Fri, 29 Sep 2023

CAIRO -- Egypt's Monetary Policy Committee (MPC) decided to raise the interest rates of the Central Bank of Egypt (CBE) by 200 basis points in a new bid to contain high inflation, the CBE said on Thursday.

The deposit and lending rates were raised to 18.25 percent and 19.25 percent, respectively, while the rate of the main operation and the discount rate were increased to 18.75 percent, the CBE said in a statement. (Egypt-Interest Rates-Rise)

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CAIRO -- While pushing for a ban on TikTok over claims that China uses the popular app to spy on Americans, the U.S. government itself spies on the world by using tech companies that effectively control the global internet, said a report published on the English news website of Al Jazeera.

The U.S. government allows its intelligence agencies to "carry out warrantless spying" on foreigners' emails, phones and other online communications, said the report published on Tuesday. (U.S.-Spy-World)

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TEHRAN -- Iran's Foreign Ministry said on Thursday the ruling by the International Court of Justice (ICJ) against U.S. "illegal" freezing of Iranian assets is another proof of the "legitimacy" of Tehran's positions and Washington's "wrongful behaviors."

The ministry made the remarks in a statement published on its website, reacting to the ruling issued earlier in the day by the ICJ that Washington had "illegally allowed its courts to freeze Iranian companies' assets" and its order that the United States must pay compensation to Iran, the amount of which will be determined later. (Iran-U.S.-ICJ Ruling Reaction)

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CAIRO -- Egyptian President Abdel-Fattah al-Sisi issued a presidential decree that allows the most populous Arab country to join the New Development Bank (NDB), the official news agency MENA reported on Thursday.

Headquartered in Shanghai, the NDB was established by the BRICS economic group which includes Brazil, Russia, India, China, and South Africa to enhance cooperation in infrastructure and sustainable development. (Egypt-BRICS-Bank)

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