World shares charge higher after US stocks rally to records on hopes for interest rate cuts - Markets & Companies
Tokyo's benchmark Nikkei 225 added to its record set a day earlier.
The future for the S&P 500 was up 0.2%, while that for the Dow Jones Industrial Average was little changed.
A recent rally in share prices has been driven partly by relief over an extended truce in President Donald Trump's trade war with China, and partly by persisting hopes the Federal Reserve will cut interest rates.
Those were reinforced by a moderation in the consumer price index in July.
Germany's DAX rose 0.8% to 24,207.78 and the CAC 40 in Paris picked up 0.4% to 7,784.63.
Britain's FTSE 100 edged 0.1% higher, to 9,157.26.
'Asia woke up in full risk-on mode, riding the coattails of a US session that looked like someone hit the 'infinite bid' button after CPI didn't blow the inflation doors off,' Stephen Innes of SPI Asset Management said in a commentary.
China and the US agreed to extend by 90 days from Aug. 12 their pause in drastically higher tariff rates on each others' exports to allow more time for talks on a broad trade agreement.
Although uncertainty over what the negotiations will yield remains, the truce has relieved pressure on companies and countries across Asia that rely heavily in supply chains routed through China.
Hong Kong's Hang Seng surged 2.6% to 25,613.67, while the Shanghai Composite index added 0.5% to 3,683.46.
In Japan, relief over the Trump administration's confirmation that its exports will face a flat 15% US import duty has driven strong buying of computer chip-related companies and other exporters.
The Nikkei 225 gained 1.3% to 43,274.67.
Elsewhere in Asia, South Korea's Kospi advanced 1.1% to 3,224.37. In Australia, the S&P/ASX 200 shed 0.6% to 8,827.10.
Taiwan's Taiex was up 0.9% and the Sensex in India gained 0.5%.
In Bangkok, the SET climbed 1% after the Bank of Thailand cut its key interest rate by 0.25 percentage points to 1.5%.
On Tuesday, the S&P 500 rose 1.1% to top its all-time high set two weeks ago. It closed at 6,445.76.
The Dow Jones Industrial Average climbed 1.1% to 44,458.61, while the Nasdaq composite jumped 1.4% to set its own record of 21,681.90.
The better-than-expected report on inflation raised hopes the Federal Reserve will have the leeway to cut interest rates at its next meeting in September.
Tuesday's report said US consumers paid prices for groceries, gasoline and other costs of living that were overall 2.7% higher in July than a year earlier. That's the same inflation rate as June's, and it was below the 2.8% that economists expected.
Lower rates would give a boost to investment prices and to the economy by making it cheaper for US households and businesses to borrow to buy houses, cars or equipment.
President Donald Trump has angrily been calling for cuts to help the economy, often insulting the Fed's chair personally while doing so.
The Fed has hesitated, worried that Trump's tariffs could make inflation much worse.
The Fed will get one more report on inflation and another on the US job market, before its next meeting, which ends Sept. 17. The most recent jobs report was a stunner, coming in much weaker than economists expected.
Critics say the broad US stock market is looking expensive after its surge from a bottom in April. That's putting pressure on companies to deliver continued growth in profit.
In other dealings early Wednesday, US benchmark crude oil dropped 26 cents to $62.91 per barrel. Brent crude, the international standard, declined 20 cents to $65.92 per barrel.
The US dollar fell to 147.24 Japanese yen from 147.84 yen. The euro climbed to $1.1727 from $1.1677.
