Pre-Trading Thoughts

The Federal Reserve raised interest rates 0.75 basis points to a target range of 3.75%-4%, the highest level since January 2008.The government plans to IPO four state-owned maritime and land transport companies during 1Q2023. Companies include Damietta Container & Cargo Handling Company (DCHC) and Port Said Container & Cargo Handling Company (PSCCHC).The Electricity Ministry is in talks with six Saudi firms for more than USD3 billion worth of renewable energy projects.The International Cooperation Ministry will seek blended finance for nine projects worth USD15 billion in its Nexus on Water, Food and Energy (NWFE) program.The CBE managed to secure the dollar for more than 4 thousand shipments of production supplies and foodstuffs during the past 48 hoursPrime Minister announced that the government decision to freeze electricity prices for citizens for a period of one year, carries an additional EGP43 billion costs on the state budget, in addition to EGP67 billion in the value of the exceptional social protection package that it bears.The Ministry of Electricity determined the tariff which the green hydrogen projects can use the national grid as 2.5% of the total value of the produced energy, in addition to 5% of the project’s profits. According to local media, ORHD recently launched two new phases in El Gouna amounting to inventory of USD120-125 million. We remind you that EGTS’s next court date for the 20.0 million sqm third phase Sahl Hasheesh land plot lawsuit is on 5 November 2022.EFIH (FV: EGP22.76, OW) to launch Cloud Computing Platform during the Company’s participation in the Cairo ICT conference. EFIH invested around USD4.0 million from the capital increase proceeds to launch the Cloud Computing platform, it’s also worthy to note that the cloud computing margins are among the highest across the company’s different business lines The Ministry of Transportation paid EGP5 bn of due payments to companies working on the two monorail lines. The project is designed, built, supplied and operated by a consortium of Alstom, ORAS and Arab Contractors.The Nuclear and Radiological Regulatory Authority has given permission for construction to begin on the second reactor of the 4.8 GW Dabaa nuclear power plant. Generally, ORAS is a key beneficiary from Dabaa plant, followed by SWDY and ETRS.ELEC plans to establish a new factory in Sadat City’s industrial zone with investments of EGP1 billion. The company did not yet acquire the necessary licenses for the land.Customs authorities have released some thousands of shipments the past 48 hours, Most of the goods released in have been production inputs for food manufacturers that includes palm oil as well as other inputs as wellGB Auto raised the selling prices for their brand Cherry by EGP15-100 thousand.  Taba International Airport received a flight from Poland, as part of the winter schedule that has two weekly flights. ORHD is a major beneficiary given its hotels in Taba Heights.MCRO recorded 3Q22 financial results showing: Net profit of EGP58.1 million in 3Q22 (-12.0% YoY, +42.8% QoQ), implying a NPM of 27.0% (-8.9pps YoY, +3.1pps QoQ) in 3Q22.