WHAT WE’RE TRACKING TODAY

President Abdel Fattah El Sisi will meet with leaders of a number of Egyptian political partiestoday at Ittihadiya, including the Reform and Development Party headed by Mohamed Anwar Al-Sadat, the Constitution Party, the Strong Egypt Party and Al Wafd. (Read)

NGOs interested in monitoring the upcoming parliamentary elections may register to do so beginning today and running through 21 March. (Read)

Security officials are denying there was an explosion this morning in the Cairo suburb of Maadi, but there was no sign (at time of release this morning) of what might have caused a very loud boom at c. 1:30am. The noise woke residents across the district; wire reporter @sameralatrush was among those who went searching for the source of the noise and returned empty-handed.

LAST NIGHT’S TALK SHOWS

Lamees El Hadidy and Amr Adeeb both voiced their concerns over the organization of the Sharm El Sheikh investment conference.

“We have two big events taking place in March: the Sharm El Sheikh investment conference and the Parliamentary elections. I care more about the conference than I do about the elections,” said Amr Adeeb. “I care more about the number of new companies and investments than about our political parties, because it’s the growth of the economy that will save this country.”

Adeeb asked viewers to google the Sharm El Sheikh conference. “You won’t find anything when you google the conference,” says Adeeb. “There’s no website and no information available online. Maybe everything is prepared and we will be surprised. I would be very happy to be wrong.”

Adeeb referred to the preliminary conference agenda that was published in Al Akhbar: “First of all, couldn’t we find a better day to launch this event? It starts on Friday the 13th! If I go by this agenda, which is the only thing that has been published thus far, there is no real substance. It’s all much too vague. My hope is that when the President goes to the World Economic Forum in Davos this month, he will see how things should be run and that there is still time to rectify the situation.”

El Hadidy started a “countdown to Sharm,” and with “only 61 days left,” El Hadidy said, “we must be geniuses if we think that we can pull this off successfully within such a short period of time.

“Where is the logo? Where is the website? Can we register online? Where is the agenda? I don’t mean to be critical, but I sincerely want the summit to be successful, the last thing I want is for this to be a show. I want to see real projects, real investments and real results,” said El Hadidy.

[Editor’s Note: We found the conference website online here, though it is obviously still being built-out. On a related note, the SIS quoted Investment Minister Ashraf Salman yesterday as saying the government had referred 42 potential projects to investment bankers for study and that 120 countries and 3,500 investors have been invited to attend the gathering.]

Also last night, El Hadidy interviewed Minister of Finance Hany Kadry Demian.

“Our aim is to grow the economy to a level that is comparable to South Korea, targeting 5-6% economic growth,” said Demian.

Demian also said that energy subsidies will continue to be removed over the course of the next 5 years. “By the end of April, the entire country will be covered by smart cards for gasoline. Through the smart cards we will be able to collect data to monitor consumption patterns of petroleum products so that we may properly assess the situation,” said Demian.

El Hadidy’s second interview of the night was with Mohamed El Sewedy, the head of the Federation of Egyptian Industries. He joined the Minister of Finance to ask questions and voice grievances about customs and taxation and the necessity of transitioning from a cash-based system to a credit system to better track transactions and minimize tax evasion.

“Access to information is a problem for the tax authority, but we have started working on this with various entities and the situation is improving. Professional services are a problem, doctors and lawyers are not reporting their real incomes. We should be collecting at least EGP 5-7 bn from this sector,” said Demian.

SPEED ROUND

The CBE announced it repaid Paris Club lenders USD 681 mn on 5 January, according to Al Borsa.

Amendments to the income tax law will be ratified within the next three weeks, according Investment Minister Ashraf Salman, who was speaking at an investor conference organized by CI Capital. The story carries no additional detail regarding the law. (Read in Arabic)

Speaking separately with Reuters, Salman said FDI should hit USD 2 bn in the second quarter of the government’s fiscal year (i.e. the three months ending 31 December), up from USD 1.8 bn the previous quarter. The unified investment law, he added, would be with President Abdelfattah El-Sisi by late February or early March.

Egyptian police officer kidnapped in North Sinai: Armed gunmen stopped a bus on which a member of the police service was travelling from Rafah to Al-Arish and was taken away by them, according to security sources speaking to Reuters. Daesh-affiliate Ansar Beit Al Maqdis have claimed responsibility for the kidnapping, according to AMAY.

