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Business - Economy
5/20/2024 2:41:42 PM
The global inflationary wave has raised Egypt's import bill by $4 billion per month due to the rise in global prices, increased shipping costs, and exchange rate fluctuations, Minister of Finance Mohamed Maait stated on Monday.

Business - Economy
5/14/2024 7:52:46 PM
The Egyptian pound’s rate against the US dollar declined on Tuesday to 46.92 for selling and 46.79 for buying, its strongest point since 23 March, according to the official exchange rate of the Central Bank of Egypt.

Business - Economy
5/9/2024 12:33:09 PM
Egypt’s headline inflation rate decelerated, for the second consecutive month, in April to 32.8 percent, down from 33.1 percent in March, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced Thursday.

War on Gaza - War on Gaza
5/2/2024 9:03:05 PM
The Palestinian economy is estimated to shrink by 26.9 percent after seven months of Israel's Gaza war, with the poverty rate surging, said a new United Nations Development Programme (UNDP) assessment released Thursday.

Business - Economy
5/2/2024 11:22:01 AM
The US Federal Reserve on Wednesday held interest rates steady for a sixth straight meeting, keeping the level at a 23-year high to fight stubborn price increases.

Business - Economy
4/30/2024 5:23:29 PM
The recent unification of the foreign exchange rate in Egypt will contribute to attracting more foreign direct investments into the country, Ramy Amin, co-founder and managing director of the UAE-based Freezoner, told Ahram Online.

Business - Markets & Companies
4/30/2024 5:21:18 PM
Eurozone equities sagged Tuesday, weighed down by the strong euro as investors digested bright economic news, while London hit another record peak on earnings-driven optimism.

Business - Economy
4/27/2024 3:06:15 PM
The International Monetary Fund (IMF) issued on Friday the technical reports concerning the completion of the first and the second reviews of the fund’s Extended Fund Facility loan programme that has been recently expanded from $3 billion to $8 billion.

Business - Economy
4/24/2024 4:16:31 PM
The US dollar exchange rate declined against the Egyptian pound at major banks on Wednesday, reaching EGP 47.8 down from EGP 48 recorded on Sunday.

Business - Economy
4/23/2024 3:01:53 PM
The Central Bank of Egypt (CBE) is expected to cut the key interest rates in May by two percent (200 bps), based on its view of inflation decreasing to 20 percent by the end of 2024, the US-based investment bank Goldman Sachs said in a research note.

Business - Economy
4/23/2024 11:02:53 AM
Asian markets mostly rose Tuesday and London hit a fresh record, with hopes for earnings this week from tech titans helping to offset worries about the Federal Reserve's interest rate plans ahead of the release of key US growth and inflation data.

Business - Economy
4/22/2024 12:14:04 PM
Markets in Asia apart from Shanghai's were broadly higher Monday, shrugging off the blues on Wall Street after big technology stocks logged their worst week since the COVID crash in 2020.

Business - Economy
4/18/2024 1:40:23 PM
Major stock markets in Asia and Europe mostly rose Thursday with traders mulling the outlook for US interest rates as Federal Reserve officials questioned the need for a cut anytime soon.

Business - Economy
4/17/2024 6:45:00 PM
Egypt’s external debt is projected to rise during the current FY2023/2024 due to the depreciation in the exchange rate, Era Dabla-Norris, the Deputy Director of the Fiscal Affairs Department at the International Monetary Fund (IMF), told Ahram Online.

World - International
4/17/2024 12:40:05 PM
At least 65 people have died in storm-related incidents including lightning in Pakistan, officials said, with rain so far in April falling at nearly twice the historical average rate.

Business - Economy
4/16/2024 11:13:11 PM
The US Federal Reserve's ongoing fight against inflation could take "longer than expected," the head of the US central bank said Tuesday, further paring back the chances of early rate cuts.

Business - Economy
4/11/2024 3:58:36 PM
The European Central Bank held interest rates steady again Thursday but said slowing inflation could open the door to easing monetary policy, raising hopes of a first cut in June.

Business - Markets & Companies
4/11/2024 2:04:30 PM
Asian and European stock markets mostly fell Thursday before the European Central Bank's latest interest rate decision, after hotter-than-expected US inflation dented hopes for Federal Reserve rate reduction any time soon.

Business - Markets & Companies
4/9/2024 3:36:59 PM
European equities dipped in early trading Tuesday while Asian stocks closed mostly higher, as investors mainly focused on a U.S. inflation report and what it means for interest rate cuts by the Federal Reserve.

Business - Economy
4/3/2024 3:31:47 PM
Wall Street shifted between small gains and losses in premarket trading Wednesday, a day after anxiety over the potential for fewer interest rate cuts dragged markets to their worst day in weeks.

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