Egypt's trade balance deficit rose slightly by 0.7 per cent or $2.73 billion in February 2024, compared to $2.71 billion during the same month a year earlier, Central Agency for Public Mobilisation and Statistics (CAPMAS) revealed on (...)
Gold prices remained largely unchanged in Asian trading on Thursday, hovering well below recent highs, as reported by Investing.com financial platform.
Investors are cautious ahead of key statements from Federal Reserve officials and upcoming (...)
The Central Bank of Egypt (CBE) on Thursday offered a total of 50 billion Egyptian pounds in two treasury bill auctions, according to a CBE statement on its website.
This auction offers investors two options for investing in government debt with (...)
China's crude oil imports rose 5.45 per cent in April compared to the same month a previous year, driven by refiners stocking up for a busy Labour Day holiday travel season, Reuters reported, citing official data released on Thursday.
Crude imports (...)
Asian stocks stabilised on Thursday after positive Chinese trade data bolstered optimism about the world's second-largest economy, as reported by Reuters.
The Japanese yen, meanwhile, found some constancy after recent declines as Japanese officials (...)
Chinese exports grew 1.5 per cent year-on-year in April, meeting analysts expectations after a 7.5 per cent decline in March, Reuters reported, citing official data released on Thursday.
Imports saw a more robust increase of 8.4 per cent, exceeding (...)
Chinese EV leader BYD is planning to expand further in Europe, with European managing director Michael Shu revealing intentions to potentially establish a second assembly plant in the region by 2025.
This announcement coincides with Chinese (...)
Spanish bank BBVA launched a hostile takeover bid for Sabadell, offering €12.23 billion ($13.1 billion) in an all-share deal after Sabadell's board previously rejected the proposal earlier this week, Reuters reported on Thursday.
This direct (...)
The Bank of England's Monetary Policy Committee (MPC), in its latest meeting on Thursday opted to maintain the benchmark interest rate at 5.25 per cent.
While the majority voted to hold rates steady, two members preferred a 0.25 per cent reduction. (...)
Japan's real wages, adjusted for inflation, fell 2.5 per cent in March compared to the same month last year, according to labour ministry data released on Thursday, Reuters reported on Thursday.
This marks the second consecutive year of decline, (...)
China's total trade in goods grew at a solid pace in the first four months of 2024, reaching 5.7 per cent year-on-year in yuan terms, Xinhua reported, citing data from the General Administration of Customs (GAC) published on Thursday.
The total (...)
Egypt's gold prices saw a modest decline on Thursday at 11:55 pm compared to May 8th, with the average price across all carats falling by 0.80 per cent, according to an electronic gold price platform.
Here's a breakdown of the price changes:
Metal (...)
Malaysia's central bank, Bank Negara Malaysia (BNM) has kept its benchmark interest rate unchanged at 3.0 per cent, according to its statement on Thursday.
The decision came as the BNM balances concerns about potential inflation risks with ongoing (...)
The International Monetary Fund (IMF) announced a staff-level agreement to provide Bangladesh with $1.5 million, aimed to support the country's economic and financial stability.
This amount consists of $932 million under the Extended Credit Facility (...)
China's accession to the Digital Economy Partnership Agreement (DEPA) appears closer than ever, Xinhua reported, citing the Ministry of Commerce (MOC) on Thursday.
The MOC reported positive progress following multiple rounds of consultations between (...)
India's top economic advisor, V. Anantha Nageswaran, expressed optimism on Wednesday, stating the government sees no imminent threat of rising inflation and expects the economy to grow above 7 per cent in the current FY, Reuters reported.
Nageswaran (...)
Investment bank Morgan Stanley pushed back its forecast for US Federal Reserve rate cuts to September from their previous July prediction, as reported by Reuters on Wednesday.
The brokerage maintains its expectation of three 25-basis-point rate cuts (...)
Thailand's economic growth forecast dips to 2.2-2.7 per cent this year due to slow export recovery, down from a previous forecast of 2.8-3.3 per cent, Reuters reported on Wednesday, citing a leading business group.
The Joint Standing Committee on (...)
Asian stocks closed with mixed results on Wednesday as investors grappled with conflicting signals from US policymakers and economic data regarding the Federal Reserve's interest rate plans, Reuters reported.
Meanwhile, the dollar strengthened (...)
Gold prices inched higher in Asian trade on Wednesday, but gains were limited as recent comments from Federal Reserve officials dampened hopes for interest rate cuts, as reported by Investing.com financial platform.
While the yellow metal benefitted (...)
German industrial production dipped 0.4 per cent in March compared to February, down from analyst expectations of 0.6 per cent decline, Reuters reported on Wednesday, citing data from the federal statistics office.
Despite being a smaller decline (...)
China's hydropower generation experienced a significant setback in the first quarter of 2024, reaching its lowest share of total electricity output in at least eight years, according to data from think tank Ember, reported by Reuters on (...)
Egypt's local gold prices remained relatively flat during midday trade on Wednesday, hovering around the average prices recorded on the day before May 7th, according to an electronic gold price platform.
Metal May 8th (EGP) May 7th (EGP) Change (...)
Chinese iPhone shipments surged by 12 per cent in March, indicating that Apple's efforts to revive its struggling Chinese market are bearing fruit, Reuters reported on Wednesday, citing official data.
This significant jump follows a concerning 37 (...)
The Bank of Japan (BOJ) governor Kazuo Ueda hinted at a potential shift in monetary policy on Wednesday, suggesting interest rate hikes could be on the table if the weakening yen continues to push up prices, Reuters reported.
Ueda's comments, (...)