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Thursday, 16 June 2016

What we’re tracking on June 16, 2016

Interest rate watch: The Central Bank of Egypt’s Monetary Policy Committee is due to meet today to discuss rates. Analyst consensus is mixed:

  • Rate hike: EFG Hermes, Arqaam, Institute of International Finance, Prime
  • On hold: Beltone, Multiples, Pharos, and HC Securities
  • On the fence: CI Capital and Mubasher see there being a 50-50 chance of a 25-50 bps price bump

When do we eat? Iftar will be at 6:59pm CLT today, while the cut-off for sohour will be at 3:08am CLT, according to Islamic Finder.

The Consumer Protection Agency (CPA) has begun taking legal action against Cottonil for continuing to run its Ramadan commercial (watch), and will refer the company, the advertising agency, and the satellite TV channels that air it, to the Prosecutor General, a CPA source told Al Mal. We had noted earlier this week that the ad’s producer said the company would not pull the spots, in defiance of the CPA’s order.

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