Egypt’s GDP growth for the fiscal year that begins on July 1 could fall to 3.5% if the coronavirus crisis continues until December.
Egypt’s central bank on Thursday cut its key interest rates for the second month in a row, after inflation fell further and as central banks globally ease monetary policy.
Profits in Russia’s banking sector rose to 70 billion roubles ($975 million) in June from just 500 million roubles in May, which included some weeks of lockdown due to the coronavirus pandemic, the central bank said in a report on Friday.
The Russian Central Bank plans to resume its purchases of foreign currency for state reserves that are pegged to oil prices in 2022, after pausing them this year amid the rouble crash, Governor Elvira Nabiullina said.
Most emerging market (EM) currencies made small moves on Monday as surging number of coronavirus cases kept risk appetite muted ahead of a slew of emerging market central bank meetings this week, with focus also on a European recovery fund plan.
With effect from October 8, the deposit or exchange of Rs2,000 notes at bank branches will be stopped. However, Rs2,000 notes will continue to be legal tender even after October 7, but can be exchanged only at RBI offices, the central bank said.
China’s factory activity expanded for the first time in six months in September, an official survey showed on Saturday,
Pakistan’s largest coal miner Sindh Engro Coal Mining Co (SECMC) expects to boost its output by 51.3% in 2024, its Chief Executive told Reuters,