Egypt's Ministry of Planning and Economic Development allocates a total of 9.7 billion Egyptian pounds for 189 development projects in Suez governorate in FY 2023/24, according to an official statement.
The petroleum sector receives the largest (...)
Egypt's gold prices increased on Sunday at 11:50 am, compared to May 16st, according an electronic gold price platform.
Metal May 19th (EGP) May 16th (EGP) Change %
24 Carat 3,617.25 3,582.75 0.96
21 Carat 3,165.50 3,135.00 0.97
18 Carat (...)
China's pickup truck market defied the trend towards passenger cars, registering a 4.4 per cent year-on-year increase in sales for April, Xinhua reported citing industry data from the China Passenger Car Association on Sunday.
Despite the rise, (...)
China's central bank (PBOC) fined seven businesses, including a KFC franchise, for refusing cash payments, with penalties ranging from 3,000 yuan to 55,000 yuan, the highest targeting a real estate developer in Inner Mongolia, the NIKKEI Asia (...)
Egypt's food exports reached 405,000 tons in the week ended on May 14, marking an increase of 125,000 tons compared to the previous period, National Food Safety Authority (NFSA) reported on Sunday.
The exported products boasted a remarkable variety. (...)
The Central Bank of Egypt (CBE) is offering 55 billion Egyptian pounds in treasury bills (T-bills) on Sunday, in coordination with the Ministry of Finance, according to a CBE statement on its website.
The auction shall be in two tranches: 30 billion (...)
China's commerce ministry is investigating possible dumping of POM copolymers, a type of industrial chemical, imported from the European Union, United States, Japan, and Taiwan, Reuters reported on Sunday.
POM copolymers are engineering chemicals (...)
Egypt and China reaffirmed their commitment to collaboration in the railway sector during a meeting between the Egyptian Minister of Transport Kamel El-Wazir and Chinese Deputy Minister of Transport, Fai Dongbin, the Cabinet reported on Sunday.
They (...)
Billionaire Elon Musk recently launched SpaceX's satellite internet service, Starlink, in collaboration with Indonesian Health Minister Budi Gunadi Sadikin, targeting the country's health sector, Reuters reported on Sunday.
"I'm very excited to (...)
Egypt's Ministry of Planning and Economic Development earmarked four billion Egyptian pounds ($203 million) for a substantial investment plan in Qena governorate, the Cabinet reported on Sunday.
The Citizen Investment Plan which aligns with the (...)
Gold prices edged up on Thursday following US consumer inflation data eased concerns about rising prices, boosting expectations of interest rate cuts from the Federal Reserve, Reuters reported.
Spot gold climbed 0.2 per cent to $2,391.78 per ounce, (...)
The Central Bank of Egypt (CBE) on Thursday announced a total of 45 billion Egyptian pounds in two treasury bill auctions, according to a CBE statement on its website.
This auction offers investors two options for investing in government debt with (...)
Microsoft is offering relocation opportunities to around 700-800 China-based employees specialising in machine learning and cloud computing due to tensions between the US and China, Reuters reported on Thursday.
The employees, mostly Chinese (...)
Japan's Honda Motor announced a significant ramp-up in its electrification efforts, pledging to invest a staggering $65 billion over the next decade, Reuters reported on Thursday. This represents a doubling of its previous commitment made in (...)
Egypt's gold prices increased on Thursday at 12:00, compared to May 15st, according an electronic gold price platform.
Metal May 16th (EGP) May 15th (EGP) Change %
24 Carat 3,582.75 3,554.25 0.80
21 Carat 3,135.00 3,110.00 0.80
18 Carat (...)
The Japanese yen has seen a two-day rally on Thursday, bolstered by data released on Wednesday indicating a slowdown in US inflation, Reuters reported.
This comes as the dollar stabilises against other currencies following a significant decline the (...)
Asian stock markets surged on Thursday, mirroring Wall Street's record highs after a softer-than-expected US inflation report fuelled expectations of interest rate cuts from the Federal Reserve, Reuters reported.
MSCI's broadest Asia-Pacific index (...)
China's leading banks have taken a significant step towards meeting international financial regulations by issuing their first-ever loss-absorbing bonds, the Financial Times reported on Thursday.
This move aims to prevent a repeat of the 2008 (...)
Japan's economy contracted in the first quarter of 2024, posing a challenge for policymakers, especially the Bank of Japan (BOJ), which hinted at raising interest rates, CNN reported citing Reuters report on Thursday.
Preliminary data from the (...)
Chinese electric vehicle (EV) manufacturers, including BYD, are expediting shipments to Mexico and Brazil in anticipation of rising tariffs and potential trade barriers, the NIKKEI Asia reported on Thursday.
This follows the US announcement of a 100 (...)
The Philippine central bank maintained the key interest rate at 6.50 per cent for the fifth consecutive meeting, signalling a potential rate cut in August, the NEKKEI reported on Thursday.
The Bangko Sentral ng Pilipinas (BSP) revised its inflation (...)
China's demand for imported iron ore may have reached its peak, but the types of imports are expected to change as the country aims to reduce carbon emissions, Reuters reported on Thursday.
China, the largest steel producer in the world, purchased a (...)
India's steel industry is bracing for a potential influx of Chinese steel imports following the US decision to impose steep tariffs on Chinese steel and aluminum, Reuters reported on Thursday.
Industry executives and analysts warn this could (...)
Indian automaker Mahindra & Mahindra (M&M) is investing 120 billion rupees ($1.44 billion) in its electric vehicle (EV) unit following strong sales of its SUVs, which led to better-than-expected profits in the Q4, Reuters reported on Thursday.
The (...)
Japan's Toshiba Corporation announced plans to cut up to 4,000 jobs domestically as part of an accelerated restructuring effort under its new ownership, the NIKEEI Asia reported on Thursday.
Toshiba recently announced a major workforce reduction, (...)