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See - Sada Elbalad
an hour ago
- See - Sada Elbalad
S&P Upgrades Lebanon's Local Currency Rating, Keeps Foreign Debt in Default
Taarek Refaat Ratings agency Standard & Poor's (S&P) has raised Lebanon's long-term local currency rating to CCC from CC, while maintaining its selective default (SD) status on foreign currency obligations, citing continued challenges in debt restructuring and external financing. The agency said the upgrade reflects the government's improved capacity to service commercial debt in local currency, supported by recent fiscal surpluses and incremental progress on reforms required for a potential new program with the International Monetary Fund (IMF). S&P's decision comes even as Lebanon remains classified in 'selective default' on foreign debt, a category applied when an entity fails to meet certain obligations but continues servicing others. Lebanon defaulted on its Eurobond payments in 2020, and while it has resumed servicing interest payments on local debt to the central bank since 2024, major steps toward a comprehensive debt restructuring remain elusive. S&P said it does not expect significant progress until after parliamentary elections scheduled for May 2026. Lebanon's local currency debt has shrunk dramatically to just 2% of GDP (less than $1 billion) by the end of 2024, compared to around 100% of GDP before the 2019 financial collapse. This was driven by a 98% depreciation of the Lebanese pound between 2019 and 2024. Since the formation of Prime Minister Nawaf Salam's government in early 2025 under President Joseph Aoun, parliament has passed amendments to the banking secrecy law and approved a long-awaited bank restructuring law. However, lawmakers have yet to enact the crucial 'financial gap' law, needed to allocate past losses and compensate depositors. The IMF has repeatedly stressed that such legislation, along with a credible 2026 budget that boosts revenues and rationalizes spending, is essential before a new bailout program can move forward. Lebanon's economy contracted by 6.5% in 2024, leaving GDP at around $28 billion, nearly half its size in 2018. S&P projects modest average growth of 2.3% in 2025–2026, assuming relative stability in the exchange rate, which has hovered at 89,500 liras per U.S. dollar since February 2024. The agency also expects Lebanon's net government debt to decline to 113% of GDP by end-2025, down from 240% in 2022, aided by improved fiscal performance, nominal GDP growth driven by inflation, and currency stabilization. Still, external vulnerabilities persist. S&P forecasts the current account deficit to remain high at an average of 18% of GDP over the next few years, though lower than the 23% average recorded in 2023–2024. Beyond financial hurdles, Lebanon's outlook remains clouded by regional instability. Despite a ceasefire reached in late 2024, tensions between Israel and Hezbollah continue to weigh on investor sentiment and economic recovery prospects. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 Videos & Features Story behind Trending Jessica Radcliffe Death Video News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt News The Jessica Radcliffe Orca Attack? 100% Fake and AI-Generated
Mada
5 hours ago
- Mada
RSF's largest assault on Fasher in a year kills dozens of civilians in Abu Shouk camp Humanitarian collapse in South Kordofan's Kadugli, Dalang as RSF, SPLM-N tighten siege
In the first high-level engagement with the United States since the outbreak of war, a senior Sudanese delegation met with US officials in Zurich on Monday, a source in the Transitional Sovereignty Council (TSC) told Mada Masr. Responding to a US proposal for direct talks with the United Arab Emirates — a member of the Washington-led group on Sudan — the Sudanese side said that such a meeting would only happen if Abu Dhabi first ceased its military support to the Rapid Support Forces (RSF). The talks came as the UAE has rolled out a series of economic measures against Sudan in recent weeks. Earlier this week, the UAE, Sudan's largest gold buyer, suspended all trade with the country. Soon after, Khartoum began preparing to launch its first national gold exchange, a TSC member told Mada Masr. The move, the source said, aims to position Sudan as a global gold trading hub, with any transactions conducted outside the exchange deemed illegal. Meanwhile, the RSF mounted its largest ground assault in over a year on Fasher — the Sudanese Armed Forces' last major stronghold in Darfur — on Monday and Tuesday, deploying foreign mercenaries, military sources told Mada Masr. Military and allied forces repelled the attack and killed three RSF commanders, the military announced. In the offensive, RSF fighters stormed the Abu Shouk displacement camp north of Fasher and killed 34 civilians. In South Kordofan, the cities of Dalang and Kadugli are in the grip of deepening hunger and humanitarian collapse as the RSF and its ally, the Sudan People's Liberation Movement-North, tighten their joint siege. Child malnutrition rates have risen to 25 percent amid soaring prices, dwindling food supplies and a devastated agricultural sector, while around 80 percent of essential medicines have run out in both cities' hospitals, state officials said. The RSF-led Tasis coalition's government, declared in late July, continues to draw regional and international opposition. On Wednesday, the United Nations Security Council joined the African