Inflation forecast for March 2022: We expect annual urban inflation to record 11.3% YoY, and 2.9% MoM, on surging food items, tobacco, housing and fuel, and miscellaneous goods & services after EGP depreciation and the higher impact of global inflation.

Foreign exchange resources available at Egyptian banks improved on the back of the demand for the 18% CDs offered by NBE and Banque Misr, which succeeded to attract EGP443 billion.

Egypt saw a rise in wheat imports from Russia in March to 479k tons (+24%YoY); Ukrainian wheat imports were 124.5k tons (-42% YoY).

S&P Global Ratings: Egypt will become the biggest issuer of sovereign debt in EMEA this year, which forecasts the country to sell USD73 bn in bonds.

S&P Global Ratings: The impact of the currency devaluation on banks is set to be limited given that foreign-currency lending accounts for only 20% of the loan books. Credit losses in the sector could pick up on the back of turbulence in the wider economy. The 18% CDS offered by state-owned banks in Egypt will put pressure on the banks’ NIMs.

HELI received offers from bidders interested in leasing an 11k sqm plot (with BUA of 1k sqm) located within the Merryland Park and is currently studying the offers.

DOMT BoD have given "Expeditions Investments" the green light to start the due. DOMT is appointing an independent financial advisor to determine the fair value of the company's. Offer reflects multiples of FY22 P/E of 7.6x, an EV/EBITDA of 6.9x, and a P/B of 1.5x.

The Cabinet is appointing committees to review the compatibility of the drafted local automotive industry support strategy with the relevant laws currently in effect.

Egyptian building materials exports increased by 29% YoY during the first two months of 2022 to record USD1.19 billion. Recent weeks have also witnessed a surge in metal exports from Egypt, especially steel, supported by European countries' tendency to meet their importation needs from new markets in light of the Russian-Ukrainian war.

The total value of financial leasing contracts recorded EGP3.6 billion in January 2022, compared to EGP5.4 billion in January 2021 (-32.2% YoY).

EFIH to distribute cash dividends of EGP0.10/share (EGP177.7 million) implying a DY of 0.56% and a payout ratio of 34.2% of 2021 net profit. Record date is 18 April 2022 while distribution date is 21 April 2022.