Browsing: Business
– On Thursday, Egypt’s Central Bank of Egypt decided to keep its benchmark interest rates unchanged, maintaining borrowing costs at the levels established in February. The Monetary Policy Committee maintained the overnight deposit rate at 19.00% and the overnight lending
– The Asian Development Bank’s latest outlook forecasts a slowdown in economic expansion across developing Asia and the Pacific to 5.0% in 2026. This marks a slight decrease from the 5.5% growth recorded in 2025. The bank’s new estimate for
– From January through July 2026, Egyptians working abroad sent home approximately $29.7 billion in remittances. The Central Bank of Egypt indicated this amount marked a 28.1% increase compared to around $23.2 billion during the same period last year. The
– China has kept its benchmark lending rates steady in September, marking the continuation of a period with unchanged borrowing costs. The one-year loan prime rate remains at 3.0%, and the over-five-year rate stays at 3.5%. Banks often base mortgage
South Korea will continue its policy of reducing fuel taxes until late November 2026, prolonging 15 percent discounts on gasoline and 25 percent cuts on diesel and butane in order to protect the country’s economy from fluctuations in international oil
India issued a warning to Washington regarding proposed tariffs on nations importing Russian crude oil, emphasizing the potential for damage to bilateral relations and disruptions in global commodity trading. This came in the wake of the United States House of
The downward movement in gold prices persisted in international commodity markets as investors responded to the U.S. Federal Reserve’s decision to increase benchmark interest rates by a quarter of a percentage point. Spot bullion dropped 1 percent during global trading
– During a meeting held in New Delhi on September 12, the Crown Prince of Abu Dhabi, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, engaged with Indian Prime Minister Narendra Modi to explore avenues for bolstering the relationship between
– In August 2026, Oman’s inflation rate climbed to 3.4%, marking a continued increase in consumer prices. Previously, inflation was 3.2% in July and 2.8% in June. The average inflation rate for the period from January to August reached 2.9%.
During his official state visit to Germany, President His Highness Sheikh Mohamed bin Zayed Al Nahyan held meetings with prominent German business leaders and corporate executives in Berlin. These discussions took place at a high-level roundtable, where the UAE President