Egypt's non-oil private sector activity slows down to 47.4

Thu, 09 May 2024 - 11:14 GMT

The increased availability of foreign currency, coupled with hopes of exchange rate stability, lower prices, and improved material availability, boosted confidence among non-oil firms regarding the year-ahead outlook for activity

Egypt aims to regain highest credit rating, boost confidence in economy: Finance Minister

Tue, 19 Mar 2024 - 07:34 GMT

He added that the government’s aim is to restore confidence in the Egyptian economy by explaining the dimensions of the new economic trajectory of the Egyptian state, which is a catalyst for promising horizons.

S&P upgrades Egypt's outlook to positive amidst record investments, economic reforms

Mon, 18 Mar 2024 - 11:19 GMT

These changes in the global agency's view of the Egyptian economy come after Cairo secured a $35 billion investment from the United Arab Emirates (UAE), adding to a string of international commitments and financing exceeding $50 billion.

S&P predicts LE to adjust closer to black market rates, believes IMF to release tranches post-adjustment

Mon, 29 Jan 2024 - 12:29 GMT

“We think more clarity on exchange rate policy would benefit trade and economic growth and trigger an increase in remittance inflows,” S&P wrote in its report

S&P gives slight bump to Egypt’s PMI for final month of 2023 to 48.5

Thu, 04 Jan 2024 - 12:14 GMT

According to S&P, the latest data displays a modest deterioration that was softer than the average seen over the past year (47.9). Egypt received its highest index rating of 49.2 in July, breaking its previous record from August 2021

Evaluating Egypt’s economic growth potential through the eyes of International Institutions

Sun, 31 Dec 2023 - 07:11 GMT

From Fitch Solutions’ most optimistic view of Egypt’s growth to the lowered expectations of the IIF, a diverse range of forecasts paints a complex picture of the country’s potential growth in the coming year as the country faces numerous external geopolitical and economic shocks.

S&P Global expects GDP growth to record 4% in FY2023/2024

Sun, 22 Oct 2023 - 02:19 GMT

S&P highlighted the government’s decision to stop projects with significant FX costs or are at a completion rate of 50 percent or less, noting that it expected this to reduce related imports and support the country’s external position

S&P upgrades Egyptian economy’s outlook to stable, lowers long-term credit rating

Sun, 22 Oct 2023 - 10:38 GMT

"Changing the outlook from negative to stable reflects structural reforms that the Egyptian government undertook recently which contributed to achieving financial discipline,” explained Minister of Finance Mohamed Maait

Egypt maintains PMI recorded at 49.2 in August, shows signs of recovering market

Tue, 05 Sep 2023 - 12:26 GMT

In August, output declined modestly, driven by price pressures that constrained capacity

S&P downgrades outlook for three Egyptian banks to negative

Tue, 02 May 2023 - 12:39 GMT

Since March 2022, the three banks released multiple types of high-yield CDs, ranging from annual yields of 18 percent to 25 percent

S&P affirms Egypt's credit rating at B/B with stable outlook

Mon, 25 Apr 2022 - 11:46 GMT

Standard & Poor's (S&P) kept Saturday Egypt's long and short-term foreign and local currency sovereign credit ratings at B/B with a stable outlook.

Moderna to join S&P 500, shares jump after hours

Thu, 15 Jul 2021 - 11:19 GMT

Moderna Inc will join the S&P 500 index as of the start of trading on July 21, replacing Alexion Pharmaceuticals, S&P Dow Jones Indices said in a statement on Thursday.

Asian shares advance as Chinese stocks extend recovery

Wed, 26 Sep 2018 - 08:22 GMT

Spreadbetters expected European stocks to open flat to firmer, with Britain’s FTSE starting little changed, Germany’s DAX adding 0.2 percent and France’s CAC up 0.05 percent.

Asian shares edge up, but political, economic woes hurt sentiment

Wed, 22 Aug 2018 - 07:54 GMT

Investors in the region took some comfort from hopes that the trade talks between the U.S. and China expected this week will ease trade tensions.

S&P lowers Turkey’s sovereign rating to B+ from BB-; maintains outlook at stable

Fri, 17 Aug 2018 - 09:11 GMT

S&P Global Ratings has recently announced that it lowered Turkey's sovereign rating to B+ from BB- while maintaining the outlook at stable.

Wall Street rises on economic data, easing trade worries

Thu, 07 Jun 2018 - 09:48 GMT

President Donald Trump will meet French President Emmanuel Macron and Canadian Prime Minister Justin Trudeau during a G7 summit this week.

U.S. allies hit back at Washington's steel, aluminum tariffs

Fri, 01 Jun 2018 - 12:20 GMT

Canada and Mexico retaliated against the United State's decision on Thursday to impose tariffs on steel and aluminum imports.

Asian shares pressured as Trump tempers Sino-U.S. trade optimism

Wed, 23 May 2018 - 08:26 GMT

Japan’s Nikkei lost 1.2 percent to end at a 1-1/2-week low.

Bourse gains LE 6.3B at onset of Sunday trading

Sun, 13 May 2018 - 10:57 GMT

he Egyptian Exchange indexes posted gains at the onset of Sunday's trading, backed by S&P's announcement of upgrading Egypt' sovereign credit rating.

S&P raises Egypt’s sovereign credit rating to B

Fri, 11 May 2018 - 11:27 GMT

International rating agency Standard and Poor’s (S&P) raised on Friday Egypt’s sovereign credit rating to (B) from (B -).