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EGX30 | BRICS RoadMapEgypt Joins the BRICS New Development Bank the NDB finances infrastructure and sustainable development projects in areas such as energy, transportation, water, communications, and health. "Since 2016, the Bank has invested in multiple projects, including US$7.2 billion in India alone," RT reported, recalling that Egypt expressed an interest in becoming an NDB member in July. "BRICS is working to develop its own financial infrastructure, including a joint payment network, with some member states having already switched to trade in local currencies in order to reduce dependence on the U.S. dollar and euro," it added. Currently, Egyptian President Al Sissi is in Saudi Arabia participating in the summit of Arab countries with China, the nation with the largest economy among the BRICS. Egyptian Finance Minister Mohamed Maait affirmed his country's enthusiasm for enhancing cooperation with international development partners, especially in light of the "unprecedented development movement" he is witnessing in Cairo. Previously, the Chinese Foreign Affairs Ministry has noted that Argentina, Algeria, Iran, Indonesia, Turkey and Saudi Arabia are also interested in joining the BRICS bloc.
EGX:EGX30Long
by ShoeIsRich
SWDY Analysis (ELSWEDY ELECTRIC)To consider buying EGX:SWDY I think it would be important to have the market breaking above the black line and closing considerably above the 10 in an upcoming day (Above the green rectangle ) .It would very likely then to continue up to around the 12.5-13.5 area (first blue rectangle) with a potential to reach the 16-17 area at the second blue rectangle . For the days to come it would be interesting to watch If EGX:SWDY is strong enough to remain above the green line and close above the red rectangle area .That might indicate a potential future break above the black line and the 10 mark which I think is important before considering to buy. A significant close below the 7 would mean that it is likely to go down further to the 5.2-5.8 area.
EGX:SWDY
by StockAnalystPro
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