BTC surges after Biden signs crypto executive order
BTC jumps after Biden takes first step to regulation: BTC surged as much as 9% to almost USD 42k last night, after US President Joe Biden signed an executive order outlining a “national policy for digital assets.” The order requires the government to look into the potential benefits and risks of bringing crypto assets into the fold of the traditional economy — including by creating a central bank digital currency. “The market has clearly been heartened by talk of supporting responsible innovation and a constructive approach to regulating the evolving digital token economy,” crypto exchange Bitfinex told Reuters.
Uber’s Middle East ride-hailing subsidiary Careem is looking to raise USD 500 mn from investors to fund expansion plans, Al Mal reports, citing people familiar with the matter. The firm will approach sovereign wealth funds in the Gulf, including the Saudi Public Investment Fund and Abu Dhabi-based ADQ, to invest in the firm, the people said. Bank of America is reportedly advising on the transaction.
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EGX30 |
10,416 |
+0.2% (YTD: -12.8%) |
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USD (CBE) |
Buy 15.66 |
Sell 15.76 |
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USD at CIB |
Buy 15.66 |
Sell 15.76 |
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Interest rates CBE |
8.25% deposit |
9.25% lending |
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Tadawul |
12,739 |
-0.9% (YTD: +12.9%) |
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ADX |
9,523 |
-2.2% (YTD: +12.2%) |
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DFM |
3,385 |
-0.8% (YTD: +5.9%) |
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S&P 500 |
4,278 |
+2.6% (YTD: -10.3%) |
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FTSE 100 |
7,191 |
+3.3% (YTD: -2.6%) |
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Brent crude |
USD 112.66 |
-12.0% |
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Natural gas (Nymex) |
USD 4.53 |
0.0% |
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Gold |
USD 1,996.90 |
-2.3% |
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BTC |
USD 41,974 |
+8.9% (as of midnight) |
THE CLOSING BELL-
The EGX30 rose 0.2% at yesterday’s close on turnover of EGP 864 mn (7.8% below the 90-day average). Foreign investors were net sellers. The index is down 12.8% YTD.
In the green: Rameda (+4.2%), Cleopatra Hospital (+3.6%) and AMOC (+3.5%).
In the red: e-Finance (-2.9%), Orascom Construction (-2.5%) and Telecom Egypt (-2.3%).