Egypt

While the algos are focusing on where the next "OPEC freeze" headline (and subsequent rejection) will come from, Saudi Arabia is quietly creating a new alliance among the U.S. "reject" nations in the region.

Earlier today, Turkish President Recep Tayyip Erdogan welcomed Saudi Arabia’s King Salman bin Abdulaziz at the Presidential Palace in Ankara on Tuesday. After an official welcoming ceremony, Erdogan presented the order of the State of the Republic of Turkey to the Saudi monarch. It is the Saudi king's first visit to Turkey since ascending the throne early last year.

Scans of the burial chamber of King Tutankhamun, an Egyptian Pharaoh who died at the age of 19 around 1324 B.C, have revealed two hidden rooms. The discovery has fueled speculation that the chambers might contain the resting place of Queen Nefertiti, the wife of Tutankhamun’s father, Pharaoh Akhenaten. Canoe reports: Mamdouh el-Damaty told reporters that the secret chambers may contain metal or organic material, but he declined to comment on whether royal treasure or mummies could be inside.

Facing a severe shortage of dollars and dwindling (if momentarily stable) FX reserves, Egypt moved to devalue the pound by around 13% on Monday in a move the central bank says will help attain “exchange-rate levels that reflect the strength and real value of the local currency in a short period of time.”

The central bank sold $198.1 million at auction at 8.85 versus 7.73 previously. Here's a look at the EGP versus Egypt CDS which had recently diverged quite markedly relative to recent history:

The death of a taxi driver who was shot dead by a junior police officer in Egypt over a minor dispute has sparked anger and protests among ordinary Egyptians. Hundreds of people have rallied in Egypt’s capital, Cairo, protesting the death of a 24-year-old taxi driver killed by a police officer dressed in civilian clothes. The excesses of Egypt’s Police and security forces under Hosni Mubarak was one of the main reasons for the 2011 uprising. The other reasons besides security, were an increased demand for food, jobs and a future, from a growing and a connected population.

Presidents, Prime Ministers, Congressmen, Generals, Spooks, Soldiers and Police ADMIT to False Flag Terror

In the following instances, officials in the government which carried out the attack (or seriously proposed an attack) admit to it, either orally, in writing, or through photographs or videos: