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London Tech Week - Day 1

Christian Horner CBE, CEO, Red Bull Racing speaks during London Tech Week's opening keynote event in on Monday, June 09, 2025 at Olympia in London, UK. London Tech Week runs from 09 to 11 June 2025 and aims to bring start-ups, policymakers, investors and business leaders together to engage in discussions on technologies and AI. Photo by Ray Tang/ABACAPRESS.COM

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London Tech Week - Day 1

Christian Horner CBE, CEO, Red Bull Racing speaks during London Tech Week's opening keynote event in on Monday, June 09, 2025 at Olympia in London, UK. London Tech Week runs from 09 to 11 June 2025 and aims to bring start-ups, policymakers, investors and business leaders together to engage in discussions on technologies and AI. Photo by Ray Tang/ABACAPRESS.COM

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London Tech Week - Day 1

Christian Horner CBE, CEO, Red Bull Racing speaks during London Tech Week's opening keynote event in on Monday, June 09, 2025 at Olympia in London, UK. London Tech Week runs from 09 to 11 June 2025 and aims to bring start-ups, policymakers, investors and business leaders together to engage in discussions on technologies and AI. Photo by Ray Tang/ABACAPRESS.COM

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London Tech Week - Day 1

Christian Horner CBE, CEO, Red Bull Racing speaks during London Tech Week's opening keynote event in on Monday, June 09, 2025 at Olympia in London, UK. London Tech Week runs from 09 to 11 June 2025 and aims to bring start-ups, policymakers, investors and business leaders together to engage in discussions on technologies and AI. Photo by Ray Tang/ABACAPRESS.COM

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London Tech Week - Day 1

Christian Horner CBE, CEO, Red Bull Racing speaks during London Tech Week's opening keynote event in on Monday, June 09, 2025 at Olympia in London, UK. London Tech Week runs from 09 to 11 June 2025 and aims to bring start-ups, policymakers, investors and business leaders together to engage in discussions on technologies and AI. Photo by Ray Tang/ABACAPRESS.COM

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Revenues Of Suez Canal Drop By 57.2 pct - Egypt

A ship sails on the Suez Canal in Ismailia Governorate, Egypt, July 13, 2024. The Suez Canal transit receipts decreased by 57.2 percent to register 959.3 million U.S. dollars in the first quarter of 2024, according to a statement released on Monday by the Central Bank of Egypt (CBE). Since the outbreak of the Gaza conflict last October, Yemen's Houthi group has repeatedly attacked ships in the Red Sea that have links to Israel. Photo by Ahmed Gomaa/Xinhua/ABACAPRESS.COM

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Revenues Of Suez Canal Drop By 57.2 pct - Egypt

A ship sails on the Suez Canal in Ismailia Governorate, Egypt, July 13, 2024. The Suez Canal transit receipts decreased by 57.2 percent to register 959.3 million U.S. dollars in the first quarter of 2024, according to a statement released on Monday by the Central Bank of Egypt (CBE). Since the outbreak of the Gaza conflict last October, Yemen's Houthi group has repeatedly attacked ships in the Red Sea that have links to Israel. Photo by Ahmed Gomaa/Xinhua/ABACAPRESS.COM

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Revenues Of Suez Canal Drop By 57.2 pct - Egypt

A ship sails on the Suez Canal in Ismailia Governorate, Egypt, July 13, 2024. The Suez Canal transit receipts decreased by 57.2 percent to register 959.3 million U.S. dollars in the first quarter of 2024, according to a statement released on Monday by the Central Bank of Egypt (CBE). Since the outbreak of the Gaza conflict last October, Yemen's Houthi group has repeatedly attacked ships in the Red Sea that have links to Israel. Photo by Ahmed Gomaa/Xinhua/ABACAPRESS.COM

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Revenues Of Suez Canal Drop By 57.2 pct - Egypt

A ship sails on the Suez Canal in Ismailia Governorate, Egypt, July 13, 2024. The Suez Canal transit receipts decreased by 57.2 percent to register 959.3 million U.S. dollars in the first quarter of 2024, according to a statement released on Monday by the Central Bank of Egypt (CBE). Since the outbreak of the Gaza conflict last October, Yemen's Houthi group has repeatedly attacked ships in the Red Sea that have links to Israel. Photo by Ahmed Gomaa/Xinhua/ABACAPRESS.COM

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Egypt's central bank raises interest rates by 600 bps

STORY: Egypt's central bank raises interest rates by 600 bps SHOOTING TIME: earlier footage DATELINE: March 7, 2024 LENGTH: 00:00:57 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the Central Bank of Egypt 2. various of an accountant counting banknotes 3. various of the National Bank of Egypt 4. various of Banque Misr STORYLINE: The Central Bank of Egypt (CBE) raised its interest rates by 600 basis points (bps) on Wednesday and said it would allow the exchange rate to be determined by the market in a bid to ensure a smooth transition to a flexible inflation targeting regime. In a statement, the central bank raised the overnight lending rate to 28.25 percent, its overnight deposit rate to 27.25 percent, and the rate of the main operation to 27.75 percent. The CBE decided to accelerate the monetary tightening process in order to fast-track the disinflation path and ensure a decline in underlying inflation. Egypt's annual inflation figures, despite recent declines, are expected to remai

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EGYPT-CAIRO-CENTRAL BANK-INTEREST RATE-INCREASE

(240306) -- CAIRO, March 6, 2024 (Xinhua) -- This photo taken on March 6, 2024 shows U.S. dollar and Egyptian pound notes in Cairo, Egypt. The Central Bank of Egypt (CBE) raised its interest rates by 600 basis points (bps) on Wednesday and said it would allow the exchange rate to be determined by the market in a bid to ensure a smooth transition to a flexible inflation targeting regime. (Xinhua/Sui Xiankai)

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EGYPT-CAIRO-CENTRAL BANK-INTEREST RATE-INCREASE

(240306) -- CAIRO, March 6, 2024 (Xinhua) -- A man walks out of an exchange office in Cairo, Egypt, on March 6, 2024. The Central Bank of Egypt (CBE) raised its interest rates by 600 basis points (bps) on Wednesday and said it would allow the exchange rate to be determined by the market in a bid to ensure a smooth transition to a flexible inflation targeting regime. (Xinhua/Ahmed Gomaa)

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EGYPT-CAIRO-CENTRAL BANK-INTEREST RATE-INCREASE

(240306) -- CAIRO, March 6, 2024 (Xinhua) -- This photo taken on March 6, 2024 shows Egyptian pound notes in Cairo, Egypt. The Central Bank of Egypt (CBE) raised its interest rates by 600 basis points (bps) on Wednesday and said it would allow the exchange rate to be determined by the market in a bid to ensure a smooth transition to a flexible inflation targeting regime. (Xinhua/Sui Xiankai)

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EGYPT-CAIRO-CENTRAL BANK-INTEREST RATE-INCREASE

(240306) -- CAIRO, March 6, 2024 (Xinhua) -- This photo taken on March 6, 2024 shows the Central Bank of Egypt (CBE) building in Cairo, Egypt. The CBE raised its interest rates by 600 basis points (bps) on Wednesday and said it would allow the exchange rate to be determined by the market in a bid to ensure a smooth transition to a flexible inflation targeting regime. (Xinhua/Ahmed Gomaa)

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Egypt's central bank issues 50 bln EGP in T-bills

STORY: Egypt's central bank issues 50 bln EGP in T-bills SHOOTING TIME: file DATELINE: March 4, 2024 LENGTH: 00:00:45 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of Egypt's Finance Ministry and the minister 2. various of Egypt's central bank 3. various of the Egyptian banknotes STORYLINE: The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, issued treasury bills (T-bills) at a total value of EGP 50 billion through two offerings on Sunday. With a tenor of 91 days, the first tranche was valued at about EGP 25 billion, according to official data. The second offering stood at EGP 25 billion and will mature in 273 days. In early February, the Central Bank of Egypt raised the key interest rates by two percent. Accordingly, the overnight deposit rate, the overnight lending rate, and the main operation rate were raised to 21.25 percent, 22.25 percent, and 21.75 percent, respectively. In addition, the discount rate was raised by 200 basis points to 21.75 percent. The decision has b

