The Bank of England has focused on fighting inflation with an 11th consecutive interest rate increase despite concerns about the economic fallout from troubles in the global financial system
|
Benchmark U.S. crude oil for May delivery rose $1.23 to $70.90 a barrel Wednesday. Brent crude for May delivery rose $1.37 to $76.69 a barrel.
|
The US Federal Reserve raised its key rate by another quarter point Wednesday, bringing it to the highest level in 15 years as part of an ongoing effort to balance between curbing high inflation and averting further upheaval in the commercial banking sector.
|
The Minister of Trade and Industry Ahmed Samir announced a three-month ban on all types of sugar exports on Wednesday, except quantities that exceed local market needs.
|
The International Finance Corporation (IFC), a World Bank Group (WBG) financing arm, said on Wednesday it will make an equity investment of up to €25 million in the Mediterrania Capital Partners’ Mediterrania MC IV fund, with the possibility of investing another €20 million later on.
|
The World Bank Group (WBG) Board of Executive Directors approved on Tuesday a new Country Partnership Framework (CPF) for Egypt, laying out the WBG’s strategy in the country for FY2023–2027, the WBG announced on Wednesday.
|
|
|
|
|
Recent financial turbulence could add to "downside risks" in the eurozone, European Central Bank chief Christine Lagarde warned Wednesday, while insisting policymakers remained focused on taming sky-high inflation.
|
European shares were mixed Wednesday after a day of gains in Asia ahead of a decision by the Federal Reserve on interest rates.
|
Ukraine and the International Monetary Fund have agreed on a $15.6 billion loan package aimed at shoring up government finances severely strained by Russia's invasion and at leveraging even more support by reassuring allies that Ukraine is pursuing strong economic policies.
|
American banks will be paying especially close attention to the Federal Reserve's interest-rate decision on Wednesday, as the collapse of Silicon Valley Bank (SVB) continues to reverberate through financial markets.
|
British annual inflation unexpectedly accelerated in February, official data showed Wednesday, in fresh headwinds for a nation battling a cost-of-living crisis.
|
Minister of Petroleum and Mineral Resources Tarek El-Molla announced that Egypt has started experimental production at the Iqat gold mine in the Eastern Desert in the south of Egypt, according to a ministry statement.
|
Stock markets extended gains on Tuesday, with bank shares rallying as fears of a financial crisis eased after authorities moved to shore up the sector.
|
Egyptian Minister of Finance Mohamed Maait has called on the Economic Commission for Africa (ECA) to support Egypt’s ‘Sustainable Debt Coalition’ initiative, inviting member states to join the coalition in order to “unify the African position on the debt crisis in international forums.”
|
Egypt's parliament – the House of Representatives – approved Monday a bill amending the current FY2022/23 budget to earmark an additional EGP 165 billion to fund President Abdel-Fattah El-Sisi's new package of wage and pension hikes and social protection programmes.
|
The US banking sector is "stabilizing" after the recent failures of Silicon Valley Bank and Signature Bank rattled the industry, Treasury Secretary Janet Yellen will tell a summit Tuesday, according to prepared remarks.
|
Egypt’s undeliverable futures recorded an all-time high on Monday, posting EGP 40.25 per $1, up from EGP 39.39 at the opening hour.
|
The Central Bank of Egypt (CBE) has announced the banks’ working hours during the holy month of Ramadan, which is expected to start on Thursday.
|