A delivery driver for Glovo cycles in downtown Milan, Italy. Reuters
Egypt’s unemployment rate dropped to 8.1 per cent in the first quarter of 2019 from 10.6 per cent in same period the previous year, state statistics agency CAPMAS said on Wednesday.
Egypt’s non-oil private sector economy saw renewed growth in April, according to latest PMI data. Output expanded for the first time in nearly one-and-a-half years and new business increased at a faster rate. Input purchasing and job numbers also rose, while business sentiment towards the year-ahead outlook for activity strengthened.
Egypt’s communications ministry will begin work on a 40 billion Egyptian pound ($2.44 billion) telecommunications network in the first phase of a new capital city being built east of Cairo, a cabinet statement said.
Businesses and healthcare providers in the UAE looking for an easier way to source and secure personal protective equipment (PPE) can now do so through Dubai Chamber of Commerce and Industry’s newly launched Response Initiative (RRI).
Spot gold was up 0.6% to $1,808.25 per ounce at 0933 GMT. US gold futures were up 0.6% at $1,813.30.
The blue-chip FTSE 100 was up 1.3%, with fewer than 10 stocks in the red in early trading, while the mid-cap FTSE 250 added 1.0%, led by the auto, personal goods and mining sectors.