Beste Al Ahly Pharos podcasts (2024)

Egypt and Turkey seek to boost trade from USD5 billion to USD15 billion over the next five years. The two countries signed 18 MoUs to strengthen cooperation on transport, energy, defense, education, tourism, health, culture, agriculture, and finance. The Central Bank of Egypt’s (CBE) Monetary Policy Committee is meeting later today to review intere…

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Technical Analysis 2:12

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Market Overview JUFO FWRY ALCN ABUK OLFI prepared by: Mayada Amin - CETA, CFTeDoor Al Ahly Pharos

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Pre-Trading Thoughts 1:56

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*Key news articles for today* BP plans to invest USD400 million during the current fiscal year to drill two new wells at the Raven natural gas field in its North Alexandria concession. The two wells will add a combined daily 400 million cubic feet of gas to its output. The ratio of external debt service to public revenues increased during the last …

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Pre-Trading Thoughts 3:46

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*Key news articles for today* The headline PMI rose in August to 50.4, rising from 49.7 in July, to signal the first improvement in the health of the non-oil private sector since November 2020. The industry, transport, and investment ministries are mulling the creation of a freezone for African investors as part of the government’s long-term goal o…

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Technical Analysis 1:59

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Market Overview ABUK JUFO SWDY prepared by: Mayada Amin - CETA, CFTeDoor Al Ahly Pharos

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Pre-Trading Thoughts 4:18

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UAE’s Masdar, Infinity Power, and Hassan Allam Utilities will set up USD900 million worth of solar power plants in Upper Egypt with a combined capacity of 1 GW after the government greenlit the move, according to media. Tunisian-owned oil and gas company HBS International plans to invest USD65 million in gas development and production in the southw…

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Technical Analysis 2:19

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Market Overview ABUK EGCH SKPC ORAS MASR prepared by: Mayada Amin- CETA, CFTeDoor Al Ahly Pharos

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Pre-Trading Thoughts 4:07

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The MPC will meet on Thursday, 5 September, to decide on key interest rates. We expect the CBE to keep the current rates on hold in its upcoming meeting on 5 September, with a potential rate cut in 4Q24, or - more conservatively - in 1Q25. Net foreign asset surplus expanded 3.5% to USD13.3 billion in July, up from USD12.9 billion in June. The gover…

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Technical Analysis 2:29

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Market Overview EFIH EMFD TMGH MASR prepared by: Mayada Amin - CETA, CFTeDoor Al Ahly Pharos

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Pre-Trading Thoughts 5:13

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Work is underway to make it possible for the government to commit to monthly payments to foreign companies working in the oil and gas sector, according to a cabinet statement, in a bid to boost investor appetite. The Finance Ministry will set up a central unit to facilitate customs and tax procedures for companies involved in automotive manufacturi…

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Technical Analysis 2:18

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Market Overview SWDY ESRS ABUK GBCO EAST prepared by: Mayada Amin- CETA, CFTeDoor Al Ahly Pharos

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Pre-Trading Thoughts 4:53

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Head of the Trade Ministry's Commercial Representation Authority discussed potential investments in Egypt with representatives from major Indian companies. The IMF said that Egypt may abandon quarterly fuel price increases in exchange for a firm commitment to raise prices to levels “Cost recovery” by the end of the year. The Ministry of Finance is …

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Technical Analysis 3:02

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Market Overview BTFH GBCO ETEL TMGH ATQA prepared by: Mayada Amin- CETA, CFTeDoor Al Ahly Pharos

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Pre-Trading Thoughts 2:03

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The International Monetary Fund is set to conduct the fourth review of our USD8 bn loan program by the end of September or in October at the latest. The state is reportedly studying a plan to provide EGP1.25k in cash assistance per family, while reducing the number of goods subsidized under the ration card system. The General Authority for Investme…

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Technical Analysis 2:20

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Market Overview HRHO ORAS FWRY prepared by: Mayada Amin- CETA, CFTeDoor Al Ahly Pharos

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Pre-Trading Thoughts 3:18

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A consortium of the UAE’s Al Shafar General Contracting (ASGC) Group and Saudi Egyptian Developers (SED) has backed out of an agreement to work on the USD5 billion redevelopment of the former National Democratic Party (NDP) headquarters in central Cairo due to increased construction costs following the EGP float. Alexandria Port Authority is gearin…

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Technical Analysis 1:49

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Market Overview SKPC ESRS FWRY prepared by: Mayada Amin- CETA, CFTeDoor Al Ahly Pharos

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Pre-Trading Thoughts 3:02

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The Cabinet approved presidential decrees regarding three financing agreements with the EU, which will see Egypt unlock over EUR1 billion in funding. The state aims to add 28 GW of renewable energy to the country’s energy mix over the next 5-7 years. The government plans to announce “revolutionary” tax reforms next month, Prime Minister said, addin…

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Technical Analysis 3:03

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Market Overview BINV ORHD GBCO TMGH PHDC Prepared by: Mayada Amin - CETA, CFTeDoor Al Ahly Pharos

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Pre-Trading Thoughts 2:17

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There are no enforced FX withdrawal limits in the works. “Each bank has the discretion to determine its policy” for FX withdrawals, the CBE said in a statement yesterday following reports that led to online speculation that enforced limits are in the works. Prime Minister Moustafa Madbouly yesterday presided over a meeting where government official…

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Technical Analysis 1:51

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Market Overview GBCO EAST BTFH Prepared by: Mayada Amin- CETA, CFTeDoor Al Ahly Pharos

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Pre-Trading Thoughts 3:30

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The government is set to hike electricity prices for the industrial sector. The price will rise by EGP0.55 per kWh to EGP1.94 per kWh, with the 39.6% increase slated to come into effect this month. Electricity tariffs will not be raised for low-voltage industries to cushion small- and medium-sized enterprises. The government is looking into raising…