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Egypt's central bank raises interest rates by 200 bps to ease inflation

STORY: Egypt's central bank raises interest rates by 200 bps to ease inflation SHOOTING TIME: Feb. 1, 2024 DATELINE: Feb. 2, 2024 LENGTH: 00:00:54 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the Central Bank of Egypt 2. various of an accountant counting Egyptian banknotes 3. various of a market STORYLINE: The Central Bank of Egypt (CBE) raised its overnight interest rates by 200 basis points (bps) on Thursday over uncertainty surrounding the inflation outlook. The rate hike brings the lending rate to 22.25 percent and the deposit rate to 21.25 percent. "Widespread inflationary pressures remain elevated, continuing to impact pricing and consumption behaviors," the bank said in a statement. Egypt's annual headline and core inflation continued to decelerate, recording 33.7 percent and 34.2 percent in December 2023. However, geopolitical uncertainty and ongoing maritime trade disruptions continue to raise domestic and global inflationary pressures. The meeting came amid the co

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Egypt's annual headline inflation eases in December

STORY: Egypt's annual headline inflation eases in December SHOOTING TIME: Archive DATELINE: Jan. 11, 2024 LENGTH: 00:01:05 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of CAPMAS 2. various of the Nile River (in Cairo) 3. various of a supermarket 4. various of open-air market selling vegetables 5. various of shops selling meat and poultry STORYLINE: The Central Agency for Public Mobilization and Statistics (CAPMAS) said on Wednesday that Egypt's annual headline inflation decelerated to 35.2 percent in December, down from 36.4 percent in November. However, December's inflation rate remains significantly higher than the 21.9 percent recorded in December 2022. According to the state-owned newspaper al Ahram, the latest inflation reading surpasses the target set by the Central Bank of Egypt (CBE), which aims to keep inflation within 7 percent (±2 percent) by the end of 2024. CAPMAS attributed the decline in December's inflation to a 1.7 percent decrease in the prices of meat and poult

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Egypt's central bank issues 47.5 bln EGP in T-bills

STORY: Egypt's central bank issues 47.5 bln EGP in T-bills SHOOTING TIME: Earlier footage DATELINE: Nov. 13, 2023 LENGTH: 00:00:45 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the Egyptian Ministry of Finance 2. various of the Central Bank of Egypt STORYLINE: The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, issued treasury bills (T-bills) at a total value of EGP 47.5 billion through two offerings on Sunday. With a tenor of 91 days until Feb. 13, 2024, the first tranche was valued at EGP 22.5 billion, according to official data. The second offering stood at EGP 25 billion and will mature in 273 days on Aug. 13 next year. On Nov. 9, 2023, the Central Bank of Egypt auctioned T-bills worth EGP 46.5 billion through two tranches. Banks operating in the Egyptian market are the largest investors in the treasury bills and bonds regularly offered by the government to cover the state's general budget deficit. Xinhua News Agency correspondents reporting from Cairo. (

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Egypt's central bank eases restrictions on credit card use abroad

STORY: Egypt's central bank eases restrictions on credit card use abroad DATELINE: Oct. 27, 2023 LENGTH: 00:01:08 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the Central Bank of Egypt 2. various of counting the banknotes 3. various of an Egyptian airport STORYLINE: The Central Bank of Egypt (CBE) announced on Thursday measures to ease the restrictions on credit card usage abroad, allowing clients to use their cards without limits on hard currency withdrawals abroad. The CBE explained the action comes in response to the complaints of clients on the limits of hard currency withdrawals before traveling abroad. In a bid to hedge against the severe hard currency shortage in the local market, on Oct. 17, the CBE set restrictions to limit credit card use for transactions in foreign currencies abroad amid concerns of misuse. Xinhua News Agency correspondents reporting from Cairo. (XHTV)

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Egypt, UAE sign currency swap agreement

