Pre-Trading Thoughts

-US Federal Reserve: Supply chain woes likely to last well into next year; Expects to begin tapering off its bond-buying soon-MPC week: We expect rates to be maintained in light of local inflation trends and high real rates-Fitch Ratings has affirmed Egypt's IDR at 'B+' with a Stable Outlook-Egypt and Israel are considering connecting their gas grids through a new USD200 mn onshore pipeline -Members of Parliament will discuss today the repercussions of capital gains tax on bourse-Fifth phase of the e-invoicing system (that includes around 3.7k companies) will start on 15 December 2021 (e-finance)-CIRA and Al Ahly Capital Holding establish a EGP2 billion company; initial investment is Cairo Saxony University-Egyptian hotels are now allowed to operate at 100% capacity, up from 70% (ORHD)-FTI Group expects a rise in German tourists to Egypt this winter (ORHD)-Marsa Alam received yesterday a charter flight carrying Italian tourists-Around 2k rooms were added to Red Sea hotel offerings in 9M21, with another 500 rooms expected to be added this year-SKPC has been operating at full utilization capacity for one month, given that ETHYDCO has been undergoing a one-month maintenance shutdown.-Egypt’s sovereign wealth fund has issued tenders for private companies to build 17 solar-powered desalination plants (SWDY, ORAS)-UNIT’s Board approved purchasing treasury shares during 20 October 2021 - 19 January 2022-MENA is opening another subscription period for the 56.7% unsubscribed portion of its capital increase -ADCI will distribute FY20/21 DPS of EGP5.00, DY of 8.8%-GSSC to establish a silo in Portsaid with a capacity of 100,000 tons and cost of EGP520 million