Union and the Arab League in rejecting the parallel administration. Khartoum welcomed the move, while Tasis said their new government draws legitimacy from 'the support of large sectors of the population.' *** Unannounced Sudan-US talks held in Switzerland In a first major step since United States President Donald Trump took office, a high-level Sudanese delegation met with US officials to discuss ending the war, humanitarian aid delivery and the role of the United Arab Emirates in negotiations. The meeting was held on Monday in Zurich, Switzerland, an informed source in the Transitional Sovereignty Council (TSC) told Mada Masr, and tackled three longstanding points of contention that have stalled US efforts to broker negotiations between Sudan's government, the RSF and international stakeholders — issues on which Khartoum has held a firm stance since the US-led Geneva peace talks in August 2024. Both sides explored the possibility of crafting a roadmap to end the war, discussing the government's conditions for entering broader negotiations involving the US-led Quad group on Sudan and other regional powers. While the US suggested that Sudan and the UAE could hold discussion sessions, the Sudanese delegation insisted that Abu Dhabi must halt all military assistance to the RSF before any consultations or formal process could begin. The talks also focused extensively on humanitarian aid. Sudan, the source said, rejected US claims that the government was slow in facilitating aid deliveries. The delegation outlined the government's efforts to ensure aid reached its destinations and detailed RSF attacks on convoys, particularly those bound for Fasher, accusing the RSF of pursuing a strategy of looting humanitarian supplies. The source would not confirm whether TSC head Abdel Fattah al-Burhan personally led the delegation, but said it included senior officials from the council, the Foreign Ministry, the General Intelligence Service and military intelligence. The US side, they added, included advisors, members of the Central Intelligence Agency and State Department officials. Describing the talks as 'highly transparent' and conducted with 'a flexibility that could help build mutual trust,' the source suggested they could pave the way for more in-depth discussions toward a workable process. Meanwhile, Sudanese press reported that Burhan attended a Qatari-arranged high-level meeting in Switzerland on Monday night with Massad Boulos, the US senior advisor on Arab, Middle Eastern and African affairs. *** Humanitarian collapse in South Kordofan's Kadugli, Dalang as RSF, SPLM-N tighten siege Kadugli and Dalang in South Kordofan are facing a deepening hunger crisis and full-scale humanitarian collapse as the RSF and its allied Sudan People's Liberation Movement-North (SPLM-N) tighten their joint siege on the cities. On August 4, Finance Minister Jibril Ibrahim announced an emergency plan to airdrop food and medicine in coordination with government bodies and United Nations agencies. Conditions in the two cities had worsened sharply by the end of June, when RSF and SPLM-N forces closed the road linking Kadugli and Dalang, bringing supply chains to a complete halt. But the blockade itself began in October 2023 and has since driven prices of basic staples by up to 300 percent compared to pre-siege levels, South Kordofan Deputy Governor Jaber Daldoum told Mada Masr. Sixty percent of local grain reserves are now depleted, he said, while basic services have collapsed over the past two years, with near-total absence of water, healthcare and electricity. Fighting between the two sides has only worsened the acute food shortage. Around 40 percent of crops have been destroyed and 75 percent of livestock killed as the war continues to engulf the cities and their surrounding areas, according to an official in the state's Agricultural Ministry department. This has led to a 60 percent drop in agricultural output, the official said. Child malnutrition rates have risen to 25 percent, a public health official told Mada Masr, and 30 percent of residents now face severe shortages of clean drinking water. In late July, women and girls in Kadugli staged protests over the deteriorating living conditions, demanding that the military release food stored in its warehouses. The demonstrations were met with repression, and eight women were detained for at least two days, according to the Sudanese Women Rights Action. The group noted that most households in Kadugli are headed by women, 'who are disproportionately affected by rising prices and limited access to food.' On the healthcare front, around 80 percent of essential medicines have run out from hospitals in both cities, and half of all health centers have shut down entirely, the state's Health Minister Jawaher Suleiman told Mada Masr. Seventy percent of kidney failure patients in Dalang have been unable to access dialysis sessions, she noted, while the public health official said 40 percent of births take place without adequate medical care. Suleiman confirmed that the government is working with UN agencies to carry out urgent airdrops of medicines. Dalang and Kadugli are considered strategic strongholds for the military, serving as its largest bases in the south. Since 2010, they have been central hubs for protecting military and commercial interests and, since the outbreak of war in 2023, for supplying ground operations against the RSF in Darfur. The cities also play a key role in preventing