STORY: Egypt, UAE sign currency swap agreement DATELINE: Sept. 29, 2023 LENGTH: 00:00:47 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various shots of the Central Bank of Egypt 2. various shots of an accountant counting banknotes 3. various exterior shots of Misr Banque 4. various exterior shots of the National Bank of Egypt STORYLINE: The central banks of Egypt and the United Arab Emirates (UAE) signed on Thursday a currency swap deal, agreeing to exchange up to 42 billion Egyptian pounds (about 1.36 billion U.S. dollars) and 5 billion UAE dirhams at nominal value. The agreement comes within the framework of strengthening relations between Egypt and the UAE at all levels and contributes to increasing their trade volume, a statement from the Central Bank of Egypt (CBE) quoted the bank's governor Hassan Abdallah as saying. He noted that the deal also serves as a cornerstone for joint financial cooperation between the two sides. UAE Central Bank Governor Khaled Mohamed Balama said the agreement

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Egypt's central bank keeps interest rates unchanged

STORY: Egypt's central bank keeps interest rates unchanged DATELINE: Sept. 22, 2023 LENGTH: 00:00:57 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the Central Bank of Egypt 2. various of an accountant counting banknotes 3. various of the National Bank of Egypt 4. various of Banque Misr STORYLINE: The Central Bank of Egypt (CBE) decided Thursday to maintain interest rates at current levels. During its meeting, the CBE's Monetary Policy Committee (MPC) kept the overnight deposit rate, overnight lending rate and the rate of the main operation at 19.25 percent, 20.25 percent and 19.75 percent, respectively. The discount rate remained at 19.75 percent. According to Egypt's Central Agency for Public Mobilization and Statistics, the country's year-on-year headline inflation hit a record high of 39.7 percent in August, compared to 38.2 percent in July and 15.3 percent in August 2022. In early August, the CBE raised the interest rates by 100 basis points, or 1 percent, in a bid to contain high inflat

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French And Uruguayan Presidents Watch France v Uruguay

French President Emmanuel Macron, Uruguayan counterpart Luis Lacalle Pou and Sir Bill Beaumont CBE, Chairperson of World Rugby attend the Rugby World Cup France 2023 match between France and Uruguay at Stade Pierre Mauroy on September 14, 2023 in Lille, France. Photo by Laurent Zabulon/ABACAPRESS.COM

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French And Uruguayan Presidents Watch France v Uruguay

French President Emmanuel Macron, Uruguayan counterpart Luis Lacalle Pou and Sir Bill Beaumont CBE, Chairperson of World Rugby attend the Rugby World Cup France 2023 match between France and Uruguay at Stade Pierre Mauroy on September 14, 2023 in Lille, France. Photo by Laurent Zabulon/ABACAPRESS.COM

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French And Uruguayan Presidents Watch France v Uruguay

French President Emmanuel Macron, Uruguayan counterpart Luis Lacalle Pou and Sir Bill Beaumont CBE, Chairperson of World Rugby attend the Rugby World Cup France 2023 match between France and Uruguay at Stade Pierre Mauroy on September 14, 2023 in Lille, France. Photo by Laurent Zabulon/ABACAPRESS.COM

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French And Uruguayan Presidents Watch France v Uruguay

French President Emmanuel Macron, Uruguayan counterpart Luis Lacalle Pou and Sir Bill Beaumont CBE, Chairperson of World Rugby attend the Rugby World Cup France 2023 match between France and Uruguay at Stade Pierre Mauroy on September 14, 2023 in Lille, France. Photo by Laurent Zabulon/ABACAPRESS.COM

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French And Uruguayan Presidents Watch France v Uruguay

French President Emmanuel Macron, Uruguayan counterpart Luis Lacalle Pou and Sir Bill Beaumont CBE, Chairperson of World Rugby attend the Rugby World Cup France 2023 match between France and Uruguay at Stade Pierre Mauroy on September 14, 2023 in Lille, France. Photo by Laurent Zabulon/ABACAPRESS.COM

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French And Uruguayan Presidents Watch France v Uruguay

French President Emmanuel Macron, Uruguayan counterpart Luis Lacalle Pou and Sir Bill Beaumont CBE, Chairperson of World Rugby attend the Rugby World Cup France 2023 match between France and Uruguay at Stade Pierre Mauroy on September 14, 2023 in Lille, France. Photo by Laurent Zabulon/ABACAPRESS.COM

