Egypt's Finance Minister Ahmed Kouchouk said on Thursday that a second package of tax facilitation measures will incorporate recommendations from recent consultations with tax and accounting professionals, as the government seeks to strengthen trust (...)
Egypt's stock market (EGX) closed in the red zone on Tuesday.
* The benchmark index, EGX30 went down 0.62 per cent to 41,253.02 points.
* The Shariah index, EGX33 dropped 0.02 per cent to 4,445.13 points.
* The index EGX35-LV decreased 0.29 per (...)
Asian shares edged higher on Wednesday, marking a year of strong gains driven by artificial intelligence. Equities across the region posted modest gains, with MSCI's Asia Pacific index excluding Japan up 0.3 per cent and set for its best annual (...)
Gold surged past $4,500 an ounce for the first time on Wednesday, extending a powerful rally across precious metals as investors sought hedges against geopolitical and trade risks and priced in US interest rate cuts next year.
Spot gold rose 0.2 per (...)
Oil prices extended gains for a sixth straight session on Wednesday, supported by strong US economic growth and rising risks of supply disruptions from Venezuela and Russia, although the market still faced the prospect of a quarterly loss on surplus (...)
Egypt's stock market (EGX) closed mostly green on Wednesday.
* The benchmark index, EGX30 went by 0.21 per cent to 41,508.31 points.
* The Shariah index, EGX33 rose 0.03 per cent to 4,445.8 points.
* The EGX35-LV index dropped 0.19 per cent to (...)
Egypt's stock market (EGX) closed in the green zone on Tuesday.
* The benchmark index, EGX30 went up 0.77 per cent to 41,419.32 points.
* The Shariah index, EGX33 added 0.63 per cent to 4,444.54 points.
* The index EGX35-LV rose 0.83 per cent to (...)
Asian markets rose on Tuesday, supported by momentum buying ahead of the festive holidays and safe-haven demand for precious metals. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.39 per cent, while Tokyo's Nikkei edged down 0.1 (...)
Oil prices dipped on Tuesday as traders balanced geopolitical tensions with bearish supply fundamentals. Brent crude fell 13 cents to $61.94 per barrel, while US West Texas Intermediate (WTI) eased 14 cents to $57.87.
The market remains subdued (...)
Gold and silver surged to record highs on Tuesday as a weaker dollar and ongoing geopolitical tensions drove demand for safe-haven metals. Spot gold rose 1 per cent to $4,488.94 per ounce, briefly touching $4,497.55, just below the $4,500 threshold, (...)
The International Monetary Fund (IMF) has reached a staff-level agreement with Egypt on the fifth and sixth reviews under the Extended Fund Facility and the first review under the Resilience and Sustainability Facility, thereby clearing the way for (...)
Egypt's Suez Canal saw the passage of the giant container ship CMA CGM JACQUES SAADE for the first time in two years, marking the full return of vessels from the French shipping group, the Suez Canal Authority said Tuesday.
The transit also included (...)
Asian shares advanced broadly on Monday, tracking technology-led gains on Wall Street. Meanwhile, the yen hovered near record lows against the euro and Swiss franc, as higher interest rates intensified pressure on Japanese government debt.
MSCI's (...)
Spot gold hit a record $4,383.73 per ounce on Monday, driven by expectations of further US Federal Reserve rate cuts, strong safe-haven demand, and a weaker dollar.
The precious metal has surged 67 per cent this year amid geopolitical tensions, (...)
Oil prices rose on Monday as the US intercepted an oil tanker near Venezuela, raising fresh supply concerns. Brent crude climbed 46 cents, or 0.8 per cent, to $60.93 per barrel, while US West Texas Intermediate (WTI) crude gained 46 cents, or 0.8 (...)
Egyptian authorities seized large quantities of petroleum products at a warehouse and uncovered safety and regulatory violations at a liquefied petroleum gas (LPG) cylinder filling factory in Giza, the state petroleum regulator said.
As part of (...)
Egypt's stock market (EGX) closed mixed on Monday.
* The benchmark index, EGX30, went down by 0.59 per cent to 41,102.76 points.
* The Shariah index, EGX33, climbed by 0.10 per cent to 4,416.53 points.
* The index EGX35-LV advanced by 0.26 per (...)
Asian markets fell on Thursday as technology stocks slid on renewed concerns over heavy AI spending, while investors braced for a busy round of central bank meetings highlighting widening global policy divergence.
MSCI's broad Asia Pacific index (...)
Oil prices rose on Thursday as markets assessed potential US sanctions on Russian oil and a blockade of Venezuelan tankers. Brent crude gained 42 cents to $60.10 a barrel, while US West Texas Intermediate (WTI) crude rose 44 cents to (...)
Gold prices were steady on Thursday, supported by dovish signals from the Federal Reserve but limited by a resilient dollar ahead of key US inflation data. Spot gold slipped 0.2 per cent to $4,333.12 an ounce, while US gold futures eased 0.2 per (...)
Egypt's stock market (EGX) closed in the red zone on Thursday.
* The benchmark index, EGX30, went down by 1.39 per cent, to 40,926.86 points.
* The Shariah index, EGX33, dropped by 0.42 per cent to 4,374.7 points.
* The index EGX35-LV fell by (...)
Egypt's Cabinet approved on Wednesday the country's accession to the Preferential Trade Agreement of the Developing-8 (D-8) group and its dispute settlement protocol.
The agreement brings together Egypt and seven other developing Islamic countries (...)
Global markets traded mixed on Wednesday as a noisy US jobs report failed to shift expectations for interest rate cuts.
Equities showed limited reaction to the nonfarm payrolls data, which showed a rebound in job growth in November but a rise in the (...)
Egypt's government is developing a comprehensive strategy to enhance fiscal discipline and improve its debt structure, allocating more resources to service sectors and easing the burden of debt repayment. The plan was discussed on Tuesday during a (...)
Egypt's government is working to reinforce coordination between fiscal and monetary policies to sustain economic activity and maintain financial stability. These efforts were discussed during a meeting on Tuesday between Prime Minister Moustafa (...)