Latest news with #OwnershipPolicy
See - Sada Elbalad
2 days ago
- Business
- See - Sada Elbalad
Luxury Diamond Market Trends: How the Market Responds to Price and Demand Changes in 2025
Waleed Farouk Prices for luxury fancy-color diamonds fell by 0.5% in the second quarter of the year. However, price increases in several sizes and intensity grades indicate early signs of market stabilization, according to the Fancy Color Research Foundation (FCRF). Pink diamond prices dipped slightly by 0.4% compared to the previous quarter, yet optimism remains. Pink stones dominated four out of the top five gainers in the list. Prices for fancy-vivid pink diamonds weighing 1 carat rose 1.8%, while fancy-intense pink diamonds of the same weight increased by 1.5%. Ten-carat fancy-vivid pink diamonds rose 1.2%, and five-carat fancy-vivid pink stones climbed 1.1%. Blue fancy-color diamonds declined by 0.3%, less than the 0.5% drop seen in the first quarter. The 1.50-carat fancy-vivid blue category was the leading gainer with a 1.5% increase. Blue diamonds weighing 8 carats increased 0.7%, and 1.50-carat fancy-blue stones stabilized after a 0.3% fall in Q1. Conversely, fancy yellow diamonds declined by 0.7%. They occupied four of the five largest drops, including a 3% fall for fancy-intense yellow diamonds at 3 carats, a 2.6% drop for the 10-carat category, a 2.5% decrease for 2-carat stones, and a 2.2% decrease for 1-carat stones. Since 2005, FCRF data show that yellow diamonds have increased by about 48%, pink diamonds have surged 391%, and blue diamonds have risen 241% in value. The foundation commented that with price reversal signals and gains in various sizes and intensities, especially for highly saturated colors, the market appears poised for a resurgence in demand in the second half of the year. On a year-over-year basis, the overall index dropped 2.4%, despite slight growth in some categories. Pink diamonds fell 1.4%, blue fancy-color diamonds decreased 1.9%, reflecting relative stability, while yellow diamonds fell 5%. 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 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 Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Sports Get to Know 2025 WWE Evolution Results News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence"
See - Sada Elbalad
3 days ago
- Business
- See - Sada Elbalad
Egypt's Trade Deficit Narrows to Lowest in Six Years as Exports Surge
Taarek Refaat Egypt's non-oil trade deficit fell sharply in the first half of 2025, reaching its lowest level in six years at $14.3 billion, down nearly 18% year-over-year, according to Bloomberg. The improvement was largely driven by a surge in goods exports, which rose by 22% to $24.5 billion between January and June. Imports during the same period also increased, but only marginally, up 3% to $38.8 billion. In the same period last year, the trade deficit stood at $17.4 billion. The biggest contributor to Egypt's export growth was the building materials and metals sector, which accounted for 30% of total goods exports — approximately $7.5 billion. Other major contributors included: Chemicals and fertilizers: $4.5 billion (18%) Food industries: $3.3 billion (13%) Engineering products: $3.1 billion (12%) Agricultural exports: $2.9 billion (12%) Ready-made garments: $1.6 billion (6.5%) The government aims to increase total exports to $145 billion by 2030, with $118 billion coming from industrial exports. UAE Leads as Top Export Destination Five countries accounted for nearly 40% of Egypt's total exports in the first half of 2025: United Arab Emirates – $3.7 billion (up 163% YoY) Turkey – $1.6 billion Saudi Arabia – $1.4 billion (down 14%) United States – $1.43 billion Italy – $1.37 billion The rise in non-oil exports helped offset declining Suez Canal revenues, which have been impacted by disruptions in Red Sea shipping caused by Houthi attacks. In 2024, Egypt's total exports grew 5.4% to $44.8 billion, of which $39.4 billion were non-oil exports, according to the Central Agency for Public Mobilization and Statistics. Despite the positive trend, Minister of Investment and Foreign Trade Hassan El-Khatib acknowledged in January that Egypt's exports still represent only 10% of GDP, one of the lowest ratios globally. The government's target is to raise this figure to 20–30%, while maintaining import levels at around 20% of GDP, a rate El-Khatib called 'moderate.' As part of its new export support framework, Egypt plans to link incentives to annual increases of 5% in local content, maintaining a minimum threshold of 35% local input for eligibility. The government has also nearly doubled its export support budget, allocating EGP 45 billion ($975 million) for fiscal year 2025–2026, compared to EGP 23 billion the previous year. 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 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 Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Sports Get to Know 2025 WWE Evolution Results News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" Arts & Culture Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language
See - Sada Elbalad
4 days ago
- Business
- See - Sada Elbalad
Egypt Leads North Africa in Copper Exports
Taarek Refaat Egypt has emerged as North Africa's top copper exporter, outpacing regional peers Morocco and Libya, according to a new report by Business Africa, which ranked the continent's top 10 copper-exporting countries. The report underscores copper's rising status as Africa's second-most valuable export after crude oil, with total trade value reaching an estimated $35 billion in 2024. While 52 out of 54 African nations export copper in some capacity, 98% of the continent's copper export value is concentrated in just 10 countries. Egypt's growing prominence in copper exports reflects its accelerated push to expand its mining and metals sector, part of a broader economic diversification strategy. The report highlighted Egypt's key export markets, including Europe, the Middle East, and North Africa, positioning the country as an increasingly important supplier in regional and global copper supply chains. 