Latest news with #CBE
Daily News Egypt
2 hours ago
- Business
- Daily News Egypt
Private sector lending rises 10.1% in Q1 2025 as inflation eases: CBE
The Central Bank of Egypt (CBE) has announced that local currency loans to the private sector grew by an average of 10.1% in the first quarter (Q1) of 2025, a sharp turnaround from the -8.7% contraction recorded during the same period in 2024. In a recent report, the CBE attributed this rebound primarily to stronger demand from private businesses, supported by a significant decline in the annual headline inflation rate in February 2025. The Bank noted that these developments signal a recovery in real economic activity across the private sector, a trend expected to continue in the coming months. On the monetary side, the CBE projects a slowdown in the growth of local liquidity, expecting it to ease to 23.2% by the end of June 2025—down from 28.7% a year earlier. Liquidity growth is forecast to stabilise at 22.8% by the end of June 2026. This anticipated deceleration reflects the diminishing impact of the March 2024 exchange rate unification, which had previously triggered a surge in the banking sector's net foreign assets and created a strong base effect beginning in March 2025. Looking ahead, the Central Bank expects headline inflation to average between 14% and 15% in 2025 and decline further to a range of 10% to 12.5% in 2026. This compares to an average of around 28.4% in 2024. While inflation is projected to continue falling throughout 2025 and 2026, the CBE cautions that the pace of decline will moderate following the sharp drop observed in early 2025. This more gradual disinflation is attributed to ongoing fiscal consolidation efforts and the slower retreat in non-food commodity prices. The Bank reiterated its commitment to achieving its inflation target of 7% (± 2%) by the fourth quarter of 2026. It affirmed that current monetary conditions remain appropriate to support this path, adding that it will maintain a positive real interest rate to help secure a sustained decline in core inflation and anchor inflation expectations. In a separate update, the CBE disclosed that the net foreign assets (NFAs) of the banking system—which includes both the Central Bank and commercial banks—turned positive as of May 2024, reaching a surplus of $15.1bn by March 2025. This improvement was largely driven by inflows from the Ras El-Hekma deal and renewed foreign investment in Egyptian debt instruments, buoyed by increased investor confidence following the exchange rate unification. Additional support came from a recovery in remittances from Egyptians abroad and continued backing from international financial institutions.
NDTV
4 hours ago
- General
- NDTV
Staff Selection Commission (SSC) GD Constable Result Out Soon, Details Here
SSC GD Result 2025: The Staff Selection Commission (SSC) is expected to release the result for General Duty (GD) constable soon. Once declared, candidates who appeared for the examination will be able to check their result on the official website, The result will be declared along with the cut-off marks and merit list. The SSC GD constable exam was held from February 4 to February 25, 2025 in Computer-Based format. SSC GD Constable Result 2025: How To Check Your Result And Cut-Off marks? Visit the official SSC website, Click on the "Result" tab on the homepage. Select the "Constable-GD" option under exam category. Click on the link titled "SSC GD Constable Exam Result 2025". The result PDF will open with roll numbers of shortlisted candidates and cut-off details. Download the file for future reference. SSC GD Constable Result 2025: Various Posts SSC GD 2025 exam aims to fill a total of 53,690 seats across various paramilitary forces including: Narcotics Control Bureau (Sepoy) Assam Rifles (Rifleman GD) Central Armed Police Forces (CAPF) Special Security Force (SSF) SSC GD Constable Result 2025: After Result Process After clearing the Computer-Based Examination (CBE) for the post of SSC GD Constable, candidates will proceed to the Physical Efficiency Test (PET) / Physical Standard Test (PST) and medical examination. Candidates who qualify all the three examinations will be considered eligible for the post of SSC GD Constable.
