Podcast terbaik Pharos (2024)

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Pre-Trading Thoughts 8:13

9h ago8:13

8:13

A member of the IMF mission in Cairo said to local media that the mission did not discuss with the Egyptian government an extension of economic reforms schedule, during the fourth review. Adding that the mission did not decide anything regarding postponing some reforms. Remittances from Egyptians working abroad increased 65.6% y-o-y in August to hi…

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Technical Analysis 2:44

10h ago2:44

2:44

Market Overview ETEL EFIH BTFH TMGH CIEB Prepared by: Mayada Amin- CETA, CFTeOleh Al Ahly Pharos

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Pre-Trading Thoughts 4:31

5h ago4:31

4:31

Annual urban inflation came almost flat in October, registering 26.5% YoY, up from 26.4% YoY in September. Monthly urban inflation decelerated to 1.1% MoM in October from 2.1% MoM in September. The Central Bank of Egypt will auction USD1.5 billion in USD-denominated, one-year t-bills today. The government now only has USD1 billion in outstanding ar…

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Technical Analysis 2:26

6h ago2:26

2:26

Market Overview COMI DSCW HELI TMGH Prepared by: Mayada Amin - CETA, CFTeOleh Al Ahly Pharos

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Pre-Trading Thoughts 6:03

1d ago6:03

6:03

The Supreme Constitutional Court ruled on Saturday that the 7% flat rate in the Old Rental Law for residential properties is unconstitutional and called on the Egyptian parliament to amend the law. The US Federal Reserve cut interest rates for the second time, this time by 25 bps, bringing them to 4.5%-4.75%. The Oil Ministry launched the Sustainab…

1
Technical Analysis 2:47

1d ago2:47

2:47

Market Overview GBCO ESRS SKPC JUFO TMGH Prepared by: Mayada Amin- CETA, CFTeOleh Al Ahly Pharos

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Pre-Trading Thoughts 6:23

4d ago6:23

6:23

CAPMAS is expected to release inflation figures for October on Sunday, 10 November. We expect urban annual inflation to hit around 27%. Net International Reserves recorded USD46.9 billion at the end of October 2024, up USD205 million from September’s USD46.7 billion. Investment Minister Hassan El Khatib will unveil the revamped privatization progra…

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Technical Analysis 2:48

4d ago2:48

2:48

Market Overview ORWE BTFH EKHOA EMFD ALCN prepared by: Mayada Amin- CETA, CFTeOleh Al Ahly Pharos

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Technical Analysis 2:35

5d ago2:35

2:35

Market Overview ADIB ESRS EKHOA ARAB prepared by: Mayada Amin- CETA, CFTeOleh Al Ahly Pharos

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Pre-Trading Thoughts 5:50

6d ago5:50

5:50

Cyprus’ Energy Minister Giorgos Papanastasiou said yesterday that his country is prepared to supply natural gas to Egypt to re-export to European marketsز Oil Ministry to unveil full incentives policy framework during the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2024) which is being held in the UAE until Thursday, Oil Min…

1
Technical Analysis 1:15

6d ago1:15

1:15

Market Overview Prepared by: Mayada Amin - CETA, CFTeOleh Al Ahly Pharos

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Pre-Trading Thoughts 5:57

7d ago5:57

5:57

The IMF will begin the fourth review of Egypt’s IMF loan program tomorrow. Three main areas will be subject to discussions during the review. The IMF team will be discussing green financing through its Resilience and Sustainability Facility next week. The government applied for an additional USD1.2 bn in long-term, low-cost climate financing from t…

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Technical Analysis 2:55

8d ago2:55

2:55

Market Overview COMI CIEB EKHOA ETRS ATLCOleh Al Ahly Pharos

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Pre-Trading Thoughts 4:33

8d ago4:33

4:33

IMF’s Managing Director Kristalina Georgieva kicked off talks with Egyptian officials, including Prime Minister Moustafa Madbouly and CBE governor Hassan Abdalla yesterday after landing in Egypt. The USD rose more than 0.4% against the EGP on Thursday to reach EGP48.94 to the greenback, marking its highest level since August. Budget deficit narrowe…

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Pre-Trading Thoughts 5:55

11d ago5:55

5:55

The IMF’s Managing Director Kristalina Georgieva will be in Egypt next week to discuss our USD 8 bn loan program, Prime Minister Moustafa Madbouly said. A delegation from the Fund will arrive directly following her visit in preparation for the program’s fourth review, Madbouly added. The government will be taking another look at its plan to sell of…

