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Al-Ahram Weekly
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Economy
2/12/2024 10:33:00 AM
The second hike in cooking oil prices has taken place in less than a month, this time by at least 50 per cent, reports Amira Hisham
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Al-Ahram Weekly
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Economy
2/7/2024 7:22:05 PM
Why has food inflation in Egypt continued to rise despite global trends towards lower prices?
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Business
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Economy
2/1/2024 12:28:44 PM
The global economy is expected to grow by 3.1 percent in 2024 and edge slightly higher to 3.2 percent in 2025, with projections indicating a moderate growth trajectory and a gradual easing of inflationary pressures over the next couple of years, according to the International Monetary Fund’s 2024 World Economic Outlook Report.
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Business
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Economy
1/31/2024 2:50:16 PM
The Red Sea crisis will further elevate public sector gross financing needs for most emerging markets and middle-income countries in MENA, especially Egypt and Tunisia, stated the Regional Economic Outlook (REO) report on the Middle East and Central Asia.
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Business
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Economy
1/30/2024 3:06:10 PM
The International Monetary Fund (IMF) has downgraded its forecasts for Egypt’s real GDP growth in the current FY2023/2024 to three percent, down from the 3.6 percent it projected in October, according to the updated World Economic Outlook (WEO) report released on Tuesday.
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Business
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Economy
1/26/2024 5:45:08 PM
The price of luxury Islamic pilgrimage (Hajj) programmes soared by 45 percent to up to EGP 450,000, while the land pilgrimage prices surged by 73 percent to up to EGP 255,000, according to data released by the Ministry of Tourism and Antiquities.
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Business
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Economy
1/24/2024 2:36:33 PM
Global rating agency Moody’s has changed the future outlook for five major Egyptian state-owned and private banks from stable to negative, while maintaining their long-term deposit ratings at CAA1 and B3, according to a report by the agency on Tuesday.
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Business
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Economy
1/23/2024 10:17:27 AM
The Egyptian government has pledged to pay EGP 1.4 billion (more than $45 million) annually, covering the real estate tax for the industrial, poultry, and animal production sectors until the end of 2026, Minister of Finance Mohamed Maait said on Monday.
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Business
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Economy
1/22/2024 6:05:09 PM
Global credit rating agency Moody's has expected the International Monetary Fund (IMF) to increase its existing $3 billion loan programme for Egypt to $10 billion, according to a recent report by the agency.
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Business
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Economy
1/20/2024 2:09:35 PM
The International Monetary Fund (IMF) team, led by Mission Chief for Egypt Ivanna Vladkova Hollar, is currently in Cairo for ongoing discussions on the first and second reviews of Egypt’s reform programme supported by the IMF’s Extended Fund Facility (EFF), the IMF’s spokesperson told Ahram Online (AO).
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Business
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Economy
1/16/2024 9:42:46 PM
The US Federal Reserve is "within striking distance" of reaching its long-term inflation target and could begin cutting interest rates this year, a senior official said Tuesday.
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Business
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Economy
1/16/2024 6:12:00 PM
Egypt's geopolitical significance demonstrated through its role as a mediator in containing Israel's conflict in Gaza is expected to draw increased foreign financial support, potentially exceeding $5 billion, according to Ramona Moubarak, the head of MENA Country Risk at Fitch Solutions.
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Business
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Economy
1/15/2024 6:01:43 PM
The historic Abu Qurqas Sugar Factory decided to halt cane sugar production after 155 years, due to a sharp reduction in sugar cane supply to the factory, Issam El-Din El-Badawi, head of the Egyptian Sugar and Integrated Industries Company (ESIIC) affiliated with the Ministry of Supply and Internal Trade, said on Sunday.
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Business
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Economy
1/11/2024 10:36:34 PM
Wall Street is slipping Thursday after a warmer-than-expected report on inflation forced some investors to push back forecasts for when the Federal Reserve could deliver long-sought cuts to interest rates.
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Business
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Economy
1/11/2024 7:57:56 PM
Consumer inflation in the United States rose more than anticipated in December, government data showed Thursday, with President Joe Biden conceding he must do more to tackle high prices.
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Business
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Economy
1/10/2024 7:59:38 PM
Egypt's annual core inflation rate decelerated by 1.7 percent in December to 34.2 percent, down from 35.9 percent in November, according to the data released by the Central Bank of Egypt (CBE) on Wednesday.
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Business
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Economy
1/10/2024 3:41:25 PM
The Egyptian government plans to develop an AI-based system to predict crises in the local marjet, especially hikes in the prices of commodities and staples, Osama El-Gohary, assistant Prime Minister and head of the Cabinet’s Information and Decision Support Centre (IDSC), said on Wednesday.
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Business
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Economy
1/10/2024 2:00:22 PM
Egypt's annual headline inflation decelerated to 35.2 percent in December, down from 36.4 percent in November, the Central Agency for Public Mobilization and Statistics (CAPMAS) reported on Wednesday.
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Al-Ahram Weekly
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Egypt
1/9/2024 9:41:25 PM
New high-yield savings certificates have been introduced by Egypt’s banks in a bid to curb inflation and put the brakes on gold, reports Safeya Mounir
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Al-Ahram Weekly
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Egypt
1/9/2024 9:39:28 PM
What can be done to rein in runaway prices, asks Ahmed Abdel-Hafez in interviews with experts
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