Egyptian Stock Exchange (EGX) traders and investors have demanded an immediate investigation into Monday's service disruptions at the Misr for Central Clearing, Depository and Registry (MCDR). The outage significantly impacted trading by leaving (...)
Dina Abdel Fattah
Throughout history, humanity has often borne the heavy cost of rulers' obsessions. These leaders, whether afflicted by severe psychiatric issues or driven to madness, have left millions of people as victims of their destructive (...)
Egyptians working in both public and private sectors will enjoy a paid holiday on Thursday, April 25th, 2024, in celebration of Sinai Liberation Day, a Cabinet statement said on Thursday.
This decision reflects the government's desire to honour the (...)
Egypt's Finance Minister, Dr. Mohamed Maait, affirmed the country's commitment to a comprehensive debt management strategy aimed at lowering the debt-to-GDP ratio to below 80% by 2027, according to a Cabinet statement published on Thursday.
"The (...)
Egypt's Finance Minister, Dr. Mohamed Maait, stressed the detrimental impact of Africa's financing gap on development investment rates. He emphasised the need for debt alleviation to achieve developmental and climate goals across African nations, (...)
The European chemicals sector is bracing for a period of significant change, caught between the headwinds of stricter regulations and the tailwinds of a booming renewable energy market. A recent report by S&P Global Market Intelligence highlights (...)
Iran launched on Saturday night an ICBM and drone attack on Israeli targets in retaliation for the Israeli raid of Iranian Consulate in Damascus, Syria, on April 1st. Despite the escalating conflict, Middle East oil supplies remain unaffected for (...)
US Steel shareholders voted in favour of the $14.9 billion acquisition by Nippon Steel of Japan. Over 98% of votes approved the deal, where Nippon will acquire each share for $55, Reuters reported on Friday.
However, the deal faces opposition. US (...)
US stocks suffered a sharp decline on Friday as major banks' earnings reports failed to meet expectations. This capped off a volatile week dominated by concerns about inflation, shifting Federal Reserve policy stances, and escalating geopolitical (...)
A University of Michigan survey revealed a decline in US consumer sentiment in April. This coincides with rising household expectations for inflation in the coming year, potentially influencing the Federal Reserve to postpone interest rate cuts (...)
Gold prices rose above $2,400 per ounce to an all-time high on Friday, heading for their fourth week of gains, as growing tensions in the Middle East prompted investors to seek refuge in the safe-haven assets, according to Reuters.
Spot gold eased (...)
Oil prices edged up roughly 1 per cent on Friday due to geopolitical tensions in the Middle East. Despite this gain, oil closed the week with losses due to the International Energy Agency's (IEA) downward revision of global oil demand growth and (...)
China's economy is estimated to have expanded by 4.6% in the first quarter compared to the previous year, marking the slowest growth rate in a year. Despite tentative signs of stabilization, this modest growth rate puts continued pressure on (...)
Stock prices in Asia followed Wall Street lower on Thursday. This came after stubbornly high inflation in the United States caused investors to become less optimistic about the Federal Reserve cutting interest rates later this year. As a result, the (...)
The global economy is showing signs of improvement, expanding for the fifth month in a row. This growth is driven by both manufacturing and service sectors, with services leading the way at an eight-month high. This positive trend is even stronger (...)
Oil prices climbed slightly on Thursday, extending gains from the previous day. This increase reflects investor concerns about a potential escalation in the Middle East crisis, particularly involving Iran, a major oil producer, Reuters reported on (...)
Gold prices climbed slightly on Thursday, reversing some recent losses. This rise reflects renewed interest in gold as a safe haven asset due to rising geopolitical tensions, Reuters reported.
Spot gold prices inched up, recovering from a dip the (...)
Bernard Arnault, the luxury goods kingpin behind LVMH, remains the world's richest person according to the 2024 Forbes World's Billionaires List, according to Forbes website.
Hot on Arnault's heels are tech giants Elon Musk and Jeff Bezos, each (...)
Amwal Alghad Magazine, the economic media arm of the United Media Services Group (UMS), congratulates Egypt's President Abdel Fattah El Sisi on taking the constitutional oath for a new six-year term to continue the building of the new republic and (...)
According to an official statement on the Fed's website, Christopher J. Waller, a member of the Federal Reserve Board of Governors, stated on Wednesday (ET) that economic data from the last month underscores his opinion that there is no urgency to (...)
The Egyptian market is gearing up to receive the largest foreign exchange inflows, amounting to approximately $50 billion. These inflows will enhance foreign exchange liquidity and reflects a very favorable and optimistic trend in terms of currency (...)
Egypt raised the price of gasoline in the local market by one Egyptian pound per litre effective Friday March 22, according to a statement issued by the Ministry of Petroleum and Mineral Resources late Thursday.
The ministry attributed the increase (...)
The Central Bank of Egypt decided to cancel the meeting of the Monetary Policy Committee scheduled for Thursday, March 28, 2024, the Middle East News Agency (MENA) reported on Wednesday.
The central bank said, according to MENA, that the decision to (...)
* Paying the Ministry of Finance's overdrawn account, totaling EGP 2 trillion, is an urgent imperative to control inflation rates.
* Hedging against hot money swings and their impact on foreign reserves and liquidity surpluses.
* The exchange (...)
Egypt's monetary policy is heading in the right path, according to Hisham Ezz Alarab, Board Chairman of Egypt's Commercial International Bank (CIB), as long as there is liquidity available for buying and selling.
He stated in a blog post on the X (...)