Egypt's annual headline inflation recorded 223.6 points, declining to 31.8 per cent in April down from 33.1 in March, according to the latest Central Agency for Public Mobilisation and Statistics (CAPMAS) report released on Thursday.
The monthly (...)
The International Monetary Fund (IMF) and the Democratic Republic of Congo (DRC) have reached a staff-level agreement amid the conclusion of the sixth and final review of the country's Extended Credit Facility (ECF), the IMF said on (...)
Turkey's central bank has discontinued another measure aimed at supporting the lira, a move that has faced criticism from bankers and investors in recent years, Bloomberg reported.
The bank announced the elimination of a regulation that compelled (...)
Saudi Arabia boasts over ten companies eagerly awaiting to embark on initial public offerings (IPO) on its stock exchange, with over 50 firms vying for listings, signalling a sustained surge in IPO activity within the kingdom, Mohammed Al-Rumaih, (...)
Egypt's stock market (EGX) closed all in green on Thursday. The main index, EGX30 jumped by 0.05 per cent, to 26,003.16 points.
The small to mid-size enterprises' index, EGX70 surged by 0.13 per cent, to 5,758.37 points.
The index, EGX100 index (...)
The United States has surpassed China to become Germany's primary trading partner in the initial quarter of the year, as per Reuters' analysis of official data from the German statistics office.
Trade between Germany and the US, encompassing both (...)
Turkey's central bank raised its year-end inflation forecast to 38 per cent up from 36 per cent, signalling readiness for further monetary tightening as inflation approaches a peak of 75 per cent, Bloomberg reported on Thursday.
Governor Fatih (...)
Egypt's non-oil private sector experienced shrinkage, with April's S&P Global Egypt Purchasing Managers' Index registered at 47.4, marking 41 months in contraction.
Business activity and new orders declined in the country, while export orders (...)
Lebanon's private sector faced its steepest decline this year, with the BLOM Lebanon PMI survey reporting a rapid deterioration in April to a four-month low of 48.9.
The report indicates that escalating geopolitical tensions led to weakened demand, (...)
Ukraine's energy company DTEK's trading arm is gearing up to enhance its workforce and venture into the liquefied natural gas (LNG) sector to strengthen its ties with Europe, Bloomberg reported on Wednesday.
D. Trading, aspires to recruit up to 12 (...)
German utility company EnBW announced the signing of a 15-year liquefied natural gas (LNG) contract with Abu Dhabi National Oil Company (ADNOC), Reuters reported on Wednesday.
This agreement comes as Europe increases its LNG imports following (...)
Microsoft Corporation has closed down the engineering division of its Africa Development Centre in Nigeria, just two years after its establishment in the West African nation, Bloomberg reported.
The centre, located in Lagos, was one of two such (...)
Nigerian firms are addressing overdue dollar commitments following central bank reforms that bolstered liquidity in the nation's foreign exchange market, Bloomberg reported on Wednesday.
Major entities like MTN Nigeria Communications Plc, BUA Foods (...)
Zambia's kwacha plunged to a historic low against the US dollar on Wednesday, hitting 27.30, amid severe hard currency shortages exacerbated by a punishing drought that has triggered power cuts in the country, Reuters reported.
According to LSEG (...)
Shell has agreed to sell its refinery and petrochemical assets in Singapore to a joint venture of Chandra Asri Capital and Glencore Asian Holdings, Reuters reported on Wednesday.
The deal involves transferring Shell's interest in Shell Energy and (...)
Oil dropped to nearly their lowest level since mid-March, as attention turned to a somewhat bearish report on US oil inventories and tensions in the Middle East, Bloomberg reported on Wednesday.
Brent slid below $83 per barrel, hitting its lowest (...)
Egypt's stock market (EGX) closed red on Wednesday. The main index, EGX30 sunk by 1.67 per cent, to 25,988.93 points.
The small to mid-size enterprises' index, EGX70 dropped by 1.86 per cent, to 5,750.71 points.
The index, EGX100 index went down by (...)
Mastercard Inc. is teaming up with some of the largest US banks to explore shared-ledger technology, enabling the collective settlement of tokenised assets such as commercial-bank funds, Treasury securities, and investment-grade debt, Bloomberg (...)
Anfavea, the association representing automakers in Brazil, announced that new vehicle sales increased by 17.6 per cent in April compared to the previous month, totalling 220,842 units, according to Reuters citing the company's report.
Additionally, (...)
Baker Hughes, an energy technology company, is set to establish a new liquid mud plant and a separate assembly, maintenance, and repair facility at Walvis Bay in Namibia, according to Reuters. The move aims to meet the growing demands of offshore (...)
Maersk, the shipping giant, has boosted its projected annual profits following a robust in quarterly performance that surpassed expectations, Reuters reported on Thursday.
The company attributes the robust to buoyant demand for container shipping (...)
The Organisation for Economic Co-operation and Development (OECD) has maintained its growth projections for Indonesia's economy in its economic outlook released on Thursday.
The Paris-based organisation expects Indonesia to grow by 5.1 per cent in (...)
Venezuelan oil exports experienced a significant drop of 38 per cent in April, as tanker owners and clients withdrew several vessels awaiting loading from the country's waters in anticipation of the reimplementation of US sanctions, according to (...)
ExxonMobil's sale of Nigerian petroleum assets to Seplat, a Nigerian company, may receive approval within two weeks, according to the country's oil regulator speaking to Reuters on Thursday.
The $1.28 billion transaction, awaiting regulatory (...)
Oil partially recovered from its recent drop after a sharp decline on Wednesday driven by a significant increase in US crude inventories, raising concerns about weakening demand, Bloomberg reported.
In July, Brent traded below $84 per barrel (...)