North and West Kordofan from falling under RSF control, acting as launch points for strikes on RSF supply lines from Darfur and the Central African Republic. *** Sudan to establish gold exchange after UAE trade restrictions After the United Arab Emirates, Sudan's largest gold buyer, suspended all trade with the country, Transitional Sovereignty Council Chair Abdel Fattah al-Burhan ordered the activation of the Sudan International Gold Exchange, sources in the TSC and Cabinet told Mada Masr. According to the TSC source, the decision aims to position Sudan as a global hub for gold trading. The exchange will regulate all domestic and international sales, set the official price of Sudanese gold and operate an online platform for international transactions. Burhan instructed the Finance Ministry and the Central Bank of Sudan to activate the exchange, which was first approved in August 2021, when Finance Minister Jibril Ibrahim issued a decision to establish an exchange for gold and minerals. But implementation stalled due to arrangements related to the transitional government at the time, the TSC source said. The current directive establishes a facilitating committee chaired by the Finance Ministry and includes senior officials from the Minerals Ministry, the Central Bank of Sudan, the Sudan Gold Refinery Company and the Khartoum Stock Exchange. The committee is tasked with developing an implementation plan for the exchange, designing infrastructure in line with global standards, drafting executive regulations and outlining technical requirements for a digital trading system. All gold exports will be required to go through the exchange, with any transactions outside it deemed a breach punishable by law. Prices will be set at a competitive rate below the global market to attract buyers and investors, the source said, with the aim of boosting hard-currency revenues. The decision comes after the UAE suspended all trade with Sudan, a Cabinet source told Mada Masr. That move was preceded by a ban on Sudanese airlines landing at Emirati airports last week, imposed just days after Khartoum accused Abu Dhabi of financing mercenaries fighting alongside the RSF. The UAE is one of Sudan's largest trading partners. According to a source at the Central Bank of Sudan, exports to the UAE in 2024 reached US$1.7 billion, more than half of Sudan's total $3.14 billion in exports. Gold made up the bulk of these exports. Of the 23 tons shipped abroad in 2024, from a total of 64 tons produced, most went to UAE markets, the source said. The military controls all of Sudan's gold production sites, whether operated by investment companies or individuals working in traditional mining. Current production is concentrated in four main states, with the Nile River and Northern states accounting for over 80 percent of Sudan's total output, according to a source in the Sudanese Mineral Resources Company, which manages all gold-related activities. Since the 2011 secession of South Sudan, which saw Khartoum lose 75 percent of its crude oil production, Sudan has relied heavily on gold. From 2013 onward, Sudan's gold drew growing competition from business and military sectors. Mohamed Hamdan 'Hemedti' Dagalo rose both as a military and economic power through his control of the Jabal Amer gold mine and other areas. This financial expansion lasted until Burhan dissolved his companies in September 2023, bringing them under military control. Since the outbreak of the war in April 2023, Sudan's treasury has leaned even more heavily on gold exports, which have continued uninterrupted. Production surged to 64 tons in 2023, from 41 tons the previous year, according to the Sudanese Minerals Resources Company. Meanwhile, Sudan's imports from the UAE — the second largest source after China — have declined sharply during the war, dropping to between US$600 million and $800 million annually in 2023 and 2024, down from around $1.17 billion per year before the war, according to a source in the Finance Ministry. The source attributed the drop to the conflict's impact on commercial and industrial activity. Yet the trade balance between the two countries still yielded a surplus, providing Sudan with significant foreign currency to fund vital imports such as petroleum, medicines and other basic goods, according to the source. Much of Sudan's private sector relies on export revenues from gold, agricultural products and other commodities to finance their operations. *** Military, allied forces repel RSF attack on Fasher, dozens shot dead in raid on Abu Shouk camp Heavy fighting broke out this week in Fasher, the capital of North Darfur, in what a military source described as the fiercest RSF assault on the city in over a year. The offensive included a deadly raid on the Abu Shouk displacement camp, north of the city, which killed dozens of civilians. The RSF launched the assault at around 6:30 am on Monday, advancing from several directions in over 500 vehicles carrying troops and heavy weaponry, according to the military source. Drones were deployed extensively, striking Fasher's outskirts and residential areas before ground forces engaged. As part of the offensive, RSF fighters stormed the northern part of Abu Shouk camp, the camp's emergency room stated. Thirty-six civilians were killed, four others injured and six reported missing. Victims were shot dead in their homes and on the streets, while others were killed by stray bullets, according to the emergency