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Commentator Accuses U.S. of Deliberately Stifling Airline Competition

Sultan Al Qassemi an Emirati commentator accused the United States of trying to rein in air carriers Etihad, Emirates and Qatar Airways from the Gulf through the recent ban on taking large electronics inside the cabin of airplanes. Under new rules, that the U.S. announced Tuesday, passengers from 10 airports in the Middle East and North Africa are not permitted to bring electronics aboard that are bigger than a smartphone when flying to the United States. Airports on that list included Abu Dhabi, Dubai and Doha bases for the three largest carriers... 
 

Sources: Amazon Acquiring Middle East Retailer Souq.com

Sources close to the deal said that e-commerce giant Amazon.com agreed to acquire Souq.com the internet retailer based in Dubai, one of the most well-known names in online shopping in the Middle East. Souq.com sells fashion, consumer electronics, household items and many other goods. It claims on its website it is the largest site for e-commerce in all of the Arab world. For Amazon, buying Souq.com offers a foothold across a region that has seen a rapid expansion of e-commerce thanks to a young, tech-savvy population. The United Arab Emirates, Kuwait... 
 

Electronics Banned in the Cabins on Some Flight from Middle East to U.S.

A U.S. official says that the new ban of some electronics in the cabins of flights from the Middle East and Africa into the U.S. would impact some airlines. Another U.S. official said the ban covers devices that are larger than a mobile handset. An official in aviation said there was a concern related to security of passengers boarding nonstop flights into the U.S. from certain countries. This relates to the screening taking place in some countries related to nonstop flights that are bound for the U.S. The officials added that it is their belief... 
 

Israeli Jets Fired At By Syria Following Airstrikes

Syria has fired missiles at warplanes from Israel that were on a mission to destroy a convoy of weapons destined for Hezbollah the Lebanese militant group that is Iranian backed. That prompted Israel to deploy the missile defense system it has. This incident was a rare military exchange between the pair of hostile neighbors. Military officials from Israel said its military aircraft hit a number of targets inside Syria and when back within airspace that is Israeli controlled a number of anti-aircraft missiles were then launched by Syria toward the... 
 

Kuwait Eyeing Higher Healthcare Fees for Expats

Kuwaiti officials are planning an increase in healthcare fees for expats in their buildup toward a complete segregation of care at hospitals for citizens and expats, said reports from two reliable sources. Sources were cited by the Kuwait Times saying that the process of restricting services at public hospitals to just Kuwaitis would be a gradual one because of the lack of sufficient capacity in private hospital across the country. However, other measures including higher fees for healthcare services as well as the denial of access to a specific... 
 

Bahrain Claims Militant Group Linked to Iran Involved in Attacks

Bahrain over the weekend said it uncovered a militant group of 54 members linked to Iran that is suspected of being involved with the recent security forces attacks including the organization of a January prison break. It was one of the largest operations by Bahrain security forces against a suspected militant group that Bahrain blames for the increase in armed attacks in the kingdom where the Fifth Fleet from the U.S. is based. Tensions have run high in the kingdom since 2016 after local authorities increased their crackdown on dissent, banned... 
 

President Trump Signs Second Travel Ban

On Monday, United States President Donald Trump signed another executive order that bans immigration from six countries that are Muslim-majority. However, the new order exempted Iraq from the previous order and reinstated a temporary ban on refugees from all countries. This latest travel ban arrives just six weeks after the original one signed by Trump caused major chaos in airports around the globe, before federal courts blocked it. The new one removed language in the first one that banned refugees from Syria indefinitely and called for the prioritizing... 
 

Saudi Arabia Might Raise Prices of Domestic Fuel 30%

The government of Saudi Arabia could increase its prices for domestic gasoline by as much as 30% starting in July, said industry sources. This is part of a reform plan by the top exporter of oil in the world to align the prices of fuel in the country, with benchmark global levels. During December of 2015 Saudi raised prices of its 95 octane gas from SAR0.60 per liter to SAR0.90 ($0.24). However, that kept the kingdom amongst the nations with the least expensive gasoline anywhere in the world. The government wants to now increase prices for domestic... 
 

Millions of Saudis Without Medical Insurance

Authorities in Saudi Arabia estimate close to 2.5 million citizens of the kingdom work in the private sector without any medical coverage. The insurance industry in Saudi Arabia, which experienced sharp growth in net income last year, should see even further growth in 2017, showed a new report released this week. However, enforcement of compulsory coverage is key to the growth of the industry, stressed the report. Saudi Arabia has almost 20 million citizens and another 10 million foreign nationals with dependents, making the possibility of insurance... 
 