Fully 86% of BiscoMisr shareholders have now agreed to sell to Kellogg, giving the global cereals giant a USD 125 mn transaction as the offer period came to a close yesterday. “The Bisco Misr deal will not be the last in Egypt’s food sector … We see more acquisitions in the coming period to take advantage of strong domestic demand in Egypt,” Reuters quoted Mohsen Adel at Pioneers as saying. We here at Enterprise figure Temmys is a good fit for Kellogg.

UK-based Helios Investment Partners is about to break its own record, it seems, as it looks to close the first Africa-focused private equity fund to cross the USD 1 bn barrier. Get more from the FT (paywall) or CP-Africa.

Raging against the machines? Investors, entrepreneurs and scientists involved in the research and commercialization of artificial intelligence have signed an open letter warning that safety and social benefits have to be taken into consideration as AI approaches human levels of intelligence. Early signatories include Elon Musk and Stephen Hawking. Read the letter and list of signatories here, catch coverage onCNBC (video and text), get the FT‘s take or check out CNET.

The White House will host a summit on 18 February in light of terror attacks in the West, most recently in Paris but also noting the attacks in Australia and Canada. The Obama administration has yet to specify which countries will be represented at the conference. (Read)

CORRECTION: In yesterday’s section on global terror attacks, a typo changed the meaning of a story on the “Turkish Nostradamus” Fuat Avni. We had reported that he had tweeted that the AKP would plant bombs in Istanbul malls to frame members of the Gulenist movement as terrorists hours after Turkish media reported that bombs had been found at two Istanbul malls. The story should have read that Fuat Avni had warned that bombs would be found hours before they were actually discovered. Our apologies for the confusion.

DIPLOMACY

Foreign Minister Sameh Shoukry condemns terror attacks in Paris, Lebanon and Nigeria; participates in silent march against terrorism in Paris: Following a visit to Jordan on Saturday to meet with King Abdullah II, the minister travelled to France yesterday morning to join in the silent march in Paris called for by French President François Hollande to protest the recent terror attacks, according to a statement by MOFA. The statement reiterated Egypt’s comprehensive approach to terrorism, including not only a security approach but one which also aims to leverage the influence of Al Azhar to promote true Islamic values and thought. (Read)

In separate statements, the Foreign Ministry also expressed its condemnation of the recent suicide bombing in Lebanon and the Boko Haram attacks in Nigeria last week.

Shoukry’s participation prompted backlash from Reporters Without Borders and journalists (see Egypt In the News, below).

Meanwhile, the conspicuous absence of senior Obama administration officials at the rally in Paris and the smaller rally in Washington D.C. did not go unnoticed. Journalist Josh Rogin, recently relocated from The Daily Beast to Bloomberg View, summarizes the explanations of American attendees of the Washington rally: “Many said the Obama White House simply isn’t skilled, or doesn’t care, about doing the small things that can make a big difference when it comes to maintaining relationships and showing respect. In doing so, the White House often misses opportunities and lets poor optics overshadow positive contributions.” (Read)

Iraqi Prime Minister Haider al-Abadi arrived in Cairo yesterday for a two-day visit during which he will meet President Abdelfattah al-Sisi. Al-Borsa adds that we can expect discussions on oil imports from Iraq during the visit.

President El Sisi met yesterday with the head of the World Jewish Congress (Ronald Lauder) and Tony Blair yesterday to discuss issues in the region including Palestinian-Israeli relations. (Read)

Interior Minister Mohamed Ibrahim travelled to the UAE yesterday on his first official visit to discuss enhancing security cooperation between the two countries. (Read)

EGYPT IN THE NEWS

International coverage on Egypt yesterday evening and into the morning focused on three stories: A three-year jail sentence handed down to a 21-year old Egyptian university student for atheism, condemnation of the presence of Egyptian Foreign Minister Sameh Shoukry at the Paris anti-terror march, and the release from custody of Morsi advisor Khaled Al-Qazzaz for medical reasons. Al-Qazzaz, who is both a Canadian citizen and married to a Canadian citizen, was one of nine officials in the Morsi administration who opted to remain at the latter’s side even when it was apparent Morsi would be detained. (See also Al-Masry Al-Youm for a domestic spin on the Qazzaz story)

The 21-year old is named Karim Al-Banna, and he was sentenced yesterday to three years in prison for announcing his atheism on Facebook. His own father testified against him. (Read)