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Technical Analysis 2:04

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Market Overview COMI ADIB GBCO FWRY ESRS Prepared by: Mayada Amin- CETA, CFTeDoor Al Ahly Pharos

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Technical Analysis 2:54

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Market Overview MFPC PHDC AMOC SKPC ARAB prepared by: Mayada Amin- CETA, CFTeDoor Al Ahly Pharos

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Pre-Trading Thoughts 5:04

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The Electricity Ministry has completed its study on increasing electricity prices, with plans to introduce the hike in September following cabinet approval. Foreign investments in treasury bills increased last May by about USD2.04 billion, reaching USD37.5 billion at the end of May, compared to USD35.46 billion at the end of April. The Ministry of …

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Pre-Trading Thoughts 4:08

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AD Ports’ Noatum has acquired a majority stake in maritime, logistics, and cargo services provider Safina Shipping Services. Egypt’s unemployment rate fell to 6.5% of the total workforce in the second quarter of this year, falling 0.2 percentage points from the previous quarter. Renewables firm Infinity Power, Emirati state-run renewables giant Mas…

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Technical Analysis 3:21

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Market Overview COMI CIEB ADIB BTFH FWRY ALCN MFPC SKPC DSCW prepared by: Mayada Amin - CETA, CFTeDoor Al Ahly Pharos

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Pre-Trading Thoughts 8:13

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The cabinet has approved a resolution regarding the issuance of executive regulations for the hospital privatization bill. The cabinet approved a draft resolution to set up the National Council for the Localization of Chip and Solar Cell Tech Production The cabinet approved the suspension of the 14% agricultural land tax (known as the mud tax) for …

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Pre-Trading Thoughts 7:16

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Foreign investors' transactions returned to record net purchases of bills and bonds during yesterday's trading, Tuesday, for the first time after a selling wave that lasted 8 sessions. Their net purchases of treasuries yesterday amounted to about USD160 million. The Finance Ministry raised some EGP50.3 bn worth of three-month T-bills this week at a…

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Technical Analysis 1:50

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Market Overview CLHO HRHO MPRC ACGC prepared by: Mayada Amin- CETA, CFTeDoor Al Ahly Pharos

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Pre-Trading Thoughts 4:32

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Egypt is looking to attract some USD2 bn in foreign direct investment from EU countries in its industrial sector by the end of 2024. Also, Egypt seeks to increase its exports to the EU by 10% by the end of this year, rising from EUR11.5 bn in 2023, to EUR12.6 bn in 2024. The CBE sold EUR610 mn one-year treasury bills on Monday, with an average yiel…

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Technical Analysis 1:39

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Market Overview COMI prepared by: Mayada Amin- CETA, CFTeDoor Al Ahly Pharos

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Technical Analysis 3:12

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Market Overview JUFO ALCN ADIB EXPA CIEB FWRY EFIH SKPC Prepared by; Mayada Amin- CETA, CFTeDoor Al Ahly Pharos

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Pre-Trading Thoughts 2:25

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Egypt's annual urban consumer price inflation eased to 25.7% in July from 27.5% in June. The Central Bank of Egypt is looking to raise some EUR600 million from auctioning off one-year EUR-denominated treasury bills. The hot money outflows last week, triggered by the global markets meltdown, represented no more than 7-8% of foreign investors’ holdin…

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Technical Analysis 3:08

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Market Overview RMDA CIEB ADIB HRHO ALCN ARAB prepared by: Mayada Amin- CETA, CFTeDoor Al Ahly Pharos

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Pre-Trading Thoughts 2:22

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Remittances from Egyptians abroad rose 65.9% y/y in June, recording USD2.6 billion. On a monthly basis, remittances were down 3.7%. The government sees the economy growing at a 5.5% clip during the fiscal year 2026-27 and 6.5% in 2030, according to a cabinet statement. The Madbouly government sees the economy growing 4.2% during the current fiscal …

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Technical Analysis 3:47

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Market Overview COMI RMDA CIEB HRHO ESRS EAST JUFO AFDI PRCL Prepared by: Mayada Amin-CETA, CFTeDoor Al Ahly Pharos

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Pre-Trading Thoughts 2:23

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Finance Minister Ahmed Kouchouk held a presser. Among his remarks: The government rationalized public spending by 2.2% of GDP, brought down the budget deficit to 3.6%, and achieved a primary surplus of 6.1% during the last fiscal year. The government wants to reduce debt servicing to 35% of total government spending over the medium term. Tax revenu…

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Technical Analysis 2:05

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Market Overview COMI ADIB ORWE ALCN ESRS Prepared by: Mayada Amin - CETA, CFTeDoor Al Ahly Pharos

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Pre-Trading Thoughts 2:04

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The EGP was changing hands at an average of 49.2 to the greenback — its lowest level since March. Foreign investors reportedly sold some USD600 mn worth of local debt instruments over the past two days. Foreign investments in Egyptian treasuries in July reportedly recorded USD900 mn. The Ministry of Petroleum aims to increase Egypt’s production of …

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Technical Analysis 2:46

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Market Overview COMI ADIB HRHO EFIH ORWE ALCN Prepared by: Mayada Amin - CETA, CFTeDoor Al Ahly Pharos

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Pre-Trading Thoughts 2:37

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Egypt's PMI recorded 49.7 in July, down from 49.9 in June. The July reading is the second-highest in almost three years. Customs collections from the expatriate car program increased to more than USD850 million by the end of last July. Chinese smartphone maker Honor is reportedly considering setting up a factory to produce its devices in Egypt, wit…