Egypt raises interest rates, sets fixed bread prices against global inflationary pressures

**This is a 60-seconds sample of the video. For the full version, please contact us.**

Egypt raises interest rates, sets fixed bread prices against global inflationary pressures

STORY: Egypt raises interest rates, sets fixed bread prices against global inflationary pressures DATELINE: March 22, 2022 LENGTH: 0:01:30 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1 various of the Central Bank of Egypt 2 various of banks in Egypt 3 various of people withdrawing money from bank 4 various of the supermarket STORYLINE: The Egyptian government on Monday introduced new economic measures to absorb shocks from the global inflationary pressures caused by the Russia-Ukraine conflict and lingering COVID-19 pandemic. At a surprise meeting, the Monetary Policy Committee of the Central Bank of Egypt (CBE) decided to raise key interest rates by one percent. This is the first time Egypt has raised rates since 2017. Soaring commodity and energy prices have added strain on the economy of Egypt which targets an inflation rate of 7 percent for the fourth quarter of 2022. According to official statistics, the annual headline inflation in Egypt rose to 10 percent in February from 8 percent in Jan

  • Product Code
  • ILEA000944677
  • Registered date
  • 2022/3/22 00:00:00
  • Credit
  • Xinhua / Kyodo News Images
  • Media source
  • Xinhua News Agency.All Rights Reserved
  • Media size
  • 1920 × 1080 pixel
  • Deployment size
  • 99.30(MB)*
  • Special instruction

*File size when opened in Photoshop, etc.

Similar Images & Videos

    World Bank Group approves new financing for Egypt

    STORY: World Bank Group approves new financing for Egypt SHOOTING TIME: File DATELINE: June 25, 2024 LENGTH: 00:00:46 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of banks in Egypt STORYLINE: The World Bank approved on Monday the provision of 700 million U.S. dollars in financing the Egyptian government, within the framework of the Development Policy Financing (DPF) program, to enhance macroeconomic stability. The DPF program is designed to support the government's efforts to address short-term economic challenges, contribute to strengthening structural reforms, increase the competitiveness of the economy, and improve the business environment in Egypt. Egyptian Minister of International Cooperation Rania Al-Mashat said the Egyptian government pledges to implement ambitious economic and structural reforms, aiming at creating a more competitive economy. Xinhua News Agency correspondents reporting from Cairo. (XHTV)

      Hungary will not participate in NATO efforts in Ukraine: PM Orban

      STORY: Hungary will not participate in NATO efforts in Ukraine: PM Orban SHOOTING TIME: June 12, 2024 DATELINE: June 13, 2024 LENGTH: 00:01:09 LOCATION: Budapest CATEGORY: POLITICS SHOTLIST: 1. SOUNDBITE 1 (Hungarian): VIKTOR ORBAN, Hungarian Prime Minister 2. SOUNDBITE 2 (English): JENS STOLTENBERG, NATO Secretary General 3. SOUNDBITE 3 (English): JENS STOLTENBERG, NATO Secretary General 4. various of the press conference STORYLINE: Hungary will not participate in North Atlantic Treaty Organization (NATO) efforts in Ukraine, Hungarian Prime Minister Viktor Orban said in Budapest on Wednesday. The Hungarian government has received guarantees that in the case of the Russia-Ukraine armed conflict, Hungary would not have to participate in military actions outside NATO's territory, Orban said during a joint press conference with NATO Secretary General Jens Stoltenberg. SOUNDBITE 1 (Hungarian): VIKTOR ORBAN, Hungarian Prime Minister "Hungary will neither contribute money, nor send people to this war, nor w

        U.S. Fed keeps interest rates unchanged at 5.25-5.5 pct as inflation cools

        STORY: U.S. Fed keeps interest rates unchanged at 5.25-5.5 pct as inflation cools SHOOTING TIME: June 12, 2024 DATELINE: June 13, 2024 LENGTH: 00:01:26 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. various of the press conference STORYLINE: The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent as the latest consumer price data shows that inflation seems to be cooling. In a statement after the two-day policy meeting, the Federal Open Market Committee (FOMC), the Fed's policy-setting body, reiterated that the committee does not expect it will be appropriate to reduce the target range "until it has gained greater confidence that inflation is moving sustainably toward 2 percent." In addition, the committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities, the FOMC said. The Fed's announcement came just a few hours after the U.S. Labor Department reported that the

          Egypt, Azerbaijan discuss boosting bilateral relations, regional issues

          STORY: Egypt, Azerbaijan discuss boosting bilateral relations, regional issues SHOOTING TIME: June 8, 2024 DATELINE: June 9, 2024 LENGTH: 0:01:57 LOCATION: Cairo CATEGORY: POLITICS SHOTLIST: 1. various of the Egyptian Presidential palace 2. various of the meeting and the signing ceremony STORYLINE: During a joint press conference with the President of Azerbaijan Ilham Aliyev on Saturday, Egypt's President Abdel Fattah El-Sisi affirmed that the visit is significant, reflecting the two countries' interest in enhancing their bilateral relations in the coming period, based on their historical ties. Both sides confirmed their aspiration to continue working together to strengthen bilateral relations in various fields, discussing coordinating regional and international issues of mutual interest, as well as boosting economic and trade relations by utilizing opportunities available. A signing ceremony of agreements was held in the fields of electrical and renewable energy, economy, information and communication t

