Governors of the European Central Bank (ECB) have expressed concerns over releasing their interest rate forecasts, in a sign an approach to follow the US Federal Reserve's practice may be hard to sell, Reuters reported on Monday.
They attributed (...)
Tesla's shares tumbled more than three per cent in pre-market trading on Monday, as concerns about profitability overshadowed the company's recent global price cuts, as reported by Reuters.
This decline comes on the heels of Tesla slashing prices on (...)
Prime Minister Mostafa Madbouly convened with Mansour Automotive officials at the New Administrative Capital's government headquarters to discuss the company's expansion plans and the potential for manufacturing new models in Egypt.
The Sunday (...)
India is set to become the world's fourth-largest economy by 2025, a year earlier than previously projected, NIKKEI Asia reported on Sunday, citing a revised estimate from the International Monetary Fund (IMF).
This means India, with an estimated (...)
City Farm, an Egyptian enterprise renowned for exporting frozen vegetables to the US, is embarking on an ambitious expansion strategy. This plan is set to broaden its market reach, starting with Kenya and extending into the European continent. The (...)
Reports indicate the European Commission might sue Germany over a gas storage fee seen as breaking EU single market rules. The fee applies to neighbouring countries when buying gas from German storage, according to Reuters citing two informed (...)
Europe's main stock index neared a six-week low on Tuesday, falling 1.4 per cent due to investors avoiding risky assets amidst Middle East tensions, Reuters reported.
This led the pan-European STOXX 600 to its worst day in nearly nine months. Major (...)
A recent study by ABB Motion, titled "Circularity: No Time to Waste," indicates that a staggering 91% of industrial companies are grappling with resource shortages. This has spurred nearly two-thirds of them to ramp up their investments in circular (...)
The New and Renewable Energy Authority (NREA) and the Sovereign Fund of Egypt (TSFE) are poised to present the Zafarana wind farm's subsequent phase to investors for bidding in the latter half of this year.
Insiders disclosed to Daily News Egypt (...)
European governments' impending support for solar power manufacturers may be too late to prevent Meyer Burger, a solar panel maker, from relocating its production from Germany to the US, Reuters reported on Monday.
The Freiberg plant's closure (...)
Marie-Louis Bishara, President of the Readymade Garment Export Council, has declared a 25% surge in garment sector exports for the initial two months of 2024, reaching $464m, up from $371m during the same period in 2023. This significant growth (...)
German companies experienced a decline in price expectations in March, hitting a three-year low, according to the Institute for Economic Research (Ifo), cited by Reuters. The institute also projected that inflation is likely to drop below the target (...)
European stocks started the second quarter on a positive note, with the STOXX 600 index rising by 0.3 per cent by 07:12 GMT on Tuesday, Reuters reported.
Investors, returning from the extended Easter weekend, were keenly observing a series of (...)
The Chemical and Fertilizers Export Council recently signed a memorandum of understanding (MoU) with the Egyptian Association for Industrial and Development (EAID). The primary objective of this collaboration is to enhance cooperation between the (...)
Ukraine made its mark in the European Union (EU) by becoming one of the top three chocolate exporters in 2023, delivering a total of 22,000 tonnes, accounting for 13 per cent of the EU's chocolate imports, Interfax reported on Monday.
Switzerland (...)
March saw continued robust employment gains in the US, with moderated wage growth suggesting a stable labour market that fuels the economy with minimal inflation risk, as per a Bloomberg report on Sunday.
According to Bloomberg's survey, US payrolls (...)
Retail sales in Germany have witnessed a surprising drop in February, falling by 1.9 per cent compared to the previous month, according to recent data released on Thursday.
This downturn defied the predictions made by analysts, who, based on a poll (...)
Britain's economy slipped into a mild recession last year, Reuters reported citing official data on Thursday, posing a challenge for Prime Minister Rishi Sunak to convince voters of economic stability ahead of an anticipated election.
The Gross (...)
Egypt's foreign exchange revenues dropped to $121.9 billion in 2022-2023, 24 per cent from $160.5 billion in 2021-2022, according to data published by the Central Agency for Public Mobilisation and Statistics (CAPMAS).
The decline was mainly due to (...)
The Central Agency for Public Mobilization and Statistics (CAPMAS) issued the Annual Bulletin of Foreign Exchange Receipts and Payments Statistics for 2022/2023.
The total foreign exchange receipts amounted to $121.9bn in 2022/2023, a decrease of (...)
German consumer sentiment is expected to remain on its way for slow recovery in April, according to a recent survey.
The consumer sentiment index released jointly by GfK and the Nuremberg Institute for Market Decisions (NIM) rose slightly heading (...)
New car sales in the European Union rose by 10.1 per cent year-on-year in February, with France, Italy, Spain, and Germany all posting robust growth, Reuters reported on Thursday, citing the European Automobile Manufacturers Association (...)
Germany's economic slump showed signs of easing in March, with the service sector nearing stability, according to a monthly survey released on Thursday.
The HCOB German Flash Composite Purchasing Managers' Index (PMI), which tracks both the services (...)
European leaders and energy experts are set to advocate for a revival of nuclear energy on Thursday at a summit in Brussels, aiming to rejuvenate an industry that has been in decline for years, according to Reuters.
The push for nuclear expansion, a (...)
Eurozone bond yields remained relatively stable on Tuesday, with the global market's attention turning to the Bank of Japan's decision to end its eight-year practice of negative interest rates, Reuters reported.
The benchmark 10-year bond yield in (...)