Morning Round-Up – Egypt’s trade deficit, Bahrain bond issue, Qatar’s $15bn surplus

Business news from Egypt and the region

Egypt trade deficit soars 79.6% in year to April on higher commodity costs and lower exports, says CAPMAS

Egypt sells 3.5 billion pounds of reopened bonds  (this means the central bank is just issuing additional amounts of a previously issued bond with the same maturity. Reopened bonds have the same maturity date and interest rate as the original bonds, but a different issue date and usually a different price).

Second quarter results season (selected):

Sorouh Q2 profit climbs 34% as costs decline

Qatar Telecom blames FX losses for Q2 profit drop 

Nakheel says first half profits up by 36%

UAE oil group boss leaves amid debt woes

Bahrain plans $1bn bond issue in Malaysia

Jordan shielded by $2 billion IMF package 

Qatar raises budget surplus estimate to $15 billion – if only Qatar would just give that surplus to Egypt, then all the North African country’s problems would be over….


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