Egypt’s petroleum sector returns to growth for the first time since 2023

Good morning, folks.

The first batch of temporarily listed state companies is expected to begin trading in 4Q

Don’t miss our Coffee with former FRA and GAFI chairman and former Deputy Prime Minister for Economic Development Ziad Bahaa-Eldin

On the investment front:

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Petroleum sector turns corner

The petroleum sector returned to growth for the first time since 1Q 2023/24 cabinet statement

Why it matters: repaying USD 6.1 bn in arrears flexible R-Factor profit-sharing mechanism campaigns

A hard deadline for Al Hamra

The Oil Ministry expects to wrap up the USD 457 mn expansion of Wepco’s Al Hamra Petroleum Port in New Alamein by December Arabic press

IN CONTEXT- new pipeline started working USD 3 bn oil logistics zone three agreements

The country’s four mobile operators will receive new frequencies starting next month earlier this year Arabic press

Why it matters: in 2024

GO DEEPER– last year

The government plans to launch its new customs tariff in July

Buy the basket, short the stock

The bourse is reviewing four requests to establish investment funds that track EGX equity indices Al Borsa

The applications would add to a lineup of 11 approved index-tracking funds

Another brick in the derivatives wall: beyond CIB and TMG

ICYMI- in the works for some time

The government has launched a campaign to reclaim unutilized land plots and industrial units from non-serious investors statement

Hoarding land triggered a five-fold price hike:

WEATHER- The heatwave lingers in Cairo today

It’s a bit cooler in Alexandria

The big story abroad

The U S and Iran h ave reportedly agreed (once again) to cease strikes

Meanwhile, sovereign funds may be getting bolder: say they plan to double down AI-led paradigm shift in investment

But… is private credit on a stable path? pumping USD bns

Is defense heading towards mass production? developing modular workshops

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