The Egyptian Mercantile Exchange (EMX) has appointed Hossam Ahmed Al-Jarawi as deputy chairman of the board of directors, according to a statement obtained by Amwal Al Ghad English on Thursday.
Since December 1, 2023, Al-Jarawi has served as the (...)
The US economy grew at a sluggish 1.6 per cent annual rate in the first quarter of 2024, according to a preliminary estimate released by the Bureau of Economic Analysis (BEA) on Thursday
This marks a significant slowdown from the robust 3.4 per cent (...)
Egypt launched a citizenship by investment programme, granting citizenship for investments of $250,000 within 6-9 months, said Sherif Samy, deputy executive director of citizenship applications office.
During the second edition of the Global Citizen (...)
Gulf stock markets dipped slightly on Wednesday as tensions flared between Israel and Gaza, as reported by Reuters.
Saudi Arabia's main stock index fell 0.2 per cent, dragged down by losses in banking stocks. The kingdom's economic growth is (...)
Asian stocks surged on Wednesday, led by a rally in technology shares, as investors shifted their focus to upcoming earnings reports from major US tech companies, Reuters reported.
The sentiment was boosted by a surge in Tesla's share price (...)
Gold prices edged higher on Wednesday, reaching $2,325.23 per ounce, but remained confined to a tight trading range, as reported by Reuters.
Investors are awaiting key US economic data releases this week for clues on the Federal Reserve's interest (...)
Japanese chemical company Asahi Kasei plans to construct a new $1.3 billion plant in Canada to manufacture essential components for electric vehicle (EV) batteries, The Nikkei Asia reported on Wednesday.
The facility will primarily serve Honda (...)
The ruling party in Japan is closely monitoring the yen's recent slide towards 160 to the dollar, Reuters reported on Wednesday.
While there is no unanimous agreement within the party, the currency's further decline could prompt policymakers to take (...)
Egypt's gold prices fell slightly on Wednesday at 12:00 pm compared to April 23rd, with the average price across all carats dropping by almost 0.48 per cent, according to an electronic gold price platform.
Metal April 24th (EGP) April 23th (EGP) (...)
In a surprise move, Bank Indonesia (BI) raised interest rates on Wednesday in a bid to stabilise the rupiah currency, Reuters reported.
The rupiah has weakened to a four-year low due to rising global risk aversion and a delay in anticipated US (...)
China's domestic coal prices are expected to surge past 2023 highs this year, Reuters reported on Wednesday, citing the China Coal Transportation and Distribution Association (CCTD).
This forecast comes despite anticipated flat coal output and a (...)
Struggling Chinese property developer Country Garden has secured an extension on payments for three onshore bonds, according to a statement released on Wednesday, reported by Reuters.
This move provides the company with crucial breathing room to (...)
Egypt's National Navigation Company (NNC) signed a contract for building two 82,000-ton state-of-the-art clean dry bulk ships with China's Jiangsu Hantong Ship Heavy Industry shipbuilder, the cabinet announced on Wednesday.
The ships are scheduled (...)
China's yuan gained ground against the US dollar on Wednesday, as reported by Xinhua. The central parity rate, a key benchmark set by the People's Bank of China (PBC), rose 11 pips to 7.1048 yuan per dollar.
China operates a managed float system for (...)
China's capital goods prices edged higher in mid-April compared to the beginning of the month, according to official data released on Wednesday, as reported by Xinhua.
The National Bureau of Statistics (NBS) reported that out of 50 major capital (...)
China's central bank injected two-billion-yuan ($281.5 million) liquidity into the banking system on Wednesday, through a seven-day reverse repo operation, Xinhua reported.
The central bank stated that this operation aims to maintain reasonable and (...)
The International Energy Agency (IEA) has adjusted its forecast for Russian gas production in 2024, predicting a five per cent increase to 670 billion cubic metres (bcm), Tass reported on Wednesday.
This upward revision comes in at a slightly higher (...)
Volkswagen, facing intense competition in China's electric vehicle (EV) market, is setting a target to maintain its current market share of around 15 per cent (four million cars annually) until 2030, as reported by Reuters on Wednesday.
The company (...)
Gold prices tumbled on Tuesday, touching their lowest level in over two weeks, as concerns about a major escalation in the Middle East conflict waned, according to Reuters.
This decline was further fuelled by profit-taking from investors who saw an (...)
The Central Bank of Egypt (CBE) has decided to amend to its main operation effective today, April 23rd, 2024, as per CBE reported.
The bank said the main operation (7-days) will be carried out through a fixed-rate operation with full allotment at (...)
Asian stocks continued their upward trajectory on Tuesday, gaining 0.8 per cent, fueled by gains on Wall Street and anticipation surrounding earnings reports from US tech giants, as reported by Reuters.
However, a strong dollar and lingering (...)
The Central Bank of Egypt (CBE) announced that foreign customer investments in treasury bills rose to 424.381 billion Egyptian pounds by the end of January 2024, compared to 393.151 billion pounds at the end of 2023.
The private sector banks' (...)
The Central Bank of Egypt (CBE) announced on Tuesday a significant rise in loan balances at Egyptian banks, reaching 5.286 trillion pounds by the end of December 2023 compared to 4.012 trillion pounds recorded at the close of 2022.
The report showed (...)
Pakistan is aiming to secure a new loan agreement with the International Monetary Fund (IMF) by early July, Reuters reported on Tuesday, citing its Finance Minister Muhammad Aurangzeb.
The new deal, if secured, would be a significant long-term (...)
Egypt's gold prices experienced a notable decline of 3.08 per cent across all major carat measurements on Tuesday at 12:00 pm, compared to April 22st, according to an electronic gold price platform.
The price fall is attributed to the major decline (...)