            Millions of Australians struggling to make loan repayments: gov't report

            STORY: Millions of Australians struggling to make loan repayments: gov't report SHOOTING TIME: June 4, 2024 DATELINE: June 6, 2024 LENGTH: 0:02:15 LOCATION: Canberra CATEGORY: ECONOMY SHOTLIST: 1. various of banks in Australia 2. various of street views in Australia 3. various of the Parliament House STORYLINE: Millions of Australians have struggled to make debt repayments in the last 12 months, government research has found. The research, which was published by corporate regulator the Australian Securities and Investment Commission (ASIC) on Monday, found that 47 percent of Australian adults with debt -- the equivalent of 5.8 million people -- have struggled to make repayments in the last 12 months. A survey conducted by YouGov on behalf of the ASIC found that cost of living pressures, reduced income, and unexpected expenses were the most common reasons given for financial difficulties. Thirty percent of respondents to the survey said they would not seek hardship assistance from their bank or lend

              Australian minimum wage to rise by 3.75 pct

              STORY: Australian minimum wage to rise by 3.75 pct SHOOTING TIME: June 4, 2024 DATELINE: June 6, 2024 LENGTH: 00:01:31 LOCATION: Canberra CATEGORY: ECONOMY SHOTLIST: 1. various of Fair Work Commission (FWC) office 2. various of Australians in different professions 3. various of the Australian Bureau of Statistics (ABS) building STORYLINE: Australia's minimum wage will rise by 3.75 percent from the start of July, industrial relations tribunal the Fair Work Commission (FWC) ruled on Monday. From July 1, the minimum wage will increase from 23.23 Australian dollars (15.47 U.S. dollars) per hour to 24.10 Australian dollars (16.05 U.S. dollars) per hour, or 915.90 Australian dollars (609.99 U.S. dollars) per week based on a 38-hour week, FWC said. According to the commission, 20.7 percent of the Australian workforce, or approximately 2.6 million people, are paid minimum wage rates. After accounting for flow-on effects, the FWC estimates that the increase to the minimum wage will affect a quarter of a

                Türkiye's annual inflation exceeds 75 pct in May

                STORY: Türkiye's annual inflation exceeds 75 pct in May SHOOTING TIME: June 2-3, 2024/Archives DATELINE: June 4, 2024 LENGTH: 00:01:10 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of people shopping in Istanbul, Türkiye (Shooting date: May 17, 2024) (courtesy of ihlas news agency) 2. various of people at a discount cafe in Samsun, Türkiye (Shooting date: June 2, 2024) (courtesy of ihlas news agency) 3. various of people at a fish bazaar in Düzce, Türkiye (Shooting date: June 3, 2024) (courtesy of ihlas news agency) 4. various of people shopping in Safranbolu, Türkiye (Shooting date: June 2, 2024) (courtesy of ihlas news agency) STORYLINE: Türkiye's annual inflation rate rose to 75.45 percent in May, the highest since November 2022, reaching the peak expected by the government and economists, according to official data released on Monday. Consumer prices rose by 3.37 percent in May, compared to an increase of 3.18 percent in April, as per data from the Turkish Statistical Institute. The highe

                  Tokyo consumer inflation accelerates in May

                  STORY: Tokyo consumer inflation accelerates in May SHOOTING TIME: recent footage DATELINE: June 3, 2024 LENGTH: 00:00:39 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of street views in Tokyo STORYLINE: Core inflation in Tokyo continued to rise in May as utility costs expanded, government data showed. The Tokyo core consumer price index, which excludes volatile fresh food but includes fuel costs, rose 1.9 percent in May from a year earlier, accelerating from a 1.6 percent rise in April, according to the internal affairs ministry. Seen as a leading indicator of nationwide trends in Japan, the Tokyo data released on Friday stood below the Bank of Japan's 2-percent target. The acceleration was largely pushed up by utility costs related to renewable energy promotion, as electricity bills increased for the first time in 16 months by rising 13.1 percent year on year. Meanwhile, prices of food excluding fresh items rose 3.2 percent, unchanged from the previous month. Xinhua News Agency correspondent

                    Egypt's strategic wheat reserve sufficient for 5.3 months: minister

                    STORY: Egypt's strategic wheat reserve sufficient for 5.3 months: minister SHOOTING TIME: Archives DATELINE: May 29, 2024 LENGTH: 00:01:06 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of Egyptian Minister of Supply and Internal Trade Ali Moselhi speaking (File) 2. various of wheat, sugar and oil STORYLINE: Egyptian Supply and Internal Trade Minister Ali Moselhi said on Tuesday that the country's strategic reserve of wheat is enough to last for 5.3 months, while sugar reserves are sufficient until February 2025. The minister added that oil reserves are sufficient for 6.2 months, and rice and pasta for two months. Egypt, the world's largest wheat importer, suffers from global supply chain interruptions and price hikes due to the Russia-Ukraine conflict. The country imports two-thirds of its annual consumption of 18 million tonnes of wheat, according to the state-run Ahram newspaper. Xinhua News Agency correspondents reporting from Cairo. (XHTV)

                      Tokyo stocks close mixed on rising interest rates, positive U.S. futures

                      STORY: Tokyo stocks close mixed on rising interest rates, positive U.S. futures SHOOTING TIME: May 28, 2024 DATELINE: May 29, 2024 LENGTH: 00:01:51 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of street view in Tokyo 2. various of Tokyo Stock Exchange 3. various of securities company STORYLINE: Tokyo stocks closed mixed on Tuesday amid concerns over rising long-term interest rates in Japan, while the market's downside was buoyed by positive U.S. stock futures. Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 44.65 points, or 0.11 percent, from Monday at 38,855.37. The broader Topix index, meanwhile, finished 2.14 points, or 0.08 percent, higher at 2,768.50. Market watchers here noted the yield on the benchmark 10-year Japanese government bond briefly rose 0.015 percentage point from Monday's close to 1.035 percent, its highest level since April 2012, amid speculation that the Bank of Japan is shifting away from monetary easing measures. The Nikk