Egitto 6.875% 30.04.2040 ISIN XS0505478684

Stanno semplicemente raccogliendo i frutti di una politica economica scellerata.
Dal FMI hanno ricevuta una mancia e da li non arriva piu nulla.
Da possessore di 1 bond auspico ne escano.
Altrimenti usciro' io incrementero' da un altra parte. Vedo piu sicure le mie Transocean allo stato attuale....))))
 
agenzia NOVA
BUSINESS NEWS
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Business news: ministro Trasporti Egitto, non venderemo porti a compagnie straniere
Il Cairo, 25 dic 05:00 - (Agenzia Nova) - I porti dell’Egitto non sono in vendita per nessun investitore straniero o società privata estera. Lo ha dichiarato il ministro dei Trasporti egiziano, Kamel al Wazir, precisando che il governo del Cairo sta perseguendo un piano che prevede la cooperazione con società del settore privato e investitori stranieri solo per la gestione e il funzionamento dei porti. Nel frattempo, l'Autorità portuale di Alessandria ha firmato un memorandum d'intesa con l'Alleanza egiziano-olandese per la navigazione e lo stivaggio Edsco, per l'istituzione, l'attrezzatura, la gestione, lo sfruttamento e la manutenzione di un'area logistica integrata presso l'ormeggio 85. A tal proposito, Al Wazir ha precisato che l'ormeggio è stato realizzato interamente con fondi egiziani e implementato da società egiziane, e il memorandum include solo il funzionamento e la gestione. L’accordo sull'ormeggio 85, ha riferito il ministro, mira ad aumentare la capacità del porto di Alessandria per rispondere alla crescente domanda di merci, perlopiù cereali e granaglia, espandendo l'area di stoccaggio fino a 35.000 metri quadrati, con una lunghezza dell'ormeggio di 433 metri e una profondità di 15,5 metri, il che consentirà a navi fino a 70.000 tonnellate di attraccare. Al Wazir ha poi fatto sapere che il proprio dicastero ha avviato negoziati con la Banca per le esportazioni e le importazioni della Corea per finanziare l'acquisto di quattro nuove imbarcazioni da aggiungere alla flotta egiziana. (Cae) © Agenzia Nova - Riproduzione riservata
 
REFILE-Gold price soars in Egypt as local currency weakens
27/12/2022 15:03 - RSF
(Fixes wording in headline)
By Mahmoud Salama
CAIRO, Dec 27 (Reuters) - The price of gold in Egypt has risen to unprecedented highs as nervous savers seek refuge from a weakening currency and some companies export bullion to raise scarce dollars to fund imports, industry experts say.

Figures from the Federation of Egyptian Chambers of Commerce's (FEDCOC) gold division show the price of 21-carat gold surpassing 1,800 Egyptian pounds ($72.73) per gramme in December, what local media reports say is an all-time high.

Prices have since fallen to 1,545 pounds but it's still a jump from 673.5 pounds a year earlier and a sharp premium versus the current $50-51 on international markets.

Egypt continues to face a foreign currency shortage despite two major devaluations this year, with the gap between the official rate of the Egyptian pound against the dollar and that on the black market widening.

Its central bank in February imposed a requirement for letters of credit for most imports, causing a sharp slowdown in imports and a backlog of goods in ports.

This has prompted some importers to buy bullion in Egyptian pounds in order to export abroad as a means to access dollars, a move which Hani Milad, head of the gold division at FEDCOC, said fuelled the price increase.

They have been able to use a loophole that exempts the first half million dollars per transaction of imports from requiring the letter of credit, a banker added.

"We've seen a huge influx of money into the market from people outside the industry...importers are buying gold to export for dollars so they can import other goods," Milad said in a local television interview earlier this month.

The weakening Egyptian pound has also spurred demand for bullion and gold coins by individuals in order to preserve the value of their savings.

"Gold is considered a safe haven compared to putting your money in the bank in pounds and its value decreasing," said Ibrahim Hegazy, head of the marketing department at the American University of Cairo.

The official price of the pound has weakened to about 24.7 to the dollar from 18.8 to the dollar in March. It is trading at about 31 on the black market.

Egypt's central bank last week hiked interest rates, signalling that it might be preparing for a further weakening of the currency.

"If nothing [changes], the situation will stay the same and we might see more increases [in price]," said Wasfi Wasef of the Federation of Egyptian Industries.

($1 = 24.7499 Egyptian pounds)
(Reporting by Mahmoud Salama, additional reporting by Patrick Werr, Writing by Sarah El Safty; Editing by Emelia Sithole-Matarise)
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Egypt's m2 money supply 27.5% year-on-year in November
29/12/2022 16:32 - RSF
Dec 29 (Reuters) - Egypt's M2 money supply rose by 27.5% year-on-year in November, central bank data showed on Thursday.

