Pre-Trading Thoughts

Egypt expected to be back to JPMorgan’s emerging-market sovereign bond index by January 31, 2022 with an index weight of 1.85%

Egypt’s LNG exports are set to rise as shipments from the Idku liquefaction plant and the recently revived Damietta plant ramp up

Suez Canal revenues recorded USD4.86 bn YTD in 2021 (+12.4% YoY)

Egypt looking to tap international debt markets again in February or March 2022

Government on track to complete the procedures required to issue sovereign sukuks by 2Q2022

Foreign holdings of Egypt’s debt currently stand at around USD30 bn

MoF targeting the reduction of debt service burden to 32% of fiscal expenditures from the current 38%

Egypt and Greece are set to agree on building an undersea cable through which Egypt will export surplus electricity to Greece

A strategic investor is looking to acquire a 10% stake in e-finance
 
Egypt’s banks will adopt the Tax Authority’s e-invoicing system (e-finance)
 
Aman (RAYA) has obtained an SME lending license from the FRA

ORAS announces that its consortium  signed an agreement to develop, construct and operate a 500 MW wind farm in Ras Ghareb, ORAS will have a 25% stake in the project

EGAL has raised ex-factory prices to EGP55-66k per tonne

SKPC has submitted a request to EGX to increase the issued capital of the company, and to amend the company's name, purpose and legal domicile

Egytrans has won a tender for the transportation of train cars in the New Administrative Capital

Sugar prices soar to EGP10,000/ton

MCQE is to distribute a DPS of EGP0.25/share;  DY of 1.6%