We follow this morning: Egypt today signs an agreement to export gas with the European Union and Israel .. and the Fed announces its decision on interest rates

Good morning, dear readers, We have a new issue full of commodity news as local and global interest is focused on the energy and wheat markets. With rising inflation, the impact of the US Federal Reserve’s meeting on world markets continues.

The most prominent local news – Is Egypt going to sign an agreement today to export gas with the European Union and Israel? Today, EU Commission President Ursula von der Leyen and Israeli Energy Minister Karen El Harar visit Cairo to conclude a potential agreement that will promote Israeli gas exports to Europe through Egypt’s natural gas liquefaction facilities. More details in our post today.

US President Joe Biden will visit Saudi Arabia in mid-July for an official two-day visitDuring which he will hold meetings with Saudi officials, including Crown Prince Mohammed bin Salman, according to what I reported NBC from three informed sources. The US president’s plans to visit Riyadh come as his administration works to restore warmth in relations between the two countries amid rising oil prices against the backdrop of the ongoing war against Ukraine. Relations between the two countries have been strained since the beginning of Biden’s term, especially after he described the kingdom as a “pariah” after the assassination of Saudi journalist Jamal Khashoggi.

Jeddah Regional Summit: Biden could also meet with President Abdel Fattah al-Sisi during his visit to the kingdom, as well as leaders from the United Arab Emirates, Bahrain, Kuwait, Qatar, Oman, Iraq and Jordan, according to assistants to the president and quoted by the New York Times.


All eyes are on the Federal Reserve tonightToday, the US Federal Reserve may be proposing the most important monetary policy decision since its intervention to prevent the collapse of the financial markets in March 2020. points, a step that was not anticipated a few days ago. And if that happens, it’s going to be the biggest increase the US Federal Reserve has approved in a single sitting since 1994.

Yesterday’s market turmoil continued: US stocks fell in a bear market again, and sales in the bond market continued while traders waited for the Fed’s decision. The Standard & Poor’s 500 Index showed losses for the fifth consecutive day, ending yesterday’s session with a 0.4% decline, to continue in the bearish market. In the US bond market, the yield on two-year bonds recorded the highest level since 2007, while the yield on 10-year bonds rose to about 3.5%, a level not seen in the market since 2011.

The US bear market will not end quickly. The S&P 500 may take a long time before breaking out of its current bear market area, causing the index to fall 22% from its January peak, it was quoted. Bloomberg for analysts. “This drop could be as high as 35% and take more than a year to pick up again,” said Peter Garnery, head of equity strategy at Saxo Bank, comparing the current situation to the dotcom crisis at the start of the year. millennium and the bear market caused by the rise in oil prices in 1973.

Chinese stocks rose this morning, With most other Asian indices currently in the red before the Fed meeting ends. Future markets point to an expected rise for US equities when the trading sessions start later today, while European indices, the FTSE 100, the Euro Stoxx and the DAX, are also expected to open higher today.

This morning’s news received wide attention from the international financial newspapers: Bloomberg | Financial Times | The Wall Street Journal | CNBC | Reuters | Associated Press.

happens today –

start annual meetings The African Export-Import Bank (Afrixim Bank) today, Wednesday, at the St. Regis Al Masa Hotel in the New Capital. President Abdel-Fattah El-Sisi, Governor of the Central Bank of Egypt Tarek Amer, and President of the Bank of Africa Benedict Orama will deliver keynote speeches at the meetings, focusing mainly on the implementation of the African Free Trade Agreement. power in 2021.

Tomorrow we follow – the meeting of Egypt and the European Union conference on value chains for food sustainable At the Grand Nile Tower Hotel.

in notebook –

The first workshop will be held within the framework of the social dialogue launched by the government on “State Ownership Policy Document“Next Sunday, according to the electronic platform for dialogue. Every Sunday and Tuesday, workshops on a specific industry will be seen, starting with one workshop focusing on agriculture next Sunday and another focusing on the food industry on Tuesday. Every Thursday, workshops will be held with the House or Senate, along with experts and brainstormers.

You can view the full notebook at Our website, In which you will find a comprehensive list of upcoming news events, national holidays, conferences and everything that affects the business and financial community.

Today we are on a date with a new issue of “Hardhat”, our weekly publication specializing in infrastructure in Egyptwhich comes to you every Wednesday as part of the Enterprise Morning Bulletin, on everything related to infrastructure from energy, water, transportation, urban development to social infrastructure such as health and education.

in today’s issueWe spoke to Ahmed Ashour, co-founder and CEO of Infrastructure Management Platform Bylon, to talk about how the company’s data-driven software can make the country’s traditional infrastructure more efficient – electricity and water distribution – and help reduce losses and revenue improve.

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