Economy

EU approves 200 million Euros loan to Jordan

Jordan has announced that it will receive further Macro-Financial Assistance, MFA, from the European Union, EU, valued at 200 million Euros. Jordan News Agency quoted Imad Fakhoury, Minister of Planning and International Cooperation, as saying that the loan comes as part of commitments made by the EU during the “Supporting Syria and the Region conference” held in London in February ...

Is the government seeking fresh ideas on the economy?

In recent weeks, the National Democratic Alliance government headed by Narendra Modi has revived the Economic Advisory Council (EAC) to the Prime Minister (under economist Bibek Debroy), formed an expert panel on agriculture under federal policy think tank Niti Aayog, and extended the term of chief economic advisor Arvind Subramanian. The appointments come at a time economic growth has slowed ...

The illusion that China’s economy is in good shape

The Chinese economy has started showing signs of losing steam, just as it is incumbent upon the top leadership in Beijing to maintain a positive economic picture as it prepares for next month’s National Congress of the Communist Party. An official explanation goes that adjustments are being made to eliminate bubbles in the real estate sector and to reduce corporate ...

British Pound a Buy Against the Euro say Deutsche Bank Strategists

Pound Sterling which will be seeking a new driver now that a more hawkish Bank of England has been priced into the currency’s value. The Pound-to-Euro exchange rate has been tipped to rise by strategists at Deutsche Bank who say the end of the Sterling down-cycle is getting closer.  The call comes as Sterling embarks on a recovery against the Euro that has seen it rise ...

Egypt: The Economy Is Gathering Strength

“The Egyptian authorities have embarked on an ambitious reform program and have taken decisive measures aimed at restoring macroeconomic stability and sustainable public finances. At the same time, by strengthening social protection measures, they have sought to protect the most vulnerable. We have seen that economic activity has been gathering strength and efforts at reining in the budget deficit have ...

Egypt signs 3 contracts for oil and gas exploration worth $79 million

Minister of Petroleum and Mineral Resources, Tariq Al-Mulla, signed three new agreements for oil and gas exploration in the Western Desert of Egypt with the Egyptian General Petroleum Corporation and the American companies Apache and Merlon, with a minimum investment of about $79 million, a statement from the ministry said on Saturday. The first and second agreements were signed with ...

Egypt businesses battle inflation after currency devaluation

Egyptian entrepreneurs, like Ibrahim Soudan, were forced to scour the black market for dollars a year ago to pay for imports as they battled a crippling foreign currency shortage. But today the country’s banks are flush with greenbacks and the black market for dollars has been wiped out — the result of Cairo’s decision to float the pound eight months ...

Goldman Sachs sees buyer interest in Australia as economy diversifies

Australian companies are increasingly attracting potential acquirers as the economy diversifies and North American buyers are drawn to invest in sectors such as infrastructure, according to Goldman Sachs Group Inc.’s local head. Interest in the Australian market, particularly from the US and Canada, is rising given the level of transparency relative to other parts of Asia Pacific, said Simon Rothery, chief ...

‘We want bread’: subsidy cut sparks protests across Egypt

Some of Egypt’s major cities have been paralysed by rare protests in response to a cut in bread subsidies. The country’s ministry of supply reduced the state-sponsored provision of bread of up to 4,000 to 500 loaves per bakery, according to local news reports. The move is designed to replace an earlier and more controversial proposal to cut the supply ...

Experts Divided on What Trump Policies Mean for the Economy

Despite rising stock prices, some experts remain concerned that economic proposals from the campaign of President Donald Trump will hurt the economy. Last year, some economists predicted large decreases in financial markets, reduced hiring and an increased risk of a recession. However, stock market measures have reached record high levels in the month since Trump took office as the 45th ...

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