Egypt’s inflation stays on target after monthly price plunge

Cairo Egypt’s inflation stayed within the central bank’s target range for a second month after the biggest monthly decline in at least over a decade. Consumer prices in urban parts of Egypt slipped 3.4 per cent in December from November, according to data released Thursday by the state statistics agency, CAPMAS. The annual rate slowed […]

US consumer prices post first drop in nine months

WASHINGTON US consumer prices fell for the first time in nine months in December amid a plunge in gasoline prices, but underlying inflation pressures remained firm as rental housing and health care costs rose steadily. Overall, the report from the Labor Department on Friday pointed to moderate inflation, which could support recent statements by Federal […]

Pakistan eyes investment pacts with UAE, Saudi Arabia

ISLAMABAD: Pakistan expects to sign investment agreements with Saudi Arabia and the United Arab Emirates in the coming weeks, the prime minister’s office said, as Islamabad builds on its ties with states that have recently lent it billions of dollars. A memorandum of understanding was expected with Saudi Arabia this month, with an investment framework […]

US recession risk hits six-year high amid trade war, shutdown

Washington: Economists put the risk of a US recession at the highest in more than six years amid mounting dangers from financial markets, a trade war with China and the federal-government shutdown. Analysts surveyed by Bloomberg over the past week see a median 25 per cent chance of a slump in the next 12 months, […]

Ghosn awaits fate but release unlikely

Tokyo: Carlos Ghosn will learn his fate Friday when the maximum detention period for questioning over financial misconduct allegations expires but the former Nissan chairman is unlikely to be released soon. Prosecutors are expected to press formal charges against the 64-year-old auto industry tycoon over allegations of under-declaring his income and aggravated breach of trust, […]