room. Backed by the armed movements' joint force and Popular Resistance groups, the military repelled the attack on Fasher, the military source told Mada Masr. Initially withdrawing from some defensive positions to draw the RSF forward, particularly along the livestock market axis, they then launched a series of ambushes that inflicted heavy losses and forced the attackers to retreat to east Lafa Tagro on Fasher's outskirts. According to the joint force, 254 fighters were killed in the battle, with 16 combat vehicles destroyed and 34 others captured. The military announced that three RSF commanders were killed in the fighting and said that the attackers included mercenaries from Colombia, South Sudan and other countries. The RSF, for its part, said it made significant advances toward the military's Sixth Infantry Division headquarters. On Tuesday, it renewed its assault from the south and southwest, but the Sixth Infantry Division said it repelled the attack, killing more RSF fighters, destroying and seizing combat vehicles and chasing the fighters out of Fasher. A field source in the armed movements told Mada Masr that Colombian fighters were among those ambushed on Tuesday, with some killed and others captured. Social media accounts and news outlets circulated videos showing foreign mercenaries fighting alongside the RSF. Joint force spokesperson Ahmed Hussein Mostafa told Mada Masr that Colombian mercenaries have been involved in Fasher for about a year. He said that they initially travelled from the UAE to Benghazi, Libya, and then crossed the desert to Fasher. But after the military intercepted several convoys along the desert route, the path was changed to run from the UAE to Benghazi and then on to Nyala International Airport in South Darfur before reaching Fasher. Mostafa said that the RSF's foreign fighters also include mercenaries from Chad, the Central African Republic, Libya, Ethiopia, South Sudan and beyond Africa. He accused the UAE of supplying mercenaries to bolster the RSF after its core forces had been depleted, aiming to secure a victory in Fasher. Mostafa maintained that the situation on the ground remains 'fully under control,' dismissing claims of RSF advances into Fasher and saying the group suffered a 'crushing defeat' after amassing forces in Libya for the Monday assault. The RSF, he added, continues to rely on long-range artillery and strategic drone strikes from outside Fasher. *** Drone strike hits military-allied Sudan Shield Forces parade in eastern Gezira A drone strike on Wednesday targeted a Sudan Shield Forces parade in Tambul, eastern Gezira, during celebrations marking the 71st anniversary of the founding of the Sudanese Armed Forces. The event was attended by Sudan Shield Forces Commander Abu Agla Keikel. Three people were killed and 10 others injured, including children, a source in Tambul told Mada Masr. Ground defenses shot down two suicide drones, while a third hit its target and a fourth crashed in an empty area, they said. The Sudan Shield Forces accused the RSF of carrying out the attack, confirming civilian deaths and injuries, among them three children. The group said the assault could have killed hundreds of its fighters and civilians. In a statement after the incident, Keikel said the attack would not intimidate his forces, vowing to press ahead with their advance to 'liberate Kordofan and Darfur' and secure 'complete victory over the militias.' In recent weeks, at the military's request, the Sudan Shield Forces have deployed large numbers of troops to Kordofan fronts, where they made territorial gains and engaged in heavy clashes with RSF forces. *** UN Security Council rejects parallel govt in western Sudan The United Nations Security Council has rejected the RSF's announcement of a parallel government in western Sudan. In a statement on Wednesday, council members said the formation of such an administration poses a 'direct threat to Sudan's territorial integrity' and could fuel the ongoing fighting and deepen an already severe humanitarian crisis. The statement comes weeks after the RSF-led Tasis coalition declared the parallel government in late July, naming RSF Commander Mohamed Hamdan 'Hemedti' Dagalo head of its presidential council. Council members stressed that the priority remains the resumption of negotiations aimed at securing a permanent ceasefire and creating the conditions for an inclusive political settlement involving all Sudanese political and social forces. They also urged all UN member states to avoid any external interference that could prolong the war. While the Foreign Ministry welcomed the statement, the Tasis coalition said on Thursday that its government draws legitimacy from 'the support of large sectors of the population who have been deprived, by the authority in Port Sudan, of their most basic constitutional rights.' Speaking to Mada Masr, the RSF commander's advisor Omran Abdallah dismissed the UN council's statement as symbolic with no binding effect on the RSF. He said that the group agrees with many of the council's points regarding humanitarian conditions in Darfur and Kordofan and supports calls for aid access, but rejected what he described as allegations of an RSF-imposed siege on Fasher. Abdallah maintained that the RSF is working to protect civilians and said the Tasis-led government emerged from urgent public needs for essential services, including identity documents, currency, security, medicine, healthcare and education.
