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Business - Economy
8/27/2024 9:56:34 PM
The International Monetary Fund (IMF) has released its staff report addressing the discussions and the results of the third review of the Extended Fund Facility (EFF) loan programme that was approved for Egypt in December 2022.

Business - Economy
8/27/2024 3:32:50 PM
Egypt’s real GDP growth rate is projected to hit 5.5 percent over the medium term, according to the International Monetary Fund's (IMF) staff report on Monday on the third review of the country’s $8 billion loan programme.

Business - Economy
8/25/2024 8:17:16 PM
Egypt's automotive market is facing mounting pressure from rising prices and dwindling supply. The US dollar's surge against the Egyptian pound, coupled with a shortage of imported vehicles, has fueled the re-emergence of the "over-price" imposed on first-hand vehicles.

Business - Economy
8/23/2024 6:15:00 PM
With inflation nearly defeated and the job market cooling, the Federal Reserve is prepared to start cutting its key interest rate from its current 23-year high, Chair Jerome Powell said Friday.

Business - Markets & Companies
8/21/2024 11:25:27 AM
Asian shares mostly declined Wednesday following a slip on Wall Street that snapped an eight-day winning streak, the longest of the year.

Business - Economy
8/20/2024 2:58:36 PM
The Central Bank of Egypt (CBE) sold EGP 4.162 billion in EGP-denominated treasury bonds (T-bonds) with fixed coupons after accepting 12 bids out of the 73 submitted on Monday, with an annual coupon rate of 25.318 percent and a maturity date of 13 August 2027 for a three-year tenor, according to data from the CBE.

Business - Economy
8/20/2024 12:34:53 PM
Egypt's annual headline inflation rate exhibited a downward trajectory reaching 25.2 percent in July, down from 27.1 percent in June, marking a 1.9 percent decline, according to data from the Central Agency for Public Mobilization and Statistics (CAPMAS).

Business - Markets & Companies
8/15/2024 6:50:54 PM
The exchange rate between the US Dollar and Egyptian Pound decreased on Thursday below EGP 49/ USD1 for the first time in 10 days, according to the Central Bank of Egypt (CBE)’s official website.

Egypt - Society
8/15/2024 6:20:00 PM
Egypt’s unemployment rate has declined to 6.5 percent in the second quarter (Q2) of 2024, nearly a 0.2 percent decrease compared to Q1, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced on Thursday.

Business - Economy
8/14/2024 4:31:58 PM
US consumer inflation eased slightly in July, according to government data published Wednesday, its smallest 12-month increase since March 2021 and a positive sign for the Federal Reserve as it weighs cutting interest rates.

Business - Markets & Companies
8/14/2024 3:47:47 PM
Stock markets mostly advanced Wednesday as attention switched to inflation data, notably in the United States, and the outlook for interest-rate cuts.

Business - Markets & Companies
8/13/2024 5:52:14 PM
Wall Street stocks advanced Tuesday as US producer inflation came in cooler than anticipated but signaled price increases are still easing gradually as hoped, putting the central bank on track for rate cuts.

Business - Economy
8/13/2024 5:04:34 PM
The Central Bank of Egypt (CBE) sold on Tuesday 609.8 million euros in euro-denominated treasury bills (T-bills), with a 364-day maturity period, according to the bank’s website.

Business - Economy
8/12/2024 7:14:14 PM
BMI, a research firm associated with Fitch Solutions, forecasts a depreciation of the Egyptian pound against the US dollar throughout the remainder of 2024.

Business - Markets & Companies
8/12/2024 7:01:10 PM
Global stock markets mostly rose Monday as investors tried to move on from upheaval fuelled by US recession worries, with focus shifting to the week's release of American inflation figures and other key data.

Egypt - Society
8/6/2024 4:45:47 PM
Minister of Education and Technical Education, Mohamed Abdel-Latif, announced the Thanaweya Amma results (final high school exam results) for the 2023/2024 academic year in a press conference on Tuesday, revealing an overall pass rate of 81.3 percent – the highest since 2020.

Business - Economy
8/6/2024 1:35:07 PM
Egypt's food industry exports increased in the first half (1H) of 2024 reaching $3.2 billion, achieving a growth rate of 25 percent compared to the same period in 2023, according to the Food Export Council (FEC).

Business - Economy
8/5/2024 7:33:45 PM
The US dollar reached its highest level against the Egyptian pound on Monday since 7 March, only a day after Egypt’s last EGP devaluation decision, according to the Central Bank of Egypt's (CBE) official website.

Business - Economy
8/2/2024 5:43:14 PM
The US jobs market cooled much more than expected in July with the unemployment rate reaching the highest since late 2021, government data showed Friday, paving the way towards post-pandemic interest rate cuts.

Business - Economy
7/31/2024 8:55:00 PM
The US dollar rate against the Egyptian Pound (EGP) hit its highest level on Wednesday since April.

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