'Egypt's rise in copper exports supports its ambition to become a key hub for mineral resources in the region,' the report noted, pointing to infrastructure improvements and regulatory reforms in the mining sector. Africa currently accounts for 15.3% of global copper exports, a sizeable contribution given rising global demand for the metal, which is critical in renewable energy infrastructure, electric vehicles, and industrial manufacturing. Beyond North Africa, the continent's leading copper exporters include: DRC Zambia Tanzania Republic of Congo Namibia Nigeria These countries dominate Africa's copper output, supplying the bulk of raw materials to global markets. The report also notes that China remains the primary destination for most African copper exports, reflecting the Chinese economy's unrelenting demand for raw materials to fuel its manufacturing and energy transition sectors. 'The Chinese market continues to play a central role in shaping copper trade dynamics across Africa,' Business Africa said. As nations worldwide invest heavily in green technologies and electrification, copper demand is expected to rise further, presenting strategic opportunities for countries like Egypt to cement their positions in the global value chain. 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 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 Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Sports Get to Know 2025 WWE Evolution Results News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" Arts & Culture Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language
See - Sada Elbalad
4 days ago
- Business
- See - Sada Elbalad
Trump: "I Don't Like a Weak Dollar, But It Makes a Lot of Money"
Taarek Refaat U.S. President Donald Trump on Friday delivered conflicting remarks about the strength of the U.S. dollar, saying he prefers a strong currency but also praised the economic upside of a weaker one, particularly for American manufacturing. 'I'd never say I love a weak currency,' Trump told reporters as he departed for Scotland. 'I'm someone who prefers a strong dollar, but weakness makes you a lot of money.' His comments come amid growing speculation in global markets that the Trump administration may be implicitly favoring a weaker dollar as part of its strategy to boost exports and domestic industry. This isn't the first time Trump has sent mixed signals on currency policy. In earlier statements, he warned: 'I won't allow the dollar to fall. Losing the dollar as a reserve currency would be like losing a war.' Yet recent moves by his administration, including aggressive tariff hikes and nationalistic trade policies—have contributed to mounting pressure on the dollar. Currency traders are closely watching for signs that the White House might be steering away from the strong-dollar policy long upheld by previous administrations. According to The Economist, the dollar is undergoing its most significant weakness in years, driven in part by policy unpredictability under Trump's leadership. Recent tariffs, including a 50% duty on copper and a 30% levy on EU imports, have only added to market unease. While U.S. financial markets remain broadly stable, some analysts warn that the dollar's position as the world's premier safe-haven asset may no longer be assured. Investors appear increasingly desensitized to policy shocks, with major announcements drawing more muted reactions than in previous years. At the same time, emerging market economies have shown a growing appetite for euro-denominated bonds, reflecting a broader shift away from dollar reliance. Trump's remarks underscore a complex challenge: balancing domestic economic gains from a weaker dollar with the long-term risks of diminished global trust in the currency. While a weaker dollar can supercharge exports and benefit manufacturers, sustained depreciation could undermine the currency's central role in global finance. As Trump walks a fine line between nationalist economic goals and global financial stability, markets continue to brace for further volatility. 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 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 Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Sports Get to Know 2025 WWE Evolution Results News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" Arts & Culture Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language
See - Sada Elbalad
5 days ago
- Business
- See - Sada Elbalad
Russia's Central Bank Slashes Interest Rate by 200 Basis Points
Taarek Refaat The Central Bank of Russia cut its key interest rate by a dramatic 200 basis points on Friday, bringing it down to 18% in the country's largest rate reduction since May 2022. The move comes as part of an effort to stimulate lending and revive a slowing economy, amid early signs that inflation may be cooling. The decision aligns with expectations from a Reuters poll of 27 economists and reflects mounting pressure from Russian business leaders and some government officials, who argue that high borrowing costs are stifling economic activity. Friday's cut follows a series of aggressive hikes that began in July 2023, when the central bank raised rates in response to surging military spending and overheating in various sectors of the economy. Those measures, while aimed at stabilizing prices, have pushed Russia dangerously close to recession, according to comments made by the Russian Minister of Economy last month. This latest reduction also marks the most significant monetary policy easing since the 300-point rate cut in May 2022, which came in the wake of Western sanctions following the launch of Russia's military campaign in Ukraine. Alongside the rate cut, the central bank revised its inflation forecast for 2025, lowering it to a range of 6% to 7%, down from the previous projection of 7% to 8%. Officials cited faster-than-expected declines in inflationary pressure as a key factor in the policy shift. 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 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 Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Sports Get to Know 2025 WWE Evolution Results News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks
