People shop at Al Ataba Market in downtown Cairo. Reuters
Egypt’s annual urban consumer price inflation decreased to 4.8% in September from 7.5% in August, the statistics office said on Thursday, slowing to its lowest level in almost seven years and paving the way for more interest rate cuts.
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 annual urban consumer price inflation eased to 13.0 per cent in April from 14.2 per cent in March, official statistics agency CAPMAS said on Thursday. “The figures are lower than our expectations,” said Radwa El-Swaify, head of research at Pharos Securities Brokerage.
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.
MAG Development, the real estate arm of the Mag Holding Group, has announced the laying of the foundation stone for the ‘Mag City’ project, located in the city of Mohammed Bin Rashid in the Meydan District 7.
The Khalifa Fund for Enterprise Development (KFED) has announced plans to conduct a foresight study aimed at providing a long-term look at the prospective challenges and opportunities of entrepreneurship
US officials announced a truce in the trade war with China with much fanfare, but economists and trade experts call it largely a victory for Beijing.