Tarek El-Tablawy
Editor at Bloomberg News
Bloomberg North Africa Editor - Opinions are my own. Tweets aren't endorsements
Articles
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1 month ago |
bloomberg.com | Mirette Magdy |Tarek El-Tablawy
The Central Bank of Egypt in Cairo. (Bloomberg) -- Egypt cut interest rates for the second time in as many months, seeking to boost economic growth before a likely fresh round of fiscal reforms this summer spurs renewed caution. The central bank reduced the benchmark deposit rate by 100 basis points to 24%, the Monetary Policy Committee said Thursday in a statement. The lending rate was lowered by the same amount to 25%.
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1 month ago |
bloomberg.com | Tarek El-Tablawy
Ships sail along the Suez Canal near Ismailia, on April 16. (Bloomberg) -- Egypt cut fees for some vessels crossing the Suez Canal, seeking to revive the critical trade route after the US agreed to a ceasefire with Yemeni militants attacking Red Sea shipping. Container ships with a net tonnage of at least 130,000 tons, laden or empty, will be able to pay 15% less for a period of 90 days, the Suez Canal Authority said Tuesday.
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1 month ago |
financialpost.com | Mirette Magdy |Tarek El-Tablawy
Article content(Bloomberg) — Egyptian inflation slightly accelerated for a second month, an anticipated quickening driven by a cut in fuel subsidies that’s unlikely to put the brakes on a long-awaited monetary-easing cycle. Sign In or Create an AccountArticle contentWe apologize, but this video has failed to load. Try refreshing your browser, ortap here to see other videos from our team.
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1 month ago |
bloomberg.com | Mirette Magdy |Tarek El-Tablawy
Food and beverage prices, the largest single component of the inflation basket, climbed 6% year-on-year, compared with 6.6% in March. (Bloomberg) -- Egyptian inflation slightly accelerated for a second month, an anticipated quickening driven by a cut in fuel subsidies that’s unlikely to put the brakes on a long-awaited monetary-easing cycle. Consumer prices in urban areas grew an annual 13.9% in April versus 13.6% the month before, Egypt’s main statistics body said Saturday.
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2 months ago |
news.bloombergtax.com | Mirette Magdy |Tarek El-Tablawy
Egypt cut interest rates for the first time in almost five years, potentially spurring investment key to an economic rebound while easing some of the Middle East’s highest debt-servicing costs. The central bank reduced the benchmark deposit rate by 225 basis points to 25%, the Monetary Policy Committee said Thursday in a statement. The lending rate was lowered by the same amount to 26%. Five of eight economists surveyed by Bloomberg had predicted the long-awaited bout of monetary easing.
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Egypt and the IMF agree to more than double the country’s rescue program to $8 billion, the culmination of recent global efforts to stabilize the cash-strapped regional linchpin squeezed by wars and inflation https://t.co/RRqJmbbdBR via @bpolitics
Egyptian President Abdel-Fattah El-Sisi wins a third term by a landslide, extending to 2030 his rule over the North African nation https://t.co/1cv7DHMr9X via @bpolitics
Egyptian President Abdel-Fattah El-Sisi will face three challengers in December elections https://t.co/qBSYMnF87i via @bpolitics