Sources: Saudi Arabia Wants Oil to Reach $60 During 2017

A source in the oil industry has said that Saudi Arabia wants the price of crude oil to increase to close to $60 per barrel in 2017. That price level is where the heavyweight of OPEC and its allies in the Gulf – Kuwait, Qatar and the United Arab Emirates – believe would be enough to encourage more investment in new oil fields but would not lead to an increase in shale output in the U.S., said the same source. OPEC, Russia and other oil producers pledged in late 2016 to lower production by close to 1.8 million barrels daily staring January 1.... 
 

Aramco IPO Might Push Other States in the GCC to do the Same

The initial public offering of Saud’s Aramco could encourage other Gulf Cooperation Council (GCC) states to publicly list oil assets, said a leading economist in the region. However, the oil behemoth must clear up some uncertainties due to taxation, ownership of crude and OPEC policy. Former Lebanon economy minister Nasser Saidi told an interviewer on Dubai radio that Aramco must address how the business will separate assets and liabilities it has from those the state has. A number of countries could step up across the region such as the UAE said... 
 

PepsiCo Will Open Large Manufacturing Facilities in Saudi Arabia

PepsiCo the global food and beverage conglomerate is planning to open one of its largest ever manufacturing facilities, in the Saudi Arabia city of Jeddah, said one senior official. The SIBCO facility will be opened later in 2017 confirmed the PepsiCo CEO Sanjeev Chadha of its Asia, Middle East and North Africa (AMENA) region. During an interview this week, he said the plant would make the wide portfolio of the company including its carbonated drinks such as Pepsi, Mirinda and Mountain Dew, along with other brands like Gatorade. Chadha said the... 
 

Authorities in Saudi Arabia Authorize Tax Date for Soft Drinks

The Council of Ministers in Saudi Arabia authorized the kingdom’s Finance Minister to establish a date to implement a new tax on all soft drinks, tobacco and other specific items indicated a report released by the Saudi Press Agency. The tax is just part of an initiative Gulf-wide that was proposed at the GCC Supreme Council during 2015 but was just approved by Saudi’s finance ministry late in 2016. No other state in the Gulf has announced when their law will be introduced, but the cabinet in Qatar approved a new draft law during a session last... 
 

Emirates No Longer Offering Seafood Meal in Economy Class

Emirates Airlines the Dubai based air carrier confirmed that its meal option of seafood was removed from its menu for passengers in economy class. The move was communicated to members of the Skyward loyalty program at Emirates and said it follows the airline’s internal review. The statement said that as part of the airline’s continuous review of products and services it provides its customers, it could confirm that it would stop offering its seafood meal option to economy class passengers. A spokesperson for the airline said that it constantly... 
 

Saudi Arabia to Handover as Many as 120,000 New Homes in 2017

The government of Saudi Arabia launched a new housing program that is designed to hand over as many as 120,000 homes to its citizens in 2017. The program, Sakani, is part of the efforts to distribute financial assistance and homes to as many as 280,000 families through the Ministry of Housing in the country. A general supervisor and advisor to the agency, Prince Saud Bin Talal said that the first group of homes would reach 15,560 units. That group includes 5,015 housing plots and government financial support for over 7,700 through its Real Estate... 
 

Iran President to Visit Kuwait and Oman

A top official in Iran said on Tuesday that Gulf Arab states should seize the opportunity that Hassan Rouhani the President of Iran is visiting Kuwait and Oman to improve ties, by warning that a chance of this magnitude passes very quickly. Rouhani is scheduled to visit both Kuwait and Oman Wednesday, which will mark the first visit by Rouhani to the two Gulf States since he took power back in 2013. The six Gulf Cooperation Council Arab member states, in particular Saudi Arabia, have accused Iran of the use of sectarianism as a way to interfere... 
 

Trump to Discuss Middle East Air Carriers with U.S. Airlines

On Thursday, President Donald Trump will meet with the CEOs of the top U.S. airlines and one issue is sure to be a divisive force during the meeting. That issue is what will be done about three Middle East based airlines – Etihad, Emirates and Qatar Airways. Over the last 15 years, the three cash rich carriers based in the Middle East have clawed their way to the front of the global airline market. Of recent, the expansion of the three has created a direct competition with the trio of U.S. top airlines American, United and Delta. The three... 
 

Saudi Cabinet Approves 5% VAT

The cabinet in Saudi Arabia gave its approval for a region-wide 5% value added tax that will start next year in the Gulf Cooperation Council (GCC). In a cabinet session that King Salman chaired, the cabinet approved the Value Added Tax Unified Agreement, said the Saudi Press Agency or SPA. The press agency also said that a Royal Decree was being prepared. The cabinet’s approval was given after it deemed that the kingdom was at a point where it was ready for the implementation of VAT, said the news agency. A 5% VAT is to be imposed across all of... 
 