Money supply stood at 7.31 trillion Egyptian pounds ($295.95 billion), up from 5.74 trillion pounds in the same month last year.

($1 = 24.7000 Egyptian pounds)
(Reporting by Yomna Ehab; Editing by Jon Boyle)
 
UPDATE 1-Egypt lifts import curbs, backs bigger private sector role to meet IMF demands
29/12/2022 16:43 - RSF
(recasts with import restrictions lift)
CAIRO, Dec 29 (Reuters) - Egypt on Thursday lifted a key restriction on imports and approved a list of economic activities the government would leave to the private sector, in an effort to meet two key conditions attached to the International Monetary Fund's $3 billion support package.

In a statement, the central bank said it dropped a requirement for importers to use letters of credit and the government will now allow direct payment.

The condition, introduced in February to ease a dollar crunch that was exacerbated by the Ukraine conflict, has drawn complaints from businesses and caused shortages of a variety of imported goods.

Despite the curbs and two major devaluations this year, Egypt still faces foreign currency shortage and earlier this month secured the 46-month financial support from the IMF, for which the reversal of the import curbs was a key requirement.

The agreement also called for the government to list economic activities that the state would withdraw from.

Earlier on Thursday, the cabinet said that President Abdel Fattah al-Sisi approved a list of 62 economic activities the state would leave to the private sector, giving it a greater role in helping to grow the economy, create jobs and increase investment and exports.

The government statement did not specify those activities, but in May Egypt outlined an array of state assets that would be offered to private investors, including in sectors such as electric vehicles, data centres, and oil and gas networks.

(Reporting by Patrick Werr and Nafisa Eltahir; editing by Barbara Lewis and Tomasz Janowski)
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Egypt’s c.bank sells $850 mln in 1-year dollar t-bills at average yield of 4.649% - statement
02/01/2023 17:33 - RSF
CAIRO, Jan 2 (Reuters) - Egypt's central bank has sold $850 million in one-year dollar treasury bills at an average yield of 4.649 percent , it said in a statement on Monday.

(Reporting By Nadine Awadalla; Writing by Moaz Abd-Alaziz; Editing by Alex Richardson)
 
pietro17elettra ha scritto:
Egypt’s c.bank sells $850 mln in 1-year dollar t-bills at average yield of 4.649% - statement
02/01/2023 17:33 - RSF
CAIRO, Jan 2 (Reuters) - Egypt's central bank has sold $850 million in one-year dollar treasury bills at an average yield of 4.649 percent , it said in a statement on Monday.

(Reporting By Nadine Awadalla; Writing by Moaz Abd-Alaziz; Editing by Alex Richardson)
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Egypt private sector activity continues to shrink in December -PMI
Oggi 05:16 - RSF
CAIRO, Jan 4 (Reuters) - Activity in Egypt's non-oil private sector contracted in December for the 25th straight month as inflation, a weaker currency and continued import controls dampened business, a survey showed on Wednesday.

The S&P Global Egypt Purchasing Managers' Index (PMI) rose to 47.2 in December from 45.4 in November, but was still below the 50.0 threshold that marks growth in activity.

The sub-index for output improved to 44.8 from 40.8 in November and that for new orders rose to 45.5 from 41.4.

"According to survey panelists, lower activity generally reflected weak demand conditions, as rising prices led customers to make additional cuts to spending," S&P Global said.

The contraction was caused in part by higher materials costs and continued import controls, it added.

Egypt still has a severe shortage of foreign currency despite a 14.5% devaluation of the Egyptian pound in October and the announcement of a $3 billion support package with the International Monetary Fund. The shortage has tightened the flow of imports for factory and retail inputs.

The PMI's sub-index for overall input prices fell to 65.0 from November's 72.4 and that for purchase prices slipped to 64.3 from 72.4.

"Cost concerns led firms to reduce their headcounts and deplete input inventories in December, leading to an additional rise in backlogs of work," said S&P Global economist David Owen.

Inflation in Egypt jumped to a five-year high of 18.7% in November, the state statistics organisation reported last month.

The sub-index for future output expectations improved to 56.9 from 55.7 in November. It was the highest reading since June.

(Reporting by Patrick Werr; Editing by Susan Fenton)
(([email protected];))
 
Egypt's currency weakens to 25.20 to the dollar
Oggi 10:32 - RSF
CAIRO, Jan 4 (Reuters) - The Egyptian pound weakened to 25.20 to the dollar on Wednesday, its biggest one-day move since the central bank allowed it to fall by 14.5% on Oct. 27, according Refinitiv Data.

It had previously been trading at 24.70 to the dollar.

State-owned Banque Misr said in a statement earlier on Wednesday it was offering one-year savings certificates with a return of 25%, a move often indicating the central bank is planning a devaluation.

(Reporting by Patrick Werr; Editing by Alex Richardson)
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