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War in Ukraine
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Economy
9/28/2022 11:50:15 AM
Turkey's booming wartime trade with Moscow took a giant step back on Wednesday with confirmation that the last three banks still processing Russian payments were pulling out under pressure from Washington.
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Business
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Economy
9/26/2022 9:48:16 PM
The governor of the South African Reserve Bank recently announced an increase in the lending rate by 75 basis points. This means the repo rate (the rate at which the central bank lends money to commercial banks) will increase from 5.5% to 6.25% and the prime rate (the rate commercial banks charge their clients when lending them money) rises from 9.0% to 9.75%.
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Business
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Economy
9/26/2022 9:09:57 PM
Experts have been eyeing national and private banks’ steps in the wake of the Central Bank of Egypt's (CBE) recent decision to keep interest rates unchanged and raise the Reserve Requirement (RR) ratio for the first time in five years.
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Business
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Markets & Companies
9/23/2022 5:32:31 PM
Stocks tumbled worldwide Friday on more signs the global economy is weakening, just as central banks raise the pressure even more with additional interest rate hikes.
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World
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International
9/22/2022 11:10:09 PM
Stocks fell on Wall Street in afternoon trading on Thursday and added to weekly losses for major indexes as central banks around the world hiked interest rates to fight inflation.
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World
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International
9/22/2022 3:35:48 PM
Britain's central bank has raised its key interest rate by another half-percentage point, avoiding more aggressive steps to tame inflation that the U.S. Federal Reserve and other banks have taken.
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World
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Region
9/16/2022 10:00:00 PM
Lebanese depositors, including one armed with a hunting rifle, broke into at least five banks on Friday to demand their trapped savings, a sign of growing chaos in the small Mediterranean nation amid a historic economic meltdown.
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World
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Region
9/16/2022 7:01:04 PM
Five Lebanese banks were stormed Friday by depositors seeking to unlock frozen savings, the latest in a string of such "heists" in the crisis-hit country that have garnered wide public support.
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Business
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Economy
9/8/2022 5:40:59 PM
The European Central Bank made its largest-ever interest rate increase Thursday, following the U.S. Federal Reserve and other central banks in a global stampede of rapid rate hikes meant to snuff out the inflation that is squeezing consumers and pushing Europe toward recession.
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Al-Ahram Weekly
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Egypt
9/5/2022 10:55:00 AM
The Central Bank of Egypt has raised its limits on deposits and withdrawals at Egyptian banks, reports Doaa A. Moneim
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World
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International
8/29/2022 2:30:18 PM
Tens of millions of people across swathes of Pakistan were Monday battling the worst monsoon floods in a decade, with countless homes washed away, vital farmland destroyed, and the country's main river threatening to burst its banks.
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Business
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Economy
8/26/2022 2:03:00 PM
The Central Bank of Egypt (CBE) has instructed banks to remove maximum limits for deposits by individuals and companies at bank branches and ATMs, according to a circular released on Thursday.
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War in Ukraine
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Economy
8/16/2022 11:47:50 AM
Oil prices extended losses Tuesday after below-par US and Chinese data reinforced recession expectations, while equities were mixed as traders debate whether the data will allow central banks to temper their interest rate hikes.
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Business
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Economy
8/2/2022 12:50:03 PM
The US dollar exchange rate surpassed EGP 19 during Tuesday's transactions at Egypt's major banks.
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Business
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Economy
8/1/2022 3:48:43 PM
The US dollar exchange rate registered 19 EGP at the Central Bank of Egypt while it neared 19 EGP at the beginning of Monday's transactions at Egypt's major banks.
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World
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International
7/21/2022 3:12:47 PM
The European Central Bank raised interest rates Thursday for the first time in 11 years, joining steps already taken by the U.S. Federal Reserve and other major central banks but raising new questions about whether the rush to make credit more expensive will plunge major economies into recession at the price of fighting inflation.
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Business
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Markets & Companies
7/20/2022 1:35:05 PM
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War in Ukraine
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Economy
7/18/2022 3:20:12 PM
Across Europe, signs of distress are multiplying as Russia's war in Ukraine drags on. Food banks in Italy are feeding more people. German officials are turning down the air conditioning as they prepare plans to ration natural gas and restart coal plants.
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World
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Region
7/3/2022 7:36:04 PM
Cash-strapped Sri Lanka on Sunday extended school closures for one week because there isn't enough fuel for teachers and parents to get children to classrooms, and the energy minister appealed to the country's expatriates to send money home through banks to finance new oil purchases.
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Business
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Energy
7/1/2022 3:05:32 PM
The rust-colored tower rising from an industrial site near the banks of Berlin's Spree river looks nothing like the sleek flasks Germans use for coffee, yet its purpose is similar: to provide some warmth throughout the day, especially when it's cold outside.
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