AGP Executive Report
Last update: 7 hours agoFX & Sanctions Pressure: Iran’s rial slid to fresh lows as the central bank sold dollars (up to $2bn via state banks), with the dollar trading around 2.688m rials and officials blaming US sanctions and “false” collapse forecasts. Energy & Shipping Risk: Iran reiterated Hormuz won’t reopen until seven conditions are met, keeping shipping disruption and inflation risk front and center for regional markets. Iraq Oil Logistics: Iraq’s state tanker firm arranged a VLCC to move 2m barrels beyond Hormuz for the first time in decades, aiming to reduce discounts and reach refiners reluctant to sail through the strait. Turkey Funds Turmoil: Erdoğan said Türkiye has a roadmap to manage shocks after SPK-ordered liquidation of 131 funds, with interim payments approved for eligible investors. Egypt-Africa Finance Push: At the Alamein Africa Forum, Egypt’s Sisi urged integrated action and sovereignty in managing transboundary resources; Egypt also signed cooperation deals with South Africa, Equatorial Guinea and Chad. World Bank Jordan Update: The World Bank is nearing approval of an 18-month extension for Jordan’s Youth, Technology and Jobs Project, shifting funds toward training, wage incentives and digital services. Digital Finance & Compliance: CBUAE and Bank Al-Maghrib signed MoUs to strengthen supervisory cooperation, including Islamic finance.
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