A contraction in Egyptian non-oil private sector activity entered its 26th straight month as high inflation and a continued shortage of foreign currency weighed on business, a survey showed on Sunday.
Headline inflation in Egypt surged to a five-year high of 21.3% in December, the state statistics organisationThe increased inflationary pressures and the impact on demand led to a sharp contraction in output across the non-oil sector in January, S&P Global said.
The sub-index for output slid to 42.3 in January from 44.8 in December and that for new orders to 42.6 from 45.5.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Report: Egyptian Lawmakers Hail Parliament's Endorsement of Pact to Join BRICS Bank – Economics Bitcoin NewsMohamed Abdel-Hamid said joining this institution enables the country to get the bank’s support in areas such as health, infrastructure and telecommunications.imf usdollar
Read more »
Egypt denies agreement with Israeli company for Suez CanalThe statement came amid news circulated on social media platforms claiming that Egypt had contracted an Israeli company to manage the waterway’s services through a 99-year concession contract.
Read more »
Grammy predictions: AP writers debate who’ll win on Sunday | amNewYorkThe Beyhive is all abuzz over the possibility that Beyoncé will have a chance to make Grammy history this year, which should make for an exciting awards show
Read more »
Whale Fiesta, a 52-year-old San Pedro standard, set to splash off on SundayThe fiesta at Cabrillo Marine Aquarium will feature a display of life-sized inflatable whales.
Read more »
8 Grammys storylines and reasons to watch on SundayWhen the Grammys come to us live Sunday from Los Angeles, the ladies once again are likely to dominate. Here are some storylines and reasons to watch.
Read more »
How to have the best Sunday in L.A., according to afterparty king Joel Kim BoosterJoel Kim Booster's ideal Sunday Funday involves breakfast burritos, Ginger Rogers Beach, Chinese food, El Cid and an afterparty at his place.
Read more »