Author: Steven Sahiounie

The Presidency’s spokesperson highlighted that these concerted efforts have positively influenced the international credit rating agencies’ outlook on Egypt’s economic future

AMMAN — Prime Minister Bisher Khasawneh on Tuesday ordered the implementation of the 2024 state budget law.

US-based African venture capital (VC) firm P1 Ventures has completed the second close of $35 million for its Fund II.

Most stock markets in the Gulf closed higher on Thursday, led by the Saudi index, joining a global rally as investors cheered the U.S. Federal Reserve’s indication that it will still deliver three rate cuts this year. The Fed kept borrowing costs unchanged on Wednesday and signaled they still expect to ease interest rates by three-quarters of a percentage point by the end of 2024.

WASHINGTON: IMF Managing Director Kristalina Georgieva warned on Thursday that central banks face growing political pressure to cut interest rates during a major election year but policymakers need to maintain their independence.

LONDON: A surprise bumper rate hike by Turkiye’s central bank on Thursday boosted the country’s international sovereign bonds, lifted the lira off its recent lows and bolstered banking stocks, accordig to Reuters.

As the Fed maintained its long-run inflation projection at its 2% target, this implies a slight increase in what policymakers deem to be the neutral real rate of interest, or ‘R-star’, to 0.6% from 0.5%

The Kingdom was awarded 248 points by the international body for the first three months of the year, maintaining the levels that started in the same period of 2023.

The deficit is now expected to be in excess of five percent of gross domestic product (GDP), Thomas Cazenave, minister for public accounts, told broadcaster Franceinfo

Sterling fell after the Bank of England (BoE) on Thursday kept its benchmark interest rate on hold as expected, while the Swiss franc fell to a multi-month low after the Swiss National Bank (SNB) surprised markets by cutting interest rates.