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Monday, 28 November 2016

What we’re tracking on 27 November 2018

Eurobond decision today? The Finance Ministry will take a decision on the timing of issuing eurobonds today, Deputy Finance Minister Ahmed Kouchouk said, according to Al Shorouk. A source noted that five investment banks had advised the government to delay the issuance as the interest rates are currently “unattractive.”

Random fact of the morning: From Bloomberg’s regional markets wrap-up yesterday: “Foreign investors have been net buyers of Egyptian shares every day since Nov. 3, adding the equivalent of USD 203 mn to their holdings, compared to a net outflow of USD 88 mn from Dubai Financial Market equities.”

Flying Lufthansa this week? You’ll want to keep a close eye on the news. The German airline cancelled 35 more flights yesterday amid continued fallout from a pilots’ strike, and seems set to cancel short-haul flights tomorrow and both long- and short-haul flights out of Germany on Wednesday, Reuters reports.

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