Thndr Turns One!🎉
This month, Thndr celebrates its one-year anniversary since we publicly launched our brokerage services.
Below are a few things we are very proud of:
- Receiving the first and only brokerage license from the Egyptian Financial Regulatory Authority in over a decade🏆
- Joining forces with the EGX and MCDR to pioneer commission-free stock investing in the MENA region🥳
- For more visit our blog post
Here’s a sneak peek of some of the new things that we’re really excited about:
- Same-day trading on the EGX (we know you have all been very patient on this front)⚡️
- Wider funding options that are more accessible and inclusive like Fawry, eWallets, and prepaid cards💳
CBE Keeps Interest Rates Unchanged in its Last Meeting in 2021🔐
The Central Bank of Egypt (CBE) has maintained interest rates at the same level for the ninth consecutive month.
More Details🧐 The CBE held interest rates on overnight deposit & lending & the main operation rate at 8.25%, 9.25% & 8.75%, respectively. It also maintained the credit & discount rate at 8.75%.
Why is this Important🤔 In its statement, the CBE decided that the current rates are appropriate & consistent with achieving the target inflation rate of (7% ± 2 percentage points).
Away from Markets🏝
Egypt Explores Mechanisms to Turn Sharm El Sheikh Into a Green City📗
Minister of Tourism & Antiquities Khaled El Anany met with Dr. Yasmine Fouad, the Minister of Environment, to discuss mechanisms for transforming Sharm El Sheikh into a green city.
More Details🧐 Dr. Yasmine Fouad explained that work is underway on several main verticals to transform Sharm El Sheikh into a green city, including reducing the use of single-use plastic, obtaining the green label for hotels, & holding competitions between hotels on best environmental practices.
Why is this Important🤔 The initiative to turn Sharm El Sheikh into a green city comes in great part due to the city hosting next year’s climate change conference (COP27) in November.
Reddit Files for IPO🚀
Social content & discussions platform “Reddit” has filed for an IPO
More on Reddit🤖 Founded in 2005, Reddit allows its users to trade comments, stories, photos & videos using topic-based message boards. The company’s been considering an IPO for some time.
Is that the same Reddit as…😮 Yup, the same Reddit that sparked the “meme-stock” frenzy earlier this year by day traders who use the platform.
The most iconic meme-stock, GameStop (GME), soared from less than $20/share to almost $350/share in under a month.
More Details🧐 The number of shares to be offered, & the price range for the IPO haven’t been determined yet.
Why is this Important🤔 Reddit recorded $100 million in ad revenue in Q2-2021, a 200% year-over-year increase. Reddit has more than 50 million daily users, & is valued at more than $10 billion following its latest funding round.
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