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Pre-Trading Thoughts
- The CBE decided to keep interest rates unchanged at 8.25% and 9.25% for overnight deposit and lending rates respectively, citing inflation pattern, pick-up in domestic economic activity and continuation of global recovery from COVID-19.
- Quantities transported from natural gas reached 66.7 billion cubic meters, of which 62.1 billion cubic meters for local market and 4.6 billion cubic meters for exporting, which amounts to 142% growth YoY in FY20/21.
- President El Sisi issued a decree forming the Coordination Council between the CBE's monetary policy and the government's fiscal policy, headed by the Prime Minister.
- The Ministry of Finance allowed exporting companies in the ceramic, pharmaceutical and automobile sectors to apply to join phase 4 of the instant cash payment initiative to support exporters.
- Fawaz Abdulaziz Alhokair & Co., a company listed on the Saudi stock market, submitted an offer to HRHO to buy a stake of 10% in its subsidiary Valu in addition to cooperating with HRHO to launch Valu services in the Saudi market next year.
- HELI is meeting today with the representatives of the three bidders (Majid Al Futtaim, Hassan Allam Properties, and Mountain View) for the co-development of HELI’s 1,695 feddan Heliopark land plot to update their offers, HELI would select the winner early next year.
- EMFD plans to start the construction works of “Belle Vie” project, on an area of 500 acres in the new Sheikh Zayed City.
- Nakhla Tobacco Co. (JTI), British American Tobacco, and Al-Mansour International for Distribution Group have sent a joint statement for The Chamber of Food Industries informing them of their withdrawal from the new license auction.
- e-Aswaaq, a subsidiary of e-finance, has set up the online portals to buy entry tickets for the Giza Pyramids, as well as several electronic gates at the entrance of the pyramids.
- Average occupancy rate at hotels across the Red Sea are expected to reach 70-75% by the end of 2021, while Sinai hotels could end the year with an average occupancy rate of 55-60%.
- The number of hotels that resumed their activities until mid-December reached 900, representing 75% of the total number of hotels registered with the Ministry of Tourism.
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By Al Ahly Pharos- The CBE decided to keep interest rates unchanged at 8.25% and 9.25% for overnight deposit and lending rates respectively, citing inflation pattern, pick-up in domestic economic activity and continuation of global recovery from COVID-19.
- Quantities transported from natural gas reached 66.7 billion cubic meters, of which 62.1 billion cubic meters for local market and 4.6 billion cubic meters for exporting, which amounts to 142% growth YoY in FY20/21.
- President El Sisi issued a decree forming the Coordination Council between the CBE's monetary policy and the government's fiscal policy, headed by the Prime Minister.
- The Ministry of Finance allowed exporting companies in the ceramic, pharmaceutical and automobile sectors to apply to join phase 4 of the instant cash payment initiative to support exporters.
- Fawaz Abdulaziz Alhokair & Co., a company listed on the Saudi stock market, submitted an offer to HRHO to buy a stake of 10% in its subsidiary Valu in addition to cooperating with HRHO to launch Valu services in the Saudi market next year.
- HELI is meeting today with the representatives of the three bidders (Majid Al Futtaim, Hassan Allam Properties, and Mountain View) for the co-development of HELI’s 1,695 feddan Heliopark land plot to update their offers, HELI would select the winner early next year.
- EMFD plans to start the construction works of “Belle Vie” project, on an area of 500 acres in the new Sheikh Zayed City.
- Nakhla Tobacco Co. (JTI), British American Tobacco, and Al-Mansour International for Distribution Group have sent a joint statement for The Chamber of Food Industries informing them of their withdrawal from the new license auction.
- e-Aswaaq, a subsidiary of e-finance, has set up the online portals to buy entry tickets for the Giza Pyramids, as well as several electronic gates at the entrance of the pyramids.
- Average occupancy rate at hotels across the Red Sea are expected to reach 70-75% by the end of 2021, while Sinai hotels could end the year with an average occupancy rate of 55-60%.
- The number of hotels that resumed their activities until mid-December reached 900, representing 75% of the total number of hotels registered with the Ministry of Tourism.
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