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Conditions in Egypt’s private sector slightly improve as inflation eases
A slowdown in input cost inflation saw Egypt’s non-oil private sector growth creep closer to stablization in December, IHS Markit revealed.
The country’s Purchasing Managers’ Index ticked up to 49 in December, up from 48.7 in the…
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Oil prices edge higher ahead of OPEC+ output policy meeting
Oil prices rose on Tuesday as investors embraced expectations that oil producers will add supply at a meeting on Tuesday as a sign that fuel demand remains robust despite the spread of the omicron variant of COVID-19.
Brent crude futures…
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Jet maker Safran plans 12,000 hires in 2022 as air traffic recovers
Jet engine maker Safran believes the worst of the crisis in aviation caused by COVID-19 is over, and plans to hire 12,000 people worldwide this year to build its capacity back up, its chief executive told a French newspaper.
Safran is…
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China Evergrande shares halted, set to release ‘inside information’
China Evergrande Group shares have been suspended from trading on Monday pending the release of “inside information,” the embattled property developer said without elaborating.
Evergrande, the world’s most indebted developer, is…
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Egypt mulls IPO of $7bn power plants built with Siemens
Egypt is mulling the possible initial public offering of its joint project with Siemens known as Egypt Megaproject, the country’s largest power plants.
“This offering is one of the most important projects in line with the objectives of…
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Russian annual oil output recovers in 2021 after slump
Russia’s annual oil production rose by more than 2 percent last year thanks to the easing of output cuts by the OPEC+ group of leading oil producers after a pandemic-induced decline in 2020, data showed on Sunday.
Russian oil and gas…
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The European Union will grant a “green” card to nuclear energy
The Financial Times said that the European Union wants to give nuclear energy "green", as well as natural gas.
According to the newspaper's data, "the European Commission has paved the way for investment in new nuclear power plants for…
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Twenty years after the advent of the euro
In the seventies of the last century, the idea of the European currency emerged to be used as a tool for integration, facilitating commercial transactions and competing with the dollar.
On this day, twenty years ago, ATMs distributed…
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OPEC+ likely to stick to existing oil production policy at Jan. 4 meeting
OPEC and its allies will probably stick to their existing policy of modest monthly increases in oil output at a meeting next week, four sources said, as demand concerns raised by the omicron coronavirus variant ease and oil prices recover,…
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Samsung, Micron warn China’s Xian lockdown could disrupt memory chip manufacturing
Samsung Electronics and Micron Technology, two of the world's largest memory chip makers, warned that strict COVID-19 curbs in the Chinese city of Xian could disrupt their chip manufacturing bases in the area.
The lockdown in the city…
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