On equivocation: The criticism of Foreign Minister Shoukry was spearheaded by Reporters Without Borders in a press release issued yesterday titled RWB condemns presence of “predators” in Paris march, calls for solidarity with “all Charlies” which noted: “Reporters Without Borders is appalled by the presence of leaders from countries where journalists and bloggers are systematically persecuted such as Egypt (which is ranked 159th out of 180 countries in RWB’s press freedom index) … The authorities have announced the presence of … Egyptian foreign minister Sameh Shoukry …” (Read)

Ever the bastion of good taste, The Huffington Post’s Louise Ridley picked up the press release and ran with it in: Egypt And Turkey Leaders ‘Spit On Graves’ Of Charlie Hebdo By Attending Paris March ‘While Persecuting Journalists.’ (Read) The Guardian picked up the story as well.

The attack on Shoukry’s attendance was also led by an unlikely source: the tweets of young student and co-president of the LSE Middle East Society Daniel Wickham, who in a series of 21 tweets, which were picked up by journalist Glenn Greenwald and retweeted thousands of times, criticized a number of world leaders and foreign ministers in attendance. “4) Foreign Minister Shoukry of Egypt, which as well as AJ staff has detained journalist Shawkan for around 500 days” (View tweet). Wickham’s tweets were picked up in both World.Micand Quartz.

The Al-Qazzaz story was quickly seized upon by Egypt’s old friend David Kirkpatrick, who noted “there is little sign of any easing in the broader crackdown on Mr. Morsi’s supporters.” The news was also picked up by Canada’s CBC as well as by AFP syndicates.

Iranian propaganda outlet Press TV is indistinguishable from Brotherhood media in general and in their latest piece in particular: ‘Egypt to ruin 2,000 more homes for Gaza buffer zone’ (Read, or scrunch-up your face and shake your head)

WORTH READING

President Abdel Fattah El Sisi’s address to Al Azhar where he called for a “religious revolution” continues to receive attention, albeit still from the American right-wing. Last weekend’s episode of the FOX news program “The Journal Editorial Report” chaired by the editor of The Wall Street Journal’s editorial board Paul Gigot and featuring Wall Street Journal Global View columnist Bret Stephens and editorial board member Dorothy Rabinowitz, discussed the address, among other topics.

“Gigot: —with these kinds of beliefs. But el Sisi, the president of Egypt, said this week—maybe it was on the weekend—in a speech to clerics, that Islam itself can’t be the enemy. How has it been that Islam has become in the minds of so many the enemy of the world?

Stephens: Right—

Gigot: It needs a revolution?

Stephens: It was a really landmark speech to the religious clerics at al Azhar University, which is the center of Sunni Islamic learning. And he said, how is it that 1.6 billion Muslims now terrorize the world? And he went to the core of the problem …” (Read the transcript on the WSJ)

One non-partisan publication that has taken notice of the Sisi speech is The Hill, the trade paper serving Washington insiders (it isn’t Politico, but it isn’t bad). A guest column for the Hill’s blog declares: “This may be the most important speech in a generation. It requires a response from President Obama, who has been conspicuously silent on the matter.” (Read)

Stratfor has an interesting take on the future of Qatar’s relationships with regional powers as well as Islamists in their latest piece: Qatar’s Discretion Looks to Mend Ties. “A shift toward discreet support will enable Doha to retain its links with Islamist groups as well as maintain close ties with Ankara — something Riyadh is unable to do because of regional competition between itself and Turkey. Qatar is unlikely to fundamentally change its position on supporting the Muslim Brotherhood or entering a more strategic relationship with Turkey … The GCC — primarily Saudi Arabia, the United Arab Emirates and Bahrain — will need to undertake face-saving measures before beginning to reset relations with the Muslim Brotherhood and other mainstream Islamists. If Saudi Arabia and other GCC member states are going to work to improve ties with these groups (a scenario Stratfor views as likely), they will need to do so on their own terms …” [emphasis ours] (Read, email registration may be required)

Defense & Foreign Affairs Magazine, in a piece syndicated on Oilprice.com, goes much further: “There was speculation in late 2014 that Qatar had begun to take a new strategic line, mending relations with Egypt … This is misleading or incorrect … Qatar, in close cooperation with the Islamist Government in Turkey and with Iran, has boosted its support for the Muslim Brothers’ related activities in Libya, Sudan, and else-where. Qatar, then, is far from back- peddling. It is merely adopting a new public relations approach.” [emphasis ours] (Read)