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French And Uruguayan Presidents Watch France v Uruguay

French President Emmanuel Macron, Uruguayan counterpart Luis Lacalle Pou and Sir Bill Beaumont CBE, Chairperson of World Rugby attend the Rugby World Cup France 2023 match between France and Uruguay at Stade Pierre Mauroy on September 14, 2023 in Lille, France. Photo by Laurent Zabulon/ABACAPRESS.COM

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French And Uruguayan Presidents Watch France v Uruguay

French President Emmanuel Macron, Uruguayan counterpart Luis Lacalle Pou and Sir Bill Beaumont CBE, Chairperson of World Rugby attend the Rugby World Cup France 2023 match between France and Uruguay at Stade Pierre Mauroy on September 14, 2023 in Lille, France. Photo by Laurent Zabulon/ABACAPRESS.COM

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French And Uruguayan Presidents Watch France v Uruguay

French President Emmanuel Macron, Uruguayan counterpart Luis Lacalle Pou and Sir Bill Beaumont CBE, Chairperson of World Rugby attend the Rugby World Cup France 2023 match between France and Uruguay at Stade Pierre Mauroy on September 14, 2023 in Lille, France. Photo by Laurent Zabulon/ABACAPRESS.COM

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French And Uruguayan Presidents Watch France v Uruguay

French President Emmanuel Macron, Uruguayan counterpart Luis Lacalle Pou and Sir Bill Beaumont CBE, Chairperson of World Rugby attend the Rugby World Cup France 2023 match between France and Uruguay at Stade Pierre Mauroy on September 14, 2023 in Lille, France. Photo by Laurent Zabulon/ABACAPRESS.COM

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French And Uruguayan Presidents Watch France v Uruguay

French President Emmanuel Macron, Uruguayan counterpart Luis Lacalle Pou and Sir Bill Beaumont CBE, Chairperson of World Rugby attend the Rugby World Cup France 2023 match between France and Uruguay at Stade Pierre Mauroy on September 14, 2023 in Lille, France. Photo by Laurent Zabulon/ABACAPRESS.COM

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French And Uruguayan Presidents Watch France v Uruguay

French President Emmanuel Macron, Uruguayan counterpart Luis Lacalle Pou and Sir Bill Beaumont CBE, Chairperson of World Rugby attend the Rugby World Cup France 2023 match between France and Uruguay at Stade Pierre Mauroy on September 14, 2023 in Lille, France. Photo by Laurent Zabulon/ABACAPRESS.COM

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French And Uruguayan Presidents Watch France v Uruguay

French President Emmanuel Macron, Uruguayan counterpart Luis Lacalle Pou and Sir Bill Beaumont CBE, Chairperson of World Rugby attend the Rugby World Cup France 2023 match between France and Uruguay at Stade Pierre Mauroy on September 14, 2023 in Lille, France. Photo by Laurent Zabulon/ABACAPRESS.COM

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French And Uruguayan Presidents Watch France v Uruguay

French President Emmanuel Macron, Uruguayan counterpart Luis Lacalle Pou and Sir Bill Beaumont CBE, Chairperson of World Rugby attend the Rugby World Cup France 2023 match between France and Uruguay at Stade Pierre Mauroy on September 14, 2023 in Lille, France. Photo by Laurent Zabulon/ABACAPRESS.COM

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French And Uruguayan Presidents Watch France v Uruguay

French President Emmanuel Macron, Uruguayan counterpart Luis Lacalle Pou and Sir Bill Beaumont CBE, Chairperson of World Rugby attend the Rugby World Cup France 2023 match between France and Uruguay at Stade Pierre Mauroy on September 14, 2023 in Lille, France. Photo by Laurent Zabulon/ABACAPRESS.COM

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French And Uruguayan Presidents Watch France v Uruguay

French President Emmanuel Macron, Uruguayan counterpart Luis Lacalle Pou and Sir Bill Beaumont CBE, Chairperson of World Rugby attend the Rugby World Cup France 2023 match between France and Uruguay at Stade Pierre Mauroy on September 14, 2023 in Lille, France. Photo by Laurent Zabulon/ABACAPRESS.COM

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French And Uruguayan Presidents Watch France v Uruguay

French President Emmanuel Macron, Uruguayan counterpart Luis Lacalle Pou and Sir Bill Beaumont CBE, Chairperson of World Rugby attend the Rugby World Cup France 2023 match between France and Uruguay at Stade Pierre Mauroy on September 14, 2023 in Lille, France. Photo by Laurent Zabulon/ABACAPRESS.COM

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French And Uruguayan Presidents Watch France v Uruguay

French President Emmanuel Macron, Uruguayan counterpart Luis Lacalle Pou and Sir Bill Beaumont CBE, Chairperson of World Rugby attend the Rugby World Cup France 2023 match between France and Uruguay at Stade Pierre Mauroy on September 14, 2023 in Lille, France. Photo by Laurent Zabulon/ABACAPRESS.COM

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French And Uruguayan Presidents Watch France v Uruguay

French President Emmanuel Macron, Uruguayan counterpart Luis Lacalle Pou and Sir Bill Beaumont CBE, Chairperson of World Rugby attend the Rugby World Cup France 2023 match between France and Uruguay at Stade Pierre Mauroy on September 14, 2023 in Lille, France. Photo by Laurent Zabulon/ABACAPRESS.COM

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French And Uruguayan Presidents Watch France v Uruguay

French President Emmanuel Macron, Uruguayan counterpart Luis Lacalle Pou and Sir Bill Beaumont CBE, Chairperson of World Rugby attend the Rugby World Cup France 2023 match between France and Uruguay at Stade Pierre Mauroy on September 14, 2023 in Lille, France. Photo by Laurent Zabulon/ABACAPRESS.COM

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French And Uruguayan Presidents Watch France v Uruguay

French President Emmanuel Macron and Sir Bill Beaumont CBE, Chairperson of World Rugby attend the Rugby World Cup France 2023 match between France and Uruguay at Stade Pierre Mauroy on September 14, 2023 in Lille, France. Photo by Laurent Zabulon/ABACAPRESS.COM

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French And Uruguayan Presidents Watch France v Uruguay

French President Emmanuel Macron, Uruguayan counterpart Luis Lacalle Pou and Sir Bill Beaumont CBE, Chairperson of World Rugby attend the Rugby World Cup France 2023 match between France and Uruguay at Stade Pierre Mauroy on September 14, 2023 in Lille, France. Photo by Laurent Zabulon/ABACAPRESS.COM

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French And Uruguayan Presidents Watch France v Uruguay

French President Emmanuel Macron, Uruguayan counterpart Luis Lacalle Pou and Sir Bill Beaumont CBE, Chairperson of World Rugby attend the Rugby World Cup France 2023 match between France and Uruguay at Stade Pierre Mauroy on September 14, 2023 in Lille, France. Photo by Laurent Zabulon/ABACAPRESS.COM

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French And Uruguayan Presidents Watch France v Uruguay

French President Emmanuel Macron, Uruguayan counterpart Luis Lacalle Pou and Sir Bill Beaumont CBE, Chairperson of World Rugby attend the Rugby World Cup France 2023 match between France and Uruguay at Stade Pierre Mauroy on September 14, 2023 in Lille, France. Photo by Laurent Zabulon/ABACAPRESS.COM

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Egypt's inflation hits record 39.7 pct

STORY: Egypt's inflation hits record 39.7 pct DATELINE: Sept. 11, 2023 LENGTH: 00:01:20 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of markets and customers in Cairo 2. various of restaurants in Cairo 3. various of goods in store 4. various of streets in Cairo STORYLINE: Egypt's year-on-year headline inflation hit a record high of 39.7 percent in August, compared to 38.2 percent in July and 15.3 percent in August 2022, data from the country's official statistics authority showed on Sunday. According to Egypt's Central Agency for Public Mobilization and Statistics, the prices of food and beverages surged by 71.9 percent, alcoholics and tobacco by 57.6 percent, restaurant and hotel services by 49.5 percent, and furniture and household appliances by 42 percent in the past 12 months. Egypt has been struggling to curb the inflation rates that have been rising over the past few years, amid local currency depreciation and foreign currency shortage. In early August, the Central Bank of Egypt (CBE)

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Egypt's net int'l reserves rises in August

STORY: Egypt's net int'l reserves rises in August DATELINE: Sept. 8, 2023 LENGTH: 0:01:07 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the River Nile in Cairo 2. various of the Central Bank of Egypt 3. various of an accountant counting banknotes 4. various of the Central Bank of Egypt 5. various of banks in Egypt STORYLINE: The Central Bank of Egypt (CBE) said on Thursday the country's net foreign reserves rose to 34.928 billion U.S. dollars in August 2023 from 34.88 billion dollars in the previous month. Egypt's foreign reserves consist of a basket of major international currencies, including the U.S. dollar, the euro, the pound sterling, the Japanese yen, and the Chinese yuan. The Egyptian government seeks to collect 1.5 billion dollars in external financing before the end of 2023, Minister of Finance Mohamed Maait stated on Thursday. The financing plan includes issuing 1 billion worth of yen and yuan bonds, Maait added. Xinhua News Agency correspondents reporting from Cairo. (XHTV)

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Egypt raises interest rates by 1 pct to curb inflation

STORY: Egypt raises interest rates by 1 pct to curb inflation DATELINE: Aug. 4, 2023 LENGTH: 00:00:57 LOCATION: Cairo CATEGORY: POLITICS/ECONOMY SHOTLIST: 1. File footage of the Central Bank of Egypt 2. File footage of an accountant counting banknotes 3. File footage of the National Bank of Egypt 4. File footage of Banque Misr STORYLINE: Egypt decided to raise the interest rates by 100 basis points in a bid to contain high inflation, the Central Bank of Egypt (CBE) announced on Thursday. The deposit and lending rates were raised to 19.25 percent and 20.25 percent, respectively, while the rate of the main operation and the discount rate were increased to 19.75 percent, the CBE said in a statement after a meeting of the Monetary Policy Committee. Egypt's annual urban headline inflation increased to 35.7 percent in June, up from 32.7 percent in May, and the annual core inflation climbed to 41 percent in June from 40.3 percent in May, the CBE noted. The CBE said a rate hike of 100 bps is warranted for easin

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Egypt adopts new bank rules to promote financial inclusion

STORY: Egypt adopts new bank rules to promote financial inclusion DATELINE: May 22, 2023 LENGTH: 00:01:00 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the Central Bank of Egypt 2. various of banks and ATMs in Egypt STORYLINE: The Central Bank of Egypt (CBE) has introduced a new initiative that allows banks to open accounts without requiring a minimum deposit, Egypt's Al-Ahram newspaper reported on Sunday. In addition, the CBE is promoting the utilization of bank electronic wallets. According to the data of the CBE, the number of Egyptians holding Egypt Post accounts, mobile phone wallets, prepaid cards, and bank accounts combined has reached 42.3 million. This figure represents 64.8 percent of the Egyptian population above the age of 16, which amounts to 65.4 million citizens. The CBE reported last month a significant improvement in financial inclusion rates, which saw an 147 percent increase between 2016 and 2022. In 2022, the CBE launched its financial inclusion strategy for the p

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Egypt's central bank auctions 40 bln EGP in T-bills to fund budget deficit

STORY: Egypt's central bank auctions 40 bln EGP in T-bills to fund budget deficit DATELINE: April 10, 2023 LENGTH: 00:00:45 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the Egyptian Ministry of Finance 2. various of the Central Bank of Egypt 3. various of Egyptian banknotes STORYLINE: The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, auctioned treasury bills (T-bills) worth 40 billion Egyptian pounds (EGP) (about 1.3 billion U.S. dollars) on Sunday, divided into two issues. The first issue amounts to 23 billion EGP, with a 91-day tenor that matures on July 11, while the second issue totals 17 billion EGP, with a 273-day tenor, maturing on January 9, 2024. This auction follows the CBE's previous auction of T-bills on April 4 with a total value of 38 billion EGP, including 91-day, 182-day, 273-day, and 364-day tenors. The accepted bids amounted to 4.97 billion EGP, with an average yield of 22.3 percent. The CBE typically issues T-bills to fund the budget deficit. The cou