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Author: Steven Sahiounie
Stocks markets in the Gulf ended higher on Monday, after upbeat China manufacturing data raised optimism about demand in the world’s second largest economy. China’s manufacturing activity expanded at the fastest pace in 13 months in March, with business confidence hitting an 11-month high, a private survey showed on Monday.
Monthly factory activity in China grew for the first time in half a year, official figures showed Sunday, in a positive sign for policymakers seeking to revive the world’s second-largest economy.
The European Commission has been investigating Microsoft’s tying of Office and Teams since a 2020 complaint by Salesforce-owned competing workspace messaging app Slack
Disinflation may require an additional rise in real rates and cutting rates too early could lead to a second wave of inflation
Oil prices stayed near five-month highs on Monday as markets expected tighter supply due to OPEC+ cuts and after attacks on Russian refineries, while Chinese manufacturing data supported a stronger demand outlook.
Gold prices extended their record run on Monday as the latest data showing a slowing U.S. inflation trend boosted expectations that the Federal Reserve could deliver its first interest rate cut in June.
The Organization of the Petroleum Exporting Countries pumped 26.42 million barrels per day (bpd) last month
The non-oil sector’s growth is anticipated to stay robust, buoyed by a stronger-than-expected non-oil GDP performance in 2023
Moreover, the minister noted that EGP 1.6 billion were paid instantly within the initiatives related to the tax liabilities account
This increase came after a drop of about $840 million during the past two quarters of the current fiscal year (FY) 2023/2024 Egypt’s external debt surged by around $3.51 billion in the fourth quarter (Q4) of 2023, hitting $168.034 billion, Asharq Business reported, citing data from the Ministry of Planning and Economic Development. This increase came after a drop of about $840 million during the past two quarters of the current fiscal year (FY) 2023/2024. In Q3 2023, the country’s external debt stood at $164.52 billion. Source: Zawya
