Today’s Top News & Analysis
The S&P Global Egypt Purchasing Managers' Index (PMI) upped marginally to 46.4 from June’s reading of 45.2, yet it is still below the 50.0 level, i.e. in the contraction territory. July marked the 20th straight month of contraction. (S&P Global)
The Suez Canal recorded the highest monthly revenue in its history of USD704mn in July 2022 (+32% y/y). The number of oil tankers increased by 60% y/y, and the number of liquefied natural gas tankers increased by 31% y/y. (Suez Canal)
The FRA is studying the request of the New Urban Communities Authority to carry out the largest ever securitization issuance of EGP20bn. (FRA)
The General Authority for Investment & Free Zones (GAFI) and a leading Chinese home appliance company will sign a Memorandum of Understanding (MoU) at the end of this week to construct an integrated industrial zone in Egypt with expected significant investments. (Egyptian Cabinet)