EGX rolls out new rules for index-tracking investment funds

Good morning, friends.

We have two major — and worrying — macro stories to digest today.

But pleasant news comes from the EGX

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Index fund countdown begins

The EGX rolled out new rules for investment funds tracking its indices bourse f iling (pdf)

The new framew ork also adds a ticking clock to product launches.

“There is genuine demand from retail investors for index tracking

IN CONTEXT- investment fund industry

CBE steps out, SFE steps in

The Sovereign Fund of Egypt (SFE) plans to take a 10-20% stake in two new industrial investment funds with targete d capital of EGP 5 bn Arabic press July tar get

USD 4.6 bn — that’s Egypt’s trade deficit for March foreign trade report

If you were traveling to Kuwait today, your trip may have been canceled. citing said

It’s a little cooler in Alexandria

And over the weekend

The big story abroad

We have a slew of updates on the regional conflict. voted to block still requires

Is headway being made? has said

More strikes: targeted

ALSO- Lebanon and Israel have agreed to a ceasefire.

Meanwhile, Uber is reportedly plugging some USD 500 mn into Nuro, a self-driving startup.

SpaceX’s IPO isn’t the only offering making headlines: reportedly tapped