Author: Steven Sahiounie

Inflation in Egyptian cities rose to 32.7% in March on an annual basis, from 31.9% in February, according to data from the Central Agency for Public Mobilization and Statistics. With these statistics, inflation is close to its highest levels ever recorded in July 2017, which reached 32.95% at the time, as the data came below the average expectations of analysts. The rise in inflation was driven by a 62.9% year-on-year increase in food and beverage prices in March. Egypt suffers from a rise in the prices of goods and services as a result of the increase in the price of the…

This is a remarkable achievement for the blockchain technology, which has been gaining tremendous traction in recent years. The surge in non-zero addresses indicates that more people are becoming interested in ETH, as they create wallets and invest in the cryptocurrency. Notably, this is a positive sign for the ecosystem, as it reflects the wider adoption of decentralized finance (DeFi) and non-fungible tokens (NFTs) built on top of the Ethereum network. The upcoming Shanghai update, which is scheduled to take place in almost three days, on April 12, is one of the most anticipated events in the cryptocurrency world. The…

They reaffirmed that “stability in the region rests on the healthy relations between its countries rooted in dialogue, respect to the sovereignty and promoting common interests” Presidents Bashar Assad of Syria and Ebrahim Raisi of Iran have condemned Israel’s actions around Jerusalem’s Al-Aqsa mosque, the Syrian president’s office said on Sunday after their telephone conversation. “Assad and Raisi stressed that these attacks reflect Israel’s aggressive policy and are seen as the continuation of its aggression against Syria and civilians, proving its weakness and impotence in the face of the Palestinian people’s resistance and courage,” it said. The presidents reaffirmed that…

Iranian Minister of Cooperation, Labor and Social Welfare, Syed Salt Mortazavi, revealed that the ministry intends to achieve production growth of between 20 and 25 percent this year. Referring to the Ministry of Labor’s plans to achieve the year’s slogan of “curbing inflation, growing production” and creating job opportunities, Mortazavi said, “The Ministry’s program for 2023 is designed to transform various fields, including production.” “This year we intend to increase production first, and it is intended to increase production by between at least 20 and 25 percent at most, so that we can develop appropriate designs to reduce costs and…

Western officials have reportedly expressed shock at the level of detail made public about US spying efforts A recent leak of classified documents on Washington’s war planning in Ukraine has caused turmoil in the Pentagon, forcing officials to step up security, the Washington Post reported on Saturday, citing sources. Several Western officials interviewed by the outlet said they were still trying to assess the damage from dozens of leaked national security papers which grabbed the public’s attention in recent days, with many wondering how the breach had gone unnoticed for so long. While the first media reports on the story…

A German-led exercise involving hundreds of aircraft is scheduled for June and will coincide with a massive US troop deployment NATO is planning to hold its largest ever Air Force exercises this summer, the German Armed Forces announced in a statement. Dubbed ‘Air Defender 23,’ the drills are scheduled to take place between June 12 and June 24 and are expected to involve hundreds of aircraft from dozens of nations. A total of 10,000 soldiers and 220 aircraft are to be involved in the war games, the Bundeswehr said, adding that they are to train “in the European airspace.” The US is to…

Fitch Ratings lowered Morocco’s economic growth forecast for the current year from 3.4% previously to 1.8%, due to the acceleration of inflation, the tightening of monetary policy, and the damage to the agricultural sector. The agency said, in a report, that agricultural production will weigh more on economic growth than was previously expected, as happened in the fourth quarter of last year, when agricultural production contracted by 15.1 percent due to drought, while the non-agricultural sector slowed down to 2.4 percent. . The agency’s figures indicate that the weakness in the non-farm sector was mainly driven by a combination of…

World’s biggest economy will continue to grow, despite heightened recession concerns following recent turmoil in the banking sector, says US Treasury Secretary Janet Yellen. The World Bank’s ongoing reform could result in a $50 billion lending boost over the next decade, Treasury Secretary Janet Yellen has told the AFP news agency ahead of stakeholders’ meetings next week where key changes are expected to be announced. Central bankers, finance ministers and participants from more than 180 member countries are expected to gather in the US capital for the International Monetary Fund and World Bank’s spring meetings in the coming week. A…

Challenging the US-dominated world order, China strives to increase its global influence, with the yuan emerging as the main contender to replace the dollar as world’s reserve currency. The world’s second largest economy with a gross domestic product of $17.7 trillion, second only to the United States with $23.3 trillion, China has been reinforcing the prevalence of its national currency in the international monetary system against US dollar hegemony. According to recent data from the International Monetary Fund, the yuan – or renminbi (RMB) – now ranks as the world’s fifth-largest reserve currency, with 2.69 percent of foreign exchange reserves…

The most well-known cryptocurrencies, Bitcoin and Ethereum, are ending the week on a bearish note, with both coins continuing to lose value. Bitcoin recently fell below $28,000, while Ethereum has fallen to $1,800.  Although Bitcoin reached $28,500 earlier this week, the rally was short-lived, as the price quickly fell. Similarly, Ethereum failed to reach $1,800 on Sunday morning, causing investors to be concerned. However, the reason for the latest decline can be traced back to the news that Binance, a leading crypto exchange, is facing crypto regulations in the US and Dubai. The Virtual Assets Regulatory Authority (VARA) in Dubai has told Binance,…