Fans of the Axis of Evil comedy tour may remember Iranian-American comedian Maz Jobrani. His piece for Politico yesterday titled ‘What Makes Muslims Laugh?‘ attempts to bridge the gaps between the West’s lack of awareness of the region’s appreciation of comedy while also attempting to explain that as a comedian he has experienced political constraints on what his audience finds acceptable in America during his critique of the Iraq war. Egyptians are no strangers to comedy, but given that little to none of our comedy crosses borders outside the Arab world, Jobrani is right to attempt to explain to non-Middle Eastern audiences that yes, we laugh too. His argument falls apart, however, where he attempts to extrapolate that the nascent (i.e. barely existent) standup scene in the region is leading to gradual acceptance of Hebdo-esque irreverent comedy. Not quite. But the piece overall is still worth a look.

ENERGY, RENEWABLE ENERGY & SUBSIDY REFORM

150 mn cubic meters of oil equivalent needed for electricity generation next summer
Al Borsa | 08 Jan 2015
150 million cubic meters of oil equivalent will be needed for electricity generation next summer, up from 138 million cubic meters of oil equivalent a year earlier. According to the head of EGAS, the projection requires the installation of another regasification vessel with a capacity of 500 MMcf daily by July. He also revealed that talks are ongoing with the National Port Authority to select a port for the second FSRU. (Read in Arabic)

Four new transformer stations in Aswan at a cost of EGP 620 mn
Al Mal | 11 January 2015
The Egyptian Electricity Transmission Company will build four new transformer stations in Aswan with a production capacity of 500 MW each, company head Ahmed El Hanafy told Al Mal, saying the cost of each station should be c. EGP 155 mn, with a total investment cost of EGP 620 mn, and are expected to be completed before the end of 2015. (Read in Arabic)

MoE signs agreement with Ansaldo for South Helwan power plant boilers
Al Mal | 11 Jan 2015
The Ministry of Electricity (MoE) signed an agreement with Italy-based Ansaldo to supply three boilers that can withstand “supercritical pressure” and which use natural gas as a primary fuel source and mazut as a secondary fuel source. Ansaldo outbid several other companies for the EGP 2.4 bn project, including Korea’s Doosan, Japan’s Hitachi and France’s Alstom. The South Helwan project will cost EGP 11.7 bn and have a generation capacity of 1,950 MW. (Read in Arabic)

OIL & GAS

Gazprom delegation to discuss LNG shipments in Egypt, finalize deal this month
Reuters, Al Borsa | 11 Jan 2015
A delegation from Russia’s Gazprom is visiting Egypt this month to discuss potential LNG shipments, according to the Minister of Petroleum. The discussions will pick up from talks held in April 2014 and the minister expects an agreement on importing seven shipments to be reached before the end of the month. (Read in Arabic or English)

Gas supplies to cement plants permanently stopped, fuel oil sent instead: EGAS
Daily News Egypt | 11 Jan 2015
In exclusive statements to Al-Borsa and as reported by Daily News Egypt, a senior official at EGAS said that gas supplies to cement factories have been halted and that instead the company is now sending fuel oil instead due to decreased gas production and given that power plants are now receiving the lion’s share of the country’s gas supplies. (Read)

Ministry of Petroleum calls on subsidiaries to lower their general spending by 15%
Al Mal | 11 Jan 2015
Oil Minister Sherif Ismail called on the subsidiary companies cut their spending by 15% as long as it doesn’t affect the work flow and its quality. On the other hand, Ismail called on companies to prepare a full assessment and comprehensive review of the industrial and occupational safety systems in order to keep workers safe and preserve assets in addition to reviewing all pipeline connections with the refining plants and storage facilities, in order to prepare a comprehensive study on the energy infrastructure. (Read in Arabic)

Four butane storage facilities to be built in Sohag
Amwal Al Ghad | 11 Jan 2015
The Minister of Petroleum announced that the government is proceeding with plans to build four butane storage facilities in Sohag. The project is part of the government’s plan to increase the storage capacity in Upper Egypt and a series of other projects to increase domestic productivity. (Read in Arabic)

