economy

Abu Dhabi outshines Middle East markets in 2021
Middle East

Abu Dhabi outshines Middle East markets in 2021

Dec 30 (Reuters) – Stock markets in the Gulf ended 2021 higher, with the Abu Dhabi index exiting the year…
Turkey’s lira logs worst year in two decades under Erdogan
Middle East

Turkey’s lira logs worst year in two decades under Erdogan

ANKARA, Dec 31 (Reuters) – Turkey’s lira has logged its worst year since President Tayyip Erdogan came to power nearly…
Foreign direct investment in Egypt records $23.5 bln, compared to $18 bln in 2016: economist
Business

Foreign direct investment in Egypt records $23.5 bln, compared to $18 bln in 2016: economist

The flow of foreign direct investment to Egypt represented $23.5 billion in 2021, a 9.3 percent increase from 2016 when…
Egypt to apply $152.4 minimum wage rate for 20 million workers in private sector starting 2022
Egypt

Egypt to apply $152.4 minimum wage rate for 20 million workers in private sector starting 2022

Egypt will apply the minimum wage for workers in private sector companies starting 2022, at a value of LE2,400 (US$152.4)…
Central Bank of Egypt issues treasury bonds worth LE 14.5 billion on Monday
Business

Central Bank of Egypt issues treasury bonds worth LE 14.5 billion on Monday

The Central Bank of Egypt on Monday issued treasury bonds worth LE14.5 billion, in coordination with Finance Ministry, to finance…
Investors flee U.S. corporate junk debt on inflation, Omicron concerns
World

Investors flee U.S. corporate junk debt on inflation, Omicron concerns

CHICAGO, Dec 2 (Reuters) – Worries over surging inflation and a new variant of the coronavirus are roiling the U.S.…
Turkey economy grew 7.4% in Q3; lira clouds outlook
Middle East

Turkey economy grew 7.4% in Q3; lira clouds outlook

ISTANBUL, Nov 30 (Reuters) – Turkey’s economy grew 7.4% year-on-year in the third quarter, meeting expectations on the strength of…
Food, gas prices pinch families as inflation surges globally
World

Food, gas prices pinch families as inflation surges globally

BUDAPEST, Hungary (AP) — From appliance stores in the United States to food markets in Hungary and gas stations in…
Egypt’s economy is expected to grow by 5.6% in 2022
Business

Egypt’s economy is expected to grow by 5.6% in 2022

Egypt’s economy is expected to grow by 5.6 percent in the fiscal year 2021-2022, Minister of Planning Hala Al-Saeed said…
Turkish opposition calls for early election amid lira meltdown
Middle East

Turkish opposition calls for early election amid lira meltdown

ANKARA, Nov 18 (Reuters) – Turkish opposition leaders called for immediate early elections on Thursday after the lira plunged 6%…
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