S&P Global Ratings also noted that some UAE banks achieved record profits in 2023 due to strong credit growth in a rising interest rate environment

CAIRO – Egypt’s annual urban consumer price inflation dropped to 29.8% in January from 33.7% in December, the state statistics agency said on Thursday, coming in well below analysts’ expectations.

Charities controlled by members of the Rockefeller family and billionaire donors were behind a successful campaign to pressure US President Joe Biden into suspending new approvals of liquefied natural gas (LNG) exports, the Wall Street Journal reported this week, citing its sources.

Gold prices eased on Thursday as dollar ticked higher, with investors awaiting more cues on the timing of the U.S. Federal Reserve’s first interest rate cut this year, while palladium prices dropped to a fresh five-year low as demand concerns persist.

With traders now resigned to fewer rate cuts this year, they are also focusing on readings showing that US growth remained on track and jobs were still being created, all as inflation came down

Egypt’s annual urban consumer price inflation decreased to 29.8% in January from 33.7% in December, statistics agency CAPMAS said on Thursday. (Writing by Ahmed Elimam; Editing by Alison Williams)