Author: Steven Sahiounie

Gold prices were poised for their biggest weekly jump in five months on Friday, hovering near a historic high, as Federal Reserve Chair Jerome Powell’s remarks cemented mid-year interest rate cut bets, ahead of a U.S. key jobs report later in the day.

MSCI’s broadest index of Asia-Pacific shares outside Japan peaked at 538.47 points in early Asia trade, its strongest level since August

LONDON – The dollar index was set for its sharpest weekly drop since mid-December on Friday ahead of U.S. payrolls data, as Federal Reserve Chair Jerome Powell sounded more confident about cutting interest rates in coming months.

LONDON – The United Nations food agency’s world price index fell in February for a seventh consecutive month as lower prices for all major cereals more than offset the rising price of sugar and meat.

The IIF has set an average estimate of 33.5 for the EGP against the USD in the current year The Institute of International Finance (IIF) expects the Egyptian pound to trade at 42.5 against the US dollar in the coming fiscal year (FY) 2024/2025, Asharq Business reported, citing a report the IIF. The IIF has set an average estimate of 33.5 for the EGP against the USD in the current year. Moreover, the report expects Egypt’s total foreign debt to drop from its peak of $165 billion in FY 2022/2023 to $157 billion in the current FY, to reach 45%…

Turkish President Recep Tayyip Erdogan on Friday criticized countries that have not taken action against Israel’s “genocidal policies” in Gaza. “Have you seen those, who constantly lecture the rest of humanity on rights and law, taking actions against Israel’s genocidal policies?” Erdogan said in an event marking International Women’s Day in the metropolis Istanbul. Taking aim at those who dare to teach humanity about human rights, Erdogan said they “never bring up the harassment, violence, discrimination and unfair practices against women in their own neighborhoods.” Israel has waged a deadly offensive on the Gaza Strip following a cross-border incursion by…

Hiring in the United States stayed robust in February while unemployment crept up, government data showed Friday, a potentially encouraging sign for policymakers hoping to cool the economy without tipping it into a downturn.

IAEA Director General Rafael Grossi has called for maximum military restraint around the Zaporozhye Nuclear Power Plant (ZNPP) at his meeting with Russian President Vladimir Putin, the IAEA said in a press release. “He [Grossi] also reiterated his call for maximum military restraint and strict observance of the five concrete principles established at the United Nations Security Council,” the press release said. During the talks in Sochi, Grossi emphasized that the nuclear safety and security situation at the nuclear facility remains precarious. Grossi also reported, that the IAEA will continue to “monitor closely” the staffing situation at the ZNPP. “The staffing…

The European common currency is gaining popularity among central bank reserve managers around the world

Global ratings giant Moody’s has raise Egypt’s credit outlook from negative to positive following the expanded $8 billion funding from the International Monetary Fund (IMF), as per a recent statement.