FX markets watched the ECB closely, taking in comments by the ECB President Christine Lagarde before making a further call on the outlook for the dollar. It is also instructive to note that the cash price of copper over its 3m equivalent has widened ...

The FX markets have seen a strong rotation to the traditional safe haven currencies over the past 24 hours as the market focuses squarely on the risks associated with the rising Delta COVID-19 variant cases across the globe. Note that Kenya’s public ...

CIRA recorded an exceptional topline of EGP511 million in 3QFY20/21 (+31.5% QoQ and 57.2% YoY), 24% higher than our expectations of EGP412 million. K-12 revenues for the 9MFY21 amounted to EGP542 million, up 6.5% YoY as the increase in tuition fees (...

QNBA 2Q21net profit pre-minority interest and appropriations recorded EGP2.13 billion (+8% q/q, +8% y/y), which is 3% higher than our estimates of EGP2.07 billion. NIM grew by 12 bps q/q to record 5.4% as net interest income expanded (+6% q/q, 5% y/y...

CIB 2Q21 net profit recorded a strong EGP3.2 billion (+12% q/q, +24% y/y) and 7% higher than our estimates for the quarter of EGP3.0 billion, bringing 1H21 bottom line to EGP6.1 billion. Operating income remained broadly stable annually and sequentia...

Egypt’s Financial Regulation Authority announced on 29 June that the government would start a programme of initial public offerings of state-owned companies in September 2021. This makes a public flotation harder to achieve, instead favouring trade s...