#inflation

Egypt’s headline inflation jumps to 26.4% in September

Egypt’s headline inflation inches up to 26.4% in September

The country’s core inflation slowed to an annual 25 per cent from 25.1 per cent in August

Türkiye firms face wave of closures amid economic reckoning

Türkiye firms face wave of closures amid economic reckoning

Almost 15,000 companies closed down in the first seven months of the year, up 28 per cent from 2023

Egypt’s central bank leaves overnight interest rates steady

Egypt’s central bank leaves overnight interest rates steady

The central bank said that the lending rate remained at 28.25 per cent, while the deposit rate stood at 27.25 per cent

Central Bank of Egypt expands lending to government

Egypt central bank expands lending to government, but inflation slows

Economists say central bank lending risks undermining the economy by expanding the money supply and fuelling inflation

US-ECONOMY-INFLATION-DATA

Dubai inflation numbers down in July: Is a rate cut on the horizon?

Dubai’s CPI moved down marginally to 111.56 points in July from 111.65 points in June, according to Dubai government data

Türkiye cenbank head maintains inflation forecasts

Türkiye cenbank inflation forecasts unchanged, vows tight policy

The bank has raised its policy rate by 4,150 basis points since June last year but has kept it unchanged at 50 per cent since March

IMF approves release of $820m for Egypt

IMF approves release of $820m for Egypt, calls for more reforms

The government raised domestic fuel prices by up to 15 per cent ahead of the IMF review, which had been postponed from July 10

Turkey’s deputy governor says no rate cuts for now

Turkey not considering rate cuts now, says deputy cenbank governor

Since June last year, the central bank has hiked rates to 50 per cent and it pledged to remain vigilant to inflation risks

Moody’s upgrades Turkey’s ratings to B1 on tight monetary policy

Moody’s upgrades Turkey’s ratings to B1 on tight monetary policy

Turkey’s central bank has raised its main rate to 50 per cent from 8.5 per cent since Finance Minister Mehmet Simsek was appointed last year

Egypt’s central bank holds key interest rates steady

Egypt’s central bank leaves key interest rates unchanged

The central bank raised interest rates by 600 bps on March 6 as part of an agreement with the International Monetary Fund

retirement

5 strategic steps to help you achieve an early and a secure retirement

Regular saving, prudent spending, and smart investing not only boost your retirement fund but also enhance your overall financial health

CBUAE adjusts inflation forecast for 2024, outlook remains positive

UAE central bank adjusts inflation forecast for 2024

In April, food and beverage inflation declined to 2.3 per cent, down from an average of 3.3 per cent seen in the first quarter

Oil August 1

Oil prices up after US economic data strengthens rate cut expectations

Equities, which tend to move in tandem with oil prices, rose on the rate cut hopes, with the Dow reaching an all-time high of 40,000 for the first time

CBUAE, HKMA partnership

UAE interest rates remain unchanged amid Fed rate decision

The CBUAE traditionally moves lockstep with the US Fed amid the UAE having pegged its currency to the US dollar at a rate of Dhs3.67 to $1

Saudi Arabia posts 2023 budget deficit of $22bn - capex

Inflation in Saudi Arabia cools despite housing rental rises

The Consumer Price Index (CPI) in Saudi Arabia recorded a slight decrease of 0.1 per cent compared to February 2024

Gold

Gold regains its allure with record high prices on safe-haven demand

Gold logged its best month since July 2020, at a 9 per cent increase, and a second straight quarterly rise

interest rate - US Fed

US Fed maintains interest rates, says more ‘confidence’ needed on inflation before rate cuts

Inflation has now been running below the Fed’s target on a seven-month basis while US economic growth and the job market have remained largely intact

Saudi inflation eases further in December to 1.5%

Saudi inflation continues to ease in December to 1.5%

The statistics authority said rental prices increased by 9 per cent in December 2023

saving - loud budgeting

Beating back Januworry: 9 ways to start saving money now

Here is a practical and step by step saving strategy designed to empower individuals on their journey to financial success

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How deep are Egypt’s economic troubles?

An over-valued currency, weak property rights and institutions, and an overbearing state and military have deterred investment and competition

stock markets

Global markets: Five countries to watch this week

From the upcoming climate conference in UAE, to inflation numbers in the US, and China’s GDP targets, a look at what the markets are tracking

Turkish central bank raises inflation forecasts

Turkish central bank raises inflation forecasts, sees 70%-75% peak

Inflation hit a 24-year peak of 85 per cent last year and surged again in recent months as the lira weakened for a third year in a row

Most GCC central banks hold interest rates unchanged

UAE, Qatar central banks hold interest rates, tracking US Fed move

GCC central banks normally change their interest rates in lockstep with the US Fed as Gulf states’ currencies are pegged to the dollar

Türkiye may exclude banks from inflation-adjusted accounting

Türkiye may exclude banks from inflation-adjusted accounting, says minister

Türkish companies’ end-2023 balance sheets will be inflation-adjusted, with the practice expected to continue until 2026

Saudi Arabia - Riyadh Image Getty Images

Saudi Arabia: Inflation eases further in Sept to 1.7%, marks drop from Aug

The main driver of CPI inflation in September was higher prices of housing, water, electricity, gas and other fuels, and restaurant and hotel prices

Egypt inflation

Egypt’s inflation at historic high in September, breaks 2017 record

It was the fourth consecutive month of record highs recorded on the central bank website

US Fed

US Fed chair Jerome Powell hints at further interest rate hikes

The key takeaway from Powell’s speech is monetary policy will stay “restrictive” until inflation is moving firmly toward 2 per cent

arab monetary fund extends loan to Egypt

Egypt gets $616m loan from Arab Monetary Fund

The agreement is aimed at bettering the payment-systems infrastructure, financial inclusion and regulatory framework in Egypt

UAE, Qatar central banks maintain key interest rates

UAE, Qatar central banks keep interest rates steady, tracking US Fed move

The move by the Fed to leave its benchmark rate unchanged suggests that higher borrowing costs have made some progress in slowing inflation

Cost of living drives up expenses for expats

Has cost of living gone up for expats in Dubai, Abu Dhabi?

A recent report on world’s most expensive cities for international employees shows the emirate go up the ranks as the cost of living has gone up