers, Prime Minister Moustafa Madbouly said on Thursday. The government is reportedly planning to import up to 17 shipments of LNG in 4Q24 to ensure the lights stay on after an extended period of power cuts. The government is planning to set up an industrial zone focused on chemical and plastic industries in Alexandria. Local ba...