See - Sada Elbalad
9 hours ago
- See - Sada Elbalad
Gold Records Weekly Loss Ahead of Jackson Hole and U.S. Rate Decision
Waleed Farouk Gold prices in the local market posted a slight decline on Saturday, coinciding with the weekend closure of global exchanges, after spot gold ended Friday with a sharp weekly drop of about 1.8%. Investors are now awaiting the Jackson Hole symposium and the anticipated U.S. interest rate cut. Locally, the price of 21-karat gold fell by around EGP 15 compared with Friday's close, settling at EGP 4,535 per gram, while the ounce dropped by $61 to stand at $3,336. The 24-karat gram reached EGP 5,183, the 18-karat stood at EGP 3,887, and the 14-karat at EGP 3,024, with the gold pound coin stabilizing near EGP 36,280. On Friday, gold had already edged down by EGP 5, opening at EGP 4,555 for 21-karat and closing at EGP 4,550, while the ounce slipped from $3,338 to $3,336. Global Pressures and Volatility The global gold market registered its steepest weekly decline since June, shedding 1.8% amid volatile U.S. economic data and mixed signals over potential tariffs on bullion. The week opened with heavy selling after clarifications from the U.S. administration on gold tariffs, which weighed on both spot and futures prices. However, weaker-than-expected CPI data on Tuesday briefly supported the metal, reinforcing bets on a September rate cut. Still, stronger-than-forecast PPI data on Thursday reignited concerns over persistent inflation, dampening expectations for swift monetary easing. Narrow Range and Fed Outlook Gold remained stuck in a tight trading range, reflecting consolidation and investor caution ahead of fresh catalysts. Traders are now awaiting additional U.S. economic data and the FOMC minutes due next week for clearer signals on the Fed's policy trajectory. Dollar, Yields, and Rate Expectations The U.S. Dollar Index slipped 0.37% to 97.83, pressured by weaker consumer sentiment and rising inflation expectations. However, higher Treasury yields capped gold's gains. According to CME's FedWatch tool, traders assign a 95% probability of a 25 basis-point rate cut in September, while the likelihood of a larger 50-point cut has diminished following the latest inflation data. U.S.–Russia Summit and Geopolitical Risk The highly anticipated summit between U.S. President Donald Trump and Russian President Vladimir Putin in Alaska concluded without an agreement to end the war in Ukraine, despite being described as 'productive.' Geopolitical uncertainty remains a key driver of gold's safe-haven appeal, alongside expectations of U.S. monetary easing. Institutional Outlook Analysts at ANZ Bank forecast that mounting economic and geopolitical risks in the second half of 2025 will continue to bolster gold demand. They note that the metal's bullish trend remains intact, supported by potential new tariffs, slowing global growth, and a more accommodative U.S. monetary stance. The Week Ahead Markets are bracing for a busy U.S. data calendar next week, including: Tuesday: Building permits and housing starts Wednesday: July FOMC minutes, Fed speeches, and the start of the Jackson Hole symposium Thursday: Philadelphia Fed index, jobless claims, preliminary PMI, and existing home sales Friday: Fed Chair Jerome Powell's keynote speech from Jackson Hole read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 Videos & Features Story behind Trending Jessica Radcliffe Death Video News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt News The Jessica Radcliffe Orca Attack? 100% Fake and AI-Generated
