Egypt: the reshuffle of the cabinet at the point of the economic crisis | news
Egyptian President Abdel Fattah el-Sissi announced a cabinet reshuffle on Saturday to improve his government’s performance as it faces major economic challenges. RELATED: The Gaza faction reaches a ceasefire negotiated by Egypt with Israel Mahmoud Kamal Esmat was appointed to the portfolio of public enterprises as Egypt seeks to attract investment in state-owned enterprises and generate funds. El-Sisi made no changes to the positions of finance, energy, defense or foreign affairs minister. The Egyptian parliament approved the reshuffle of the cabinet made up of 13 ministers on Saturday. The move came a day after President Abdel-Fattah al-Sisi asked the assembly…
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Binance CEO Says Exchange Recovered $450M From Curve Finance Attack – Bitcoin News
Following the recent Curve Finance attack, Binance CEO Changpeng Zhao announced that the exchange had recovered $450 million from the hackers. Decentralized finance platform (defi) Curve saw roughly $570 million taken from the app on August 9. Binance Chief Says Exchange Freezes 83% Of Curve Funding Hack Funds, Domain Provider Says Exploit Was DNS Cache Poisoning Four days ago, the crypto community learned that the front end of Curve Finance had been exploited. Curve fixed the situation, but $570 million was removed from the defi protocol. The attackers, however, decided to send the funds to crypto exchanges. Binance CEO Changpeng…
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Stocks rise, S&P 500 looks to snap 7-week losing streak
US stocks jumped on Friday, with major indexes ending weeks of losses after a series of more upbeat corporate results at least temporarily offset fears of a sharp economic downturn. [Click here to read what’s moving markets on Tuesday, May 31] The S&P 500 rallied at the close, gaining 2.5% to end at 4,158.24. The blue-chip index ended a seven-week losing streak and posted its best week since November 2020, rising more than 6.5% since last Friday. The S&P 500 also erased its May-to-date losses. The Dow Jones Industrial Average rose 576 points, or 1.8%, to close at 33,212.96 on…
Read More »Stocks open lower after shock July jobs report
Stocks ended mixed on Friday as bond yields soared after a stronger-than-expected July jobs report. At the closing bell, the tech-heavy Nasdaq was the day’s biggest laggard among equity indexes, down 0.5 percent, while the S&P 500 fell 0.2 percent and the Dow rose 0.2%. In July, the US economy added 528,000 jobs as the unemployment rate fell to 3.5%. Economists had expected job growth to come in at just 250,000 last month. In the bond market, the story that July jobs data will lead to further rate hikes has been a little easier to see, with the yield on…
Read More »Sensex, Nifty50 turn flat as financials help par market losses – Hindalco reports record Pat
Market nearby | Sensex and Nifty50 near flat line Here are some highlights: –ICICI Bank, Reliance, L&T help Nifty maintain 17,500 — Metal stocks rise after strong Hindalco earnings: Nifty Metal up 1.5 percent –Bharti Airtel gains two percent after mixed results: Brokerages maintain positive views –Apollo Hospitals and Coal India gain two percent ahead of earnings –ONGC falls two percent as crude remains under pressure –Bajaj Finance, NTPC, HCL Tech, Adani Ports are top Nifty losers –Hindalco, Tata Chemicals, City Union Bank and IGL rise after better-than-expected earnings –Balrampur, Motherson, MRF, Granules, Ipca slip after earnings –Market breadth favors…
Read More »U.S. stocks edge lower as traders weigh prospects for rate hikes
Wall Street stocks edged lower on Monday, adding to small losses in the previous session, as a U.S. jobs report fueled expectations of a more aggressive rate hike campaign of interest by the Federal Reserve. The blue-chip S&P 500 and the tech-heavy Nasdaq Composite both fell 0.1%, reversing gains in early trade. Europe’s Stoxx 600 closed 0.7% higher, while Hong Kong’s Hang Seng index fell 0.8%. US government debt rose in price, with the yield on the 10-year Treasury note falling 0.09 percentage points to 2.74%. The policy-sensitive two-year yield fell 0.04 percentage points to 3.21%. The moves came after…
Read More »Anshu Jain, former co-CEO of Deutsche Bank, dies
Anshu Jain, co-CEO of Deutsche Bank, addresses the bank’s annual general meeting in Frankfurt, Germany May 21, 2015. REUTERS/Kai Pfaffenbach Register now for FREE, unlimited access to Reuters.com Sign up Aug 13 (Reuters) – Anshu Jain, a senior financial executive known for helping German lender Deutsche Bank AG ( DBKGn.DE ) take on big Wall Street firms, died overnight on Saturday after a five-year battle against cancer, his family. said He was 59 years old. Jain, who was born in India, spent two decades building Deutsche Bank into one of the best universal banks in the world. He was the…
Read More »This was a good week for inflation numbers, but the big question is whether it can last
Gas station prices are seen in Bethesda, Maryland on August 11, 2022. Mandel Ngan | AFP | Getty Images There was more good news on inflation on Friday, as import prices fell more than expected, bringing much-needed relief to consumers. the report ended a relatively upbeat week for those worried about rising prices, with “relatively” being the operative word, as the US is on pace to import just over $4 trillion of goods and services this year year, according to the latest Economic Office. Analysis data. With Americans already paying huge bills for food, energy and many other items in…
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