Iran Denies Visas to Wrestlers from the United States

On Friday, Iran banned wrestlers from the United States from participating in Freestyle World Cup competition later this month. The denial of visas was in response to the executive order by President Donald Trump that forbids visas for any Iranians for the next 90 days, said the official Iranian news agency IRNA. A senior cleric in Iran vowed that his country was going to continue its missile program even though it has received threats from the White House administration that new sanctions were being prepared. Bahram Ghasemi a spokesperson for the... 
 

Anger Mounts in Europe and Middle East Over Travel Ban

A parliamentary committee in Iraq asked the government on Sunday to reciprocate against the immigration curbs implemented by the U.S. on citizens of 7 Muslim dominated countries. The government of Iraq has not yet commented on the executive order made by President Donald Trump that barred immigrants from those seven nations from entering for the next 90 days. The order also banned the admission of refugees from Syria for an indefinite period and a ban of 120 days for all refugees. However, officials in Iraq said they would lobby the administration... 
 

U.S. President Aims at Keeping Terrorists Out of the Country

On Friday, U.S. President Donald Trump set a hard line tone on the country’s national security by ordering new, strict screening of refugees to ensure that radical Islamic terrorists do not enter the U.S. Trump visited the Pentagon and was joined by his Defense Secretary Jim Mattis to sign the executive order that brought sweeping changes to the refugee policies in the U.S. and put his plans into motion to build up the military. Trump said the government wants to make sure it does not admit the very threats into country that our soldiers are battling... 
 

Saudi Arabia Warns as Shamoon Returns

On Monday, Saudi Arabia warned organizations inside the kingdom to be on the lookout for the return of the Shamoon virus that is crippling to computers by erasing disks. The government’s labor ministry announced it was attacked and a firm that handles chemicals posted a disruption in its network. The telecoms authority from Saudi Arabia released an alert that advised everyone to remain vigilant for possible attacks by Shamoon 2, a variant of the original virus that during 2012 that crippled thousands of computers at Saudi Aramco the oil giant. Shamoon... 
 

Apartment Prices in Abu Dhabi and Dubai Dropped in 2016

Prices at apartments in Dubai fell by an average of more than 11% during 2016 as the housing market battled tough conditions in the economy said a report by Bayut.com a property online site. In its report released annually, the company said that prices of apartments in Dubai fell from Dhs2.57 million during 2015 to just over Dhs2.29 million in 2016. Rents were not as affected, but still were down 6% from the average in 2015. The site said that rent for studios was down by 8%, while prices dropped 5% for buying studios. Rent for a one-bedroom apartment... 
 

Egypt Central Bank Maintains Key Interest Rates

This week the central bank of Egypt has maintained its key interest rates with no change. The bank is holding pat until it can see an impact on the country’s inflation due to last month’s hike in cost of borrowing is clearer. Egypt’s Monetary Policy Committee maintained its overnight deposit rate of 14.75% and its overnight rate for lending of 15.75%, the bank announced in a prepared statement. A majority of economists who were served had predicted the bank would not move interest rates. The bank increased its rates by 550 basis points on... 
 

Oman Joins Muslim Saudi-led Coalition to Fight Against Terrorism

Oman has traditionally been resistant to efforts from Gulf Arab states to close ranks against the Islamic Republic if Iran. However, it has now joined a coalition led by Saudi Arabia of Muslim nations to fight against terrorism, both Gulf and Saudi sources have said this week, The sultanate showed a willingness to be part of an alliance of 40 countries in a letter sent to the Saudi Arabia Deputy Crown Prince and Defense Minister Mohammed bin Salman, said sources. Although it is rare that difference become aired publicly, Oman long stood out amongst... 
 

Saudi Arabia: No Immediate Tax on Remittances of Expats

Saudi Arabia has reportedly been discussing possible plans of imposing a tax of between 2% and 6% on remittances. Saudi Arabia announced through one of its senior officials that there are not any immediate plans of imposing a tax for remittances by expats. Earlier there were reports that claimed the Shoura Council in the kingdom was discussing the possibility of a tax. Former member of the Shoura Council Husam Al-Angari, who was the one who submitted the tax proposal, suggested a tax of 6% on expat residents in the first year of their time in the... 
 

Netanyahu Calls UN Vote Shameful Over Settlements

Israel’s Prime Minister Benjamin Netanyahu called a UN vote to stop settlement activities on occupied land shameful. Netanyahu stressed that Israel was not going to abide by the vote on Friday taken by the UN Security Council’s 15 members. Palestinian President Mahmoud Abbas through a spokesperson said the resolution had been a huge blow to Israel’s policy. The resolution was able to pass when the United States did not veto it, breaking with a longstanding practice by the Americans. Washington traditionally has sheltered Israel from any condemnatory... 
 

Israel Urging United States to Veto Resolution by UN on Settlements

Israