CAIRO (Reuters) – Foreign investors transferred more than $925 million dollars into the Egyptian foreign exchange market in the three days since its currency sharply depreciated last week, Egypt’s central bank said in a statement on Monday. The Egyptian pound weakened to about 32 to the dollar from 27.60 at the open on Wednesday before …
Foreign investors pour $925 million into Egypt since Wednesday Read More »
By Siddharth K DAVOS, Switzerland (Reuters) – The World Economic Forum (WEF) returns to its snowy winter residency in the Swiss Alps this week with a record attendance of business and government leaders. Here’s the low-down on Davos. WHAT HAPPENS AT THE WEF? The WEF’s roots stretch back to 1971 when its founder Klaus Schwab …
By Sarah El Safty CAIRO (Reuters) -Egypt’s government will start selling discounted bread to people not enrolled in its bread subsidy programme as it battles accelerating inflation, the supply minister said on Monday. People will be able to buy 90g loaves at cost price using pre-paid cards, Ali Moselhy said, adding the price was yet …
Egypt to sell discounted bread to fight inflation Read More »
By Kantaro Komiya TOKYO (Reuters) – Bank of Japan (BOJ) Deputy Governor Masayoshi Amamiya, a close aide of incumbent chief Haruhiko Kuroda, is most likely to succeed him this spring, according to two-thirds of economists in a Reuters poll. Investors have closely followed the race for the position of next BOJ governor, looking for clues …
Economists say BOJ’s Amamiya is top governor candidate, tightening this week unlikely Read More »
By Darya Korsunskaya MOSCOW (Reuters) -Russia is becoming too dependent on oil revenues to support its budget as it ramps up military spending, economists said, warning that the government may have to raise taxes if prices of crude fail to meet expectations this year. The price of Urals oil – Russia’s main export – has …
Russia may hike taxes as military spending, oil price weigh on budget Read More »
By Yousef Saba DUBAI (Reuters) – Residential property prices in Dubai are expected to rise at a slower pace in 2023 after a record year that saw a more than 60% increase in total units sold, according to one of the city’s biggest real estate consultancies. Prices are seen rising by about 5% this year, …
Dubai property price rises seen slowing further in 2023 – Betterhomes Read More »
By Steven Scheer JERUSALEM (Reuters) – Israel’s Manufacturers’ Association on Sunday proposed tax cuts on food along with a host of other measures aimed at strengthening Israeli economic competitiveness and dealing with the country’s high cost of living. The Association’s economic plan, submitted to Israel’s prime minister and ministers of finance and economy, proposed cutting …
Key Israel business group seeks steep cut in food tax Read More »
By Kanishka Singh and David Lawder WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen said on Friday the United States will likely hit the $31.4 trillion statutory debt limit on Jan. 19, forcing the Treasury to launch extraordinary cash management measures that can likely prevent default until early June. “Once the limit is reached, Treasury will …
Yellen warns of U.S. default risk by early June, urges debt limit hike Read More »
LIMA (Reuters) – Peru’s economy likely grew slightly less than 2.9% last year, a senior central bank official said on Friday, suggesting that the South American country’s economy expanded less than previously forecast, due in part to an explosion of social unrest that began in December. Adrian Armas, head of the bank’s economic studies unit, …
Peru 2022 growth likely hindered by protests, says central bank official Read More »
(Reuters) – A record number of business and government leaders will descend on the Swiss resort of Davos next week to pore over challenges ranging from global economic slowdown to environmental collapse as the World Economic Forum returns to its winter slot. Criticised by some as a talking shop for the jetset that merely adds …
Davos expects record turnout as resumes winter slot Read More »
