Author: Steven Sahiounie

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.

Abdullah Sultan Al Owais, Chairman of the Sharjah Chamber of Commerce and Industry (SCCI), and Alexi Fonseka Gunasekera, Consul-General-designate of the Democratic Socialist Republic of Sri Lanka to Dubai and the Northern Emirates, have discussed strengthening economic cooperation and fostering investment partnerships between business communities of the two nations.

The WTO said its goods trade barometer stood at 100.6 points, close to the baseline of 100 and barely changed from the level reported in November

The pound hovered just under 49.5 to the dollar, similar to the price near closing on Wednesday, LSEG data showed

Between Monday and Wednesday, Modi visited the southern states of Telangana and Tamil Nadu and the eastern states of Odisha, West Bengal and Bihar