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Pre-Trading Thoughts 3:32

12d ago3:32

3:32

Prime Minister delivered a speech during the opening session of the Future Investment Initiative (FII) conference in Riyadh. The speech was about Egypt’s approach to securing sustainable and inclusive development, with a particular focus on empowering the private sector and further developing our energy sector, transport and infrastructure networks…

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Technical Analysis 1:56

13d ago1:56

1:56

Market Overview ESRS EAST CLHO prepared by: Mayada Amin - CETA, CFTeOleh Al Ahly Pharos

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Pre-Trading Thoughts 5:26

13d ago5:26

5:26

Finance Minister Ahmed Kouchouk said that while in Washington for the IMF and World Bank’s annual meetings he had expressed the government’s expectation that it would have “positive and constructive discussions” with the Fund during the fourth review of our loan program. The review, which if successfully passed will unlock USD 1.3 bn in funds, had …

1
Technical Analysis 2:14

13d ago2:14

2:14

Market Overview COMI TMGH ESRS CIEB prepared by : Mayada Amin - CETA, CFTeOleh Al Ahly Pharos

1
Pre-Trading Thoughts 3:46

14d ago3:46

3:46

Egypt is preparing three possible revisions to the loan agreement to present to the IMF delegation when they land in Egypt mid-next week. The first scenario proposes extending the loan program by two years so Egypt ends up having five years to implement the reforms and unlock the entire USD8 billion in funding. The second scenario would give the go…

1
Technical Analysis 2:20

14d ago2:20

2:20

Market Overview ALCN BINV EXPA EKHOA prepared by: Mayada Amin - CETA. CFTeOleh Al Ahly Pharos

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Pre-Trading Thoughts 4:48

15d ago4:48

4:48

In contrast to the IMF’s talk of being open to changing some of the terms of the loan agreement, Georgieva reiterated that “Egypt is better served by undertaking reforms sooner rather than later.” IMF Director Kristalina Georgieva stated that the Fund’s amendment to the basic and additional fees for programs and loans will save Egypt USD800 million…

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Technical Analysis 2:45

15d ago2:45

2:45

Market Overview BINV TMGH CCAP ORWE prepared by: Mayada Amin- CETA, CFTeOleh Al Ahly Pharos

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Pre-Trading Thoughts 5:19

18d ago5:19

5:19

The Prime Minister confirmed that the government is currently reviewing the timeline and reforms put forward by the Fund, pointing to the direct impact that the war on Gaza and the subsequent decline in Suez Canal revenues has had on state revenues as justification for the review. The Prime Minister said that the foreign exchange flows and the stat…

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Technical Analysis 2:00

20d ago2:00

2:00

Market Overview TMGH MFPC BINV Prepared by: Mayada Amin - CETA, CFTeOleh Al Ahly Pharos

1
Pre-Trading Thoughts 4:47

20d ago4:47

4:47

The IMF has kept our growth forecast for the current fiscal year unchanged at 4.1% in its updated World Economic Outlook. President Sisi met his Russian counterpart Vladimir Putin on the sidelines of the Brics Summit, which kicked off in Kazan yesterday. The conversation centered around Egypt’s role in the bloc, bilateral relationship, and regional…

1
Technical Analysis 2:32

21d ago2:32

2:32

Market overview BINV CIEB EPCO MFPC EMFD Prepared by: Mayada Amin- CETA, CFTeOleh Al Ahly Pharos

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Pre-Trading Thoughts 6:31

21d ago6:31

6:31

Pitch: Egypt Banking Sector| Rerating Is a Must The Egyptian banking sector is poised for remarkable performance as we approach the release of third-quarter results for 2024. The combination of anticipated extraordinary results amid high interest rates and the compelling valuation metrics makes the Egyptian banking sector a prime candidate for inve…

1
Technical Analysis 2:23

21d ago2:23

2:23

Market Overview SWDY TMGH GBCO JUFO BINV Prepared by: Mayada Amin- CETA, CFTeOleh Al Ahly Pharos

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Pre-Trading Thoughts 3:04

22d ago3:04

3:04

President Abdel Fattah El Sisi pointed to the economic pressures the nation is enduring as the country undergoes reforms as part of its loan agreement with the IMF. “If this challenge forces me to place unbearable pressure on the public, we must review the situation with the IMF,” El Sisi said. Finance ministers, central bank governors, and other b…

