Egypt’s annual urban consumer price inflation fell to 4.2% in July

Month on month inflation increased to 0.4% in July from 0.1% in June. (File/AFP)
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Updated 10 August 2020

Egypt’s annual urban consumer price inflation fell to 4.2% in July

  • Month on month inflation has increased in Egypt over the past month

CAIRO: Egypt’s annual urban consumer price inflation fell to 4.2% in July from 5.6% in June, the central statistics agency CAPMAS said on Monday.
Month on month inflation increased to 0.4% in July from 0.1% in June, the agency said.


10 things you need to know on Tadawul today

Updated 25 min 8 sec ago

10 things you need to know on Tadawul today

Here are a few things you need to know as Saudi stocks start trading on Wednesday.

1) Saudi Aramco customers are unaffected by the terrorist attack at a petroleum products distribution plant in the north of Jeddah, a company official said.

2) The Saudi Arabian Monetary Authority (SAMA) imposed penalties on 30 financial institutions due to violations of “responsible finance principles” for individuals.

3) Saudi Arabian Amiantit Co. signed two agreements to sell its stakes in Moroccan units, generating an accounting profit of SAR 14.16 million ($3.89 million).

4) Saudi Arabia moved beyond the concept of relative food security to achieve self-sufficiency in many sectors such as milk and poultry, according to Almarai Co.’s vice president of corporate affairs Faisal Marzouq Al-Fahadi.

5) Al-Khaleej Training and Education Co. signed a binding 30-day memorandum of understanding with the shareholders of Al-Raqi National Schools Co. to acquire 60% of the latter at SAR 12.82 million.

6) Saudi Reinsurance Company (Saudi Re) signed reinsurance contracts with Probitas Corporate Capital Ltd. with estimated gross written premiums of SAR 177 million.

7) Sadara Basic Services Co. said its parent company, Sadara Chemical Co. (Sadara), met the conditions specified by lenders under the Sadara project financing documents to achieve the project completion date.

8) Abdullah Al Othaim Markets Co. announced the opening of a new store in Al-Kharj, bringing the total number of branches across Saudi Arabia to 248.

9) Arabian Pipes Co. shareholders approved amending some of the company’s bylaws during the extraordinary general meeting.

10) Oil prices rose on Wednesday morning. Brent crude edged up 62 cents to $48.48/bbl, while WTI crude gained 52 cents to $45.43/bbl.

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