Yahoo
6 hours ago
- Business
- Yahoo
Combined authority's CEO steps down from role
The chief executive of the West Midlands Combined Authority (WMCA) is stepping down after four years in the role. Laura Shoaf will remain in the role until 17 June and will continue as chair of Shadow Great British Railways, which was set up last year by the government under its plans to bring the UK's railways back into public ownership. Ms Shoaf said she was "sad" to be leaving the organisation she has been with since its inception, but was confident she was leaving it in good hands. The WMCA said Ed Cox, deputy chief executive, will step up as interim chief while a recruitment process gets under way for a permanent replacement. "I have lived and worked in the West Midlands for over 20 years, and I am proud that I have been able to make a real difference for our residents," Ms Shoaf said. "I will always champion our wonderful region and while I am sad to be leaving the combined authority, I know I am leaving it with people who care passionately about the West Midlands and will continue to see it go from strength to strength." West Midlands Mayor Richard Parker said Ms Shoaf had done an "exemplary job for the region" during her time in the job. In 2022, she was honoured with a CBE for services to economic regeneration in the West Midlands. "I want to thank Laura for her decades of service to the West Midlands," the mayor said. "I especially want to recognise the work she has done in my first year to help me embed and deliver my priorities. "I want to wish her every success in the future, especially continuing in her role as Chair of Shadow Great British Railways." This news has been gathered by the Local Democracy Reporting Service Follow BBC Birmingham on BBC Sounds, Facebook, X and Instagram. Regional authority boss takes rail reform job West Midlands Combined Authority
BBC News
7 hours ago
- Business
- BBC News
West Midlands Combined Authority CEO Laura Shoaf steps down
The chief executive of the West Midlands Combined Authority (WMCA) is stepping down after four years in the Shoaf will remain in the role until 17 June and will continue as chair of Shadow Great British Railways, which was set up last year by the government under its plans to bring the UK's railways back into public Shoaf said she was "sad" to be leaving the organisation she has been with since its inception, but was confident she was leaving it in good WMCA said Ed Cox, deputy chief executive, will step up as interim chief while a recruitment process gets under way for a permanent replacement. "I have lived and worked in the West Midlands for over 20 years, and I am proud that I have been able to make a real difference for our residents," Ms Shoaf said."I will always champion our wonderful region and while I am sad to be leaving the combined authority, I know I am leaving it with people who care passionately about the West Midlands and will continue to see it go from strength to strength." CBE honour West Midlands Mayor Richard Parker said Ms Shoaf had done an "exemplary job for the region" during her time in the 2022, she was honoured with a CBE for services to economic regeneration in the West Midlands."I want to thank Laura for her decades of service to the West Midlands," the mayor said."I especially want to recognise the work she has done in my first year to help me embed and deliver my priorities."I want to wish her every success in the future, especially continuing in her role as Chair of Shadow Great British Railways." This news has been gathered by the Local Democracy Reporting Service Follow BBC Birmingham on BBC Sounds, Facebook, X and Instagram.
See - Sada Elbalad
a day ago
- Business
- See - Sada Elbalad
Luxor Governor Receives US Senator Tim Sheehy to Discuss Strengthening Cooperation
Taarek Refaat Abdel Motaleb Amara, Governor of Luxor received Senator Tim Sheehy, a member of the US Congress, as part of his visit to Egypt and the accompanying high-level delegation. The meeting witnessed an open dialogue between the two sides, addressing ways to strengthen bilateral relations between the two countries. The Senator began his speech by expressing his happiness at being in Luxor for the second time after 22 years. He expressed his admiration for the positive changes taking place in the city and his amazement at ancient Egyptian civilization, emphasizing that Egypt is a country with a rich civilization dating back thousands of years. Sheehy added that Egypt is an important and ally in the Middle East region, and that it has a promising economic future over the next five years. He expressed his hope for strengthening American partnerships in Egypt and praised the country's ongoing comprehensive development efforts, particularly in infrastructure modernization and the renewable energy sector. On his part, the Governor of Luxor welcomed the US Senator and explained the governorate's economy, which is based on the cultural tourism sector, followed by agriculture and industry. He emphasized that tourist bookings have increased this year compared to last year, and that the booking rate for the upcoming tourist season is very promising and exceeds previous years, despite global events. The governor added that despite the hot June weather approaching, the continued growth of tourism in Luxor has not been affected. He attributed this to the stability and security Egypt enjoys thanks to the wisdom of President Abdel Fattah El-Sisi, who assumed the presidency 10 years ago. He also praised US support for the country. The US Ambassador to Cairo attended the inauguration of the new drinking water station in the village of El-Hanady, east of Esna, south of Luxor. This station will serve approximately 10 villages by 2024. The station was funded by the US Agency for International Development. At the end of the meeting, the US Senator wished Egypt continued prosperity and promised to visit Luxor again with his family. 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 News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks