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Technical Analysis 1:21

22d ago1:21

1:21

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

1
Pre-Trading Thoughts 2:50

23d ago2:50

2:50

In line with our expectation, the MPC decided to keep the CBE’s overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged. The Ministry of Petroleum and Mineral Resources announced on Friday the third fuel price increase in 2024. However, prices of Mazut supplied to power plants and food industries have been kept …

1
Technical Analysis 2:37

23d ago2:37

2:37

Market Overview ORWE EKHO ADIB CSAG prepared by: Mayada Amin - CETA, CFTeOleh Al Ahly Pharos

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Pre-Trading Thoughts 7:42

26d ago7:42

7:42

We published today our earnings expectations sheet for companies under coverage in 3Q24/FY24/FY25: 1) In 3Q24, aggregated net profit is expected to increase 49% YoY and decrease 14% QoQ, 2) Aggregated net profit is expected to increase 53% YoY in FY24 and 15% YoY in FY25, 3) Stocks that are expected to witness a shift from net loss to net profit Yo…

1
Technical Analysis 2:33

27d ago2:33

2:33

ABUK ALCN TMGH ORAS EFID prepared by: Mayada Amin - CETA, CFTeOleh Al Ahly Pharos

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Pre-Trading Thoughts 5:39

28d ago5:39

5:39

The government will soon announce “important news” regarding the privatization of a number of banks and airports, Prime Minister Moustafa Madbouly said. Egypt’s external debt sat at USD152.9 bn during the end of FY2023/24, falling some USD15.1 bn (almost 9%). Egypt's import bill for petroleum products reached USD10.5 billion during 9M2024, compared…

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Pre-Trading Thoughts 2:58

29d ago2:58

2:58

The Financial Regulatory Authority has suspended issuing new licenses for companies seeking to operate in consumer finance or microfinance for one year. Egypt is looking to boost its natural gas production by 30% to 6 bn cubic feet of gas per day by the end of 2025. Kuwait is reportedly mulling converting its deposits in the CBE - USD4 billion - in…

1
Technical Analysis 1:27

29d ago1:27

1:27

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

1
Pre-Trading Thoughts 5:58

1M ago5:58

5:58

President Abdel Fattah El Sisi yesterday inaugurated the country’s newest and largest railway station, Giza’s Bashteel Station. The CBE’s MPC is scheduled to meet on Thursday, 17 October. We expect the CBE to prefer to hold rates unchanged in its upcoming meeting. The Suez Canal Authority has rolled out fresh incentives and facilities for yachts pa…

1
Technical Analysis 2:22

1M ago2:22

2:22

Market Overview Prepared by: Mayada Amin- CETA, CFTeOleh Al Ahly Pharos

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Pre-Trading Thoughts 4:40

1M ago4:40

4:40

Annual urban inflation slightly accelerated, registering 26.4% YoY in September, up from 26.2% in August. Finance Minister Ahmed Kouchouk unveiled the first phase of a package of tax facilities aimed at simplifying the tax system and easing the burden on taxpayers The revamped export subsidy program aims to enhance transparency by clearly reflectin…

1
Technically Analysis 2:17

1M ago2:17

2:17

Market Overview CLHO ETEL BTFH ALCN ORAS prepared by: Mayada Amin- CETA, CFTeOleh Al Ahly Pharos

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Pre-Trading Thoughts 3:02

1M ago3:02

3:02

*Key news articles for today* The government will announce a fresh package of tax facilities and investment incentives later today. Finance Minister said that he expects to see the facilities implemented before the end of the year. Minister of Transportation and Industry Kamel El Wazir said that president El Sisi ratified a decree to launch an init…

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Pre-Trading Thoughts 5:18

1M ago5:18

5:18

The House of Representatives preliminary approved government-drafted amendments to the law regulating how the Sovereign Fund of Egypt (SFE) operates. The MPs approved a presidential decree approving increasing our subscription to the IMF by 50% — which will be worth some USD1.4 bn and EGP48 bn. The MPs also approved a USD15 mn USAID grant to help u…

1
Technical Analysis 2:29

1M ago2:29

2:29

Market Overview FAIT JUFO EAST CLHO prepared by: Mayada Amin- CETA, CFTeOleh Al Ahly Pharos

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