Latest news with #geopoliticalRisk
Zawya
3 days ago
- Business
- Zawya
Egypt shows early signs of economic stabilisation amid global headwinds: HSBC
Simon Williams, HSBC's chief economist for Central and Eastern Europe, Middle East and Africa (CEEMEA), and Helen Belopolsky, the bank's global head of geopolitical risk, presented their outlook on Egypt's economy to clients and stakeholders during a series of exclusive briefings held last week at HSBC Egypt's Head Office. "Inflation is stabilizing, the currency is holding, the budget deficit is easing, and interest rates are starting to fall. But while this means Egypt's rebalancing is now well underway, ongoing policy discipline will be key to complete the process, particularly with Suez revenues, the energy sector under pressure, and geopolitical risks still unresolved," Williams said. 'As global geopolitical dynamics continue to evolve, it is increasingly important for the businesses to adapt to persistent volatility, with Egypt's reform program well underway, the country is strongly positioned to capitalize on the opportunities emerging from today's shifting geopolitical landscape,' Belopolsky added. Todd Wilcox, HSBC Egypt deputy chairman and chief executive officer, commented, 'The fundamental opportunities in Egypt have shifted. Liquidity in the market is improving, and trade flows are starting to shift. New investors see Egypt as a manufacturing hub; this will help boost exports and reduce future foreign currency (FX) risk. For 44 years, HSBC has been a trusted partner to businesses in Egypt, and our commitment to their growth and success remains steadfast.' Addressing nearly 100 business leaders and clients in Cairo, Williams and Belopolsky emphasized that despite ongoing geopolitical headwinds, Egypt is showing early signs of economic stabilization. They noted that the country is currently halfway through an economic adjustment phase, supported by political stability and rising regional opportunities, which together are laying the foundation for renewed momentum. The briefings also served as a forum for participants to exchange perspectives on navigating the shifting global and regional landscape. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
3 days ago
- Business
- Zawya
Egypt's economic reset: Signs of stabilization, path to sustainable growth
Simon Williams, HSBC's Chief Economist for Central & Eastern Europe, the Middle East and Africa (CEEMEA), and Helen Belopolsky, HSBC's Global Head of Geopolitical Risk, recently shared their outlook on Egypt's economic trajectory at an exclusive client event held at HSBC Egypt's Head Office in Cairo. Addressing an audience of nearly 100 business leaders and stakeholders, they discussed Egypt's evolving economic landscape amid regional and global uncertainties. Despite persistent geopolitical challenges, the experts pointed to clear signs of stabilization and emerging opportunities that could accelerate Egypt's economic rebound. 'Inflation is stabilizing, the currency is holding, the budget deficit is easing, and interest rates are beginning to fall,' said Simon Williams. 'These are strong indicators that Egypt's economic rebalancing is well underway. However, continued policy discipline will be critical to sustaining this progress—particularly as revenues from the Suez Canal and the energy sector come under pressure and geopolitical risks remain unresolved.' Helen Belopolsky emphasized the broader context of global volatility, stating: 'As international dynamics continue to shift, adaptability becomes essential. Egypt's ongoing reform programme places it in a strong position to benefit from new regional and global opportunities.' Todd Wilcox, Deputy Chairperson and CEO of HSBC Egypt, said: 'Egypt's fundamentals are evolving. Liquidity is improving, trade patterns are changing, and the country is gaining appeal as a regional manufacturing hub. This could drive export growth and reduce long-term foreign currency risk. For over four decades, HSBC has supported businesses in Egypt, and our commitment remains as strong as ever.' The event fostered valuable dialogue on navigating today's complex economic environment, reinforcing HSBC's role as a trusted advisor and partner in Egypt's growth journey. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. ( Daily News Egypt
Bloomberg
5 days ago
- Business
- Bloomberg
US Futures Slip on Trump Tariffs, Crude Surges
Asian markets are poised for a cautious open after US President Donald Trump said he would double tariffs on steel and aluminum imports. Oil climbed around 2% as a further supply boost vied with heightened geopolitical risk. US equity futures slipped in early trading following Trump's announcement on Friday in the US, while Asian contracts point to a soft start when markets reopen. Crude gained after OPEC+ agreed to lift output by 411,000 barrels a day, and following an escalation in Ukraine's attacks on Russia.