Egypt is looking for crude oil, and Iraq might be a suitable trade partner
Al Borsa | 12 Jan 2015
The Egyptian government is looking to negotiate with Iraq to import crude oil. According to an interview with Daily News Egypt, Oil Minister Sherif Ismail revealed that the issue will be on the table in the next few days. As noted above, Iraqi Prime Minister Haider Al Abadi, ends his two-day visit to Cairo today, with Ismail saying he will take the opportunity to meet with Abadi and his aides to discuss the matter. Ismail was careful to stress that no price, quantity, or date have been set for the transaction. (Read in Arabic)

BASIC MATERIALS & COMMODITIES

Qatar to build a fertilizer plant in Egypt?
CNBC Arabia, Al Mal | 10 Jan 2015
The head of the Arab Council for Fertilizers said Qatar is considering building a fertilizer factory in Egypt with a capacity of 1.2 mn tons. Contradicting this news, Al Mal cites the same person in denying Qatar’s intention to build the fertilizer factory. (Read in Arabic on CNBC Arabia and the denial in Al Mal)

REAL ESTATE

ERC Subsidiary SHC and Palm Hills Developments to jointly launch beach-front apartment project in Sahl Hasheesh
Joint Press Release | 11 Jan 2015
Egyptian Resorts Company, the master developer of Sahl Hasheesh, and Palm Hills Developments will launch a residential project in Old Town in the Sahl Hasheesh resort community on the Red Sea, according to a joint press release issued yesterday. The Old Town Apartments project will include over 130 beach-front apartments, and is already fully constructed with interior finishing to be completed over the coming 12-18 months. The apartment sizes range from 70 square meters to 150 square meters, and sales are expected to officially commence in March.  Old Town is already home to more than four dozen retail outlets and restaurants.

Details of Arabtec housing project to be announced this month
Amwal Al Ghad | 11 Jan 2015
Negotiations between the New Urban Communities Authority (NUCA) and the UAE’s Arabtec are still underway to seal the deal on the one million homes project, Engineer Kamal Fahmy, vice president of the New Urban Communities Authority, was quoted saying in Amwal Al Ghad. The USD 40 billion project that has a footprint covering 13 governorates and will target middle income homebuyers. The negotiating parties are still trying to agree on pricing criteria that will guarantee affordability for the buyers and a profit for the company, with a final agreement expected to be reached this month according to Kamel. It is worthy to note that in return for the project’s land, the NUCA will be allocated a certain number of units in the project, a backtrack from the previously announced MOU which stipulated that the land was to be offered pro-bono. (Read in Arabic)

BANKING & FINANCE

CI Capital eyes USD 300 mn investment fund
Daily News Egypt | 12 Jan 2015
In what it bills as an exclusive, Daily News Egypt quotes CI Capital’s Hazem Badran as saying he expects the firm will soon sign an MoU with Duet Group to launch a USD 300 mn investment fund. Up to half of its capital could be committed to investments this year in food, healthcare and real estate, the paper quotes Badran as saying. The story also quotes Badran’s views on the Sharm conference, the unified investment law and the planned dual-listing of OCI in Egypt and the UAE. (Read)

Emirates NBD looks to add 30 branches
Al-Mal | 11 Jan 2015
Fresh off its acquisition of BNP Paribas’ Egyptian operations, Emirates NBD Egypt is looking to add 30 branches to its Egyptian network, bolster its capital and will be focus on financing major projects expected along the Suez Canal axis, Al-Mal reports (Read in Arabic)

OTHER BUSINESS NEWS OF NOTE

Egyptian companies to engage in infrastructure projects in Sudan worth USD 800 mn
Al Shorouk | 10 Jan 2015
Lokma Group, an Egyptian company, signed an agreement with Sudan’s government to develop infrastructure projects in Khartoum. The agreement involves projects worth USD 800 mn and comes as part of an effort to strengthen economic ties between Egypt and Sudan. (Read in Arabic)

Suez Canal investment laws to be ready before the investment summit
Al Shorouk | 11 Jan 2015
Laws organizing investment in the Suez Canal region will be ready before the investment summit in March, according to the head of the Suez Canal Authority, Mohab Mamish. A draft of the law is currently ready, but awaits the cabinet’s approval. Mamish hinted that the law will require all Suez Canal investors to have high-skilled Egyptian workers comprising at least 75% of the projects’ labor force. (Read in Arabic)

EGYPT POLITICS + ECONOMICS

Lebanese-Egyptian economic summit to be held in Beirut
Al Shorouk, Al Masry Al Youm | 09-11 Jan 2015
Preparations for a Lebanese-Egyptian economic summit are under way, according to the Egyptian Ambassador to Lebanon. The summit, which will be held in February in Beirut, will be attended by investors from both countries, amongst others. The summit aims to further develop economic ties between Cairo and Beirut and aims to promote investment in the two countries. AMAY is more specific with its reporting and notes that the summit will be held on 13 February and will include an Egyptian delegation who will be visiting Beirut from 11-15 February. (Read in Arabic in Al Shorouk and Al Masry Al Youm)

“World Bank: Aid worth USD 5 bn to support the Egyptian economy”
Al Masry Al Youm | 11 Jan 2015
Dr. Sahar Nasr, lead economist at the World Bank’s Finance and Private Sector Development Department for MENA, revealed that the World Bank will be aiding a list of countries in the Middle East, Al-Masry Al-Youm says. Egypt is at the top of that list as the World Bank will offer the country technical assistance and expert advice to help the nation emerge from its current rut. The paper says she added that the Bank is deploying c. USD 5 bn to finance a projects around the country with a focus on job creation and the alleviation of poverty. (Read in Arabic)

REGIONAL

Algeria to invest USD 70 bn in shale gas over 20 years; anti-shale gas exploitation protests continue
Al Arabiya via AFP, Arab Today | 11 Jan 2015
Algeria’s state-owned Sonatrach will invest at least USD 70 bn over the next 20 years to extract shale gas in its southern desert, according to Sonatrach’s managing director yesterday as reported by AFP. The firm intends to move ahead with its plans despite public opposition in the Ain Salah area of the central Sahara where successful test drilling was announced last month, Said Sahnoun told state radio. Sonatrach hopes to produce some 20 billion cubic meters (700 billion cubic feet) of shale gas per year from 200 drill sites, Sahnoun said. Protests have continued in Tamenrasset for the tenth day in a row against the decision to start developing shale gas. (Read about the investment plans in Al Arabiya and the protests in Arab Today)

ON YOUR WAY OUT

The National Bank of Egypt is extending an EGP 800 mn credit line to the Arab Contractors to finance its domestic and overseas projects. (Read in Arabic)

Mubarak-era Information Minister Anas El-Fiqqi has been ordered re-tried by the Court of Cassation after prosecutors appealed what they called a “light sentence” handed-down by a lower court following his conviction on corruption charges. El-Fiqqi has given a one-year suspended sentence and fined EGP 1.8 mn. (Read)

The reusable SpaceX rocket we were so excited about? Well, after delaying the launch, it finally made it off the ground this weekend with a perfect launch. But the landing of the rocket? It was a “hard” touchdown, though significantly the rocket did make it to the offshore platform. Elon Musk says they’ve figured out why and will be trying again in February. (Read in the WSJ)

Egypt’s wheat imports from France last season rose to a staggering 1.5 mn tons vs. 292,000 tons the last season, surpassing Algeria, which imported only 221,000 tons. (Read in Arabic)

Some genius left a very primitive bomb in an abandoned lot in the city of Tamia, in Fayoum. (Read in Arabic)

We’re not quite sure what to make out of this Daily News Egypt story from yesterday: ‘Qatari Diar invests in Egypt with 2 major tourist projects.’ Setting aside the fact that you have dig through a few paragraphs to get to the mentions of the “2 major tourist projects,” one of which is non-existent, Hend El-Behary closes with the following: “Meanwhile, in June 2014, Anadolu news agency reported that QAI was in talks with the Egyptian government to kick off a big residential project that includes the construction of one million housing units in Egypt, aiming to support people with low incomes. The project would be implemented by QD.” (Read) We’ll keep an eye out for this story to see if it goes anywhere.

BY THE NUMBERS

USD (CBE auction): 7.1401 (unchanged)
USD (parallel market): 7.95 (down 5 pts)

EGX30 (Sunday): 8,909.75 (-0.41%)
Turnover: EGP 215.2 mn (68% below the 90-day average)

WTI: USD 47.61 (-1.55%)
Brent: USD 49.29 (-1.64%)

TASI: 8,445.1 (+1.9%)
ADX: 4,480.1 (flat)
DFM: 3,774.9 (+2.7%)
KSE: 439.1 (+1.2%)
QE: 12,014.4 (-2.4%)
MSM: 6,403.2 (+2.4%)