Latest in Tag: Economy Highlight
Latest in Tag: Economy
German Ambassador supports Egypt in its quest for stability
Germany’s new ambassador to Egypt, Julius Georg Luy, assumed his position last month as a successor to Hansjörg Habar
Contracts for Saudi investments worth EGP 360bn to be signed soon
Saudi Arabia remains strong supporter of Egyptian economy
Oriental Weavers denies reconciliation with ECA
The company expressed confidence in its legal position
New industry minister outlines plan
Plan includes the completion of the Golden Triangle, the furniture city in Damietta and the industrial leather project in Alrubiki
Cabinet to seek upcoming parliament’s approval
Government committed to reducing the deficit, debt and raising growth rates
CBE fixes its basic return rates
“The MPC decision was highly expected in light of CBE’s keenness to activate investment, move the economy and not to increase the burdens of local debt,” said Haitham Abdel Fattah
US retail sales up, manufacturing down
Ahead of the Federal Reserve meeting on Thursday, the US economy is sending mixed signals. But despite the disappointing factory output data, analysts believe the news isn’t all that bad. Americans stepped up their spending on cars, restaurant meals, groceries and clothing in August, suggesting strong domestic demand that could persuade a cautious Federal Reserve …
Egypt needs giant projects to move economy, push growth rates: Bankers
We need projects that achieve Egyptians’ dream of a better life, says Abdel Aal
Annual inflation slumps to 7.9% in August
Meanwhile, the Consumer Price Index (CPI) increased by 0.6% compared to July, which was attributed by CAPMAS to an increase in prices of vegetables, hotels, repairing of houses, home appliances, fruits and entertainment services
China seeks to reassure financial markets
China’s Premier is trying to soothe international concerns over market volatility and slowing growth in the world’s second-largest economy. Beijing had recently devalued the yuan and lowered its 2014 growth reading. China has fended off potential risks to its financial system while keeping its economic prospects positive, Premier Li Keqiang said on Wednesday, as he …
Opinion: One fried stock, please!
While Chinese investors can’t seem to satiate their hunger for domestic shares, the Germans are avoiding them like the plague. But there are plenty of exceptions, according to our columnist Zhang Danhong. When Klaus was first handed the certificate that made him an official VW shareholder, he was only 8 years old. His parents wanted …
China turmoil, Fed hikes weigh on G20 meeting
Recent market volatility in China will top the agenda as bank chiefs and finance ministers convene in Ankara, Turkey, to discuss how to soothe the global economy. They may also discuss the prospect of a Fed rate hike. Investors around the world have been on tenterhooks ever since a recent plunge in Chinese stocks trigged …
Canada officially falls into recession
Government data has confirmed that Canada officially fell into recession in the first half of this year. Prime Minister Stephen Harper is doing his best to avoid using the term ahead of a general election next month
Tapping refugees to combat Germany’s labour shortage
The thousands of refugees pouring into Germany every day could offer Europe’s largest economy an opportune solution to plug the ‘gray gap’ in its aging workforce. But integrating the new arrivals could be costly
IMF: ‘Bumpy’ road ahead for emerging economies
The world’s lender of last resort, the International Monetary Fund (IMF), has said up-and-coming nations must do more to weather the fallout of weaker global growth and a slowdown in China’s economy. The IMF’s managing director, Christine Lagarde, on Tuesday warned the emerging countries of the world that the road ahead could be “somewhat bumpy,” …
OCI reports 51% backlog growth to $7.2bn
Orascom Construction Industries (OCI) reported a 51% backlog growth to $7.2bn, and its earnings before interest, taxes, depreciation, and amortisation (EBITDA) amounted to $64m in quarter two (Q2) of 2015
France’s Macron for ‘EU, eurozone rebirth’
French Economy Minister Emmanuel Macron has said the EU and the eurozone have no future without a currency union coupled with a fiscal equalization system. He also called for a strong euro commissioner in Brussels. In an interview for Germany’s daily “SĂĽddeutsche Zeitung,” French Economy Minister Emmanuel Macron spoke out in favor of a complete …
IMF changing tack on Greece
Latin Americans and Asians are happy that they do not need the help of the International Monetary Fund (IMF). But, Europe can no longer function without it. What’s behind the IMF’s interest in Greece?
ADB Chief Economist: Claims of China’s growth collapse ‘greatly exaggerated’
The recent stock market plunge has exacerbated worries about the Chinese economy. Nonetheless, ADB Chief Economist Shang-Jin Wei tells DW China is still on track to reach a growth rate not far from the 7 percent target. Cheered by a rally in US stocks and a domestic interest rate cut, Chinese stocks rebounded from five …
More Germans at risk of falling into poverty
Germany’s public coffers are full but for poorly educated workers, the danger of slipping into poverty is greater now than it was 10 years ago, new data from the country’s Federal Statistical Office has revealed. The importance of having an education or vocational training in Europe’s largest economy has increased over the last decade, according …
Al-Sisi’s Singapore visit is historic: Singapore’s Ambassador in Cairo
Presidential visit will discuss bilateral maritime, education and water resource cooperation
China slashes interest rates to back economy
China’s central bank has once again cut interest rates and lowered the amount of cash banks must have on hand to ease pressure on lenders amid fears that the world’s second-largest economy could be slowing. The People’s Bank of China (PBoC) cut its benchmark lending and deposit rates by 0.25 percentage points on Tuesday, the …
German business confidence rises unexpectedly
A closely watched survey has revealed renewed confidence in the German economy despite market turbulence in China and concerns over the Greek debt crisis. Managers’ assessments of business were surprisingly upbeat. Business sentiment in Germany remained unexpectedly robust in August, the Munich-based Ifo think tank said Tuesday. The institute recorded an uptick of 0.3 points …
How the sharing economy changes workers’ lives
The digital world is changing our homes, our society and how we work. DW spoke to digital goods expert Arun Sundararajan from the NYU Stern School of Business about the sharing economy. DW: We live in a digital world and we share basically everything online: Cars, bikes, kitchens or apartments. If we look at the …
Workers demands social, not political: ECESR
Representatives from syndicates and rights lawyers discussed objections to Civil Service Law
Bangkok bomb ‘intended to destroy economy’
Officials said it was unclear whether the bombing was politically motivated
Greek bailout causes EU, IMF rift
Athens’ lenders are at loggerheads over whether or not to grant the debt-ridden nation a haircut. But is there more to the transatlantic tiff than a tempest in a tea pot? DW’s Zhang Danhong dissects their differences. It’s time to cut Athens some slack. That was the message the International Monetary Fund (IMF) sent to …
Investing in Suez Canal zone facilitated by law-sponsored advantages
In the Suez Canal zone, investors will be subject to 5% income tax, versus 10% – 20% outside the SEZONE
Egypt seeks to boost economy through expansion of Suez Canal
The expansion of one of the world’s most strategic waterways was inaugurated Thursday by Egyptian President al-Sisi. The opening comes two years after former army chief overthrew the Islamist-led elected government. The massive undertaking is the first major project opened since President al-Sisi came to power. French President Francois Hollande attended the opening which comes …
Reflections of history on the Suez Canal
“The tour boat passes a mosaic depicting the glorious triumph of the Egyptian people in re-capturing Sinai… The soldiers look upwards and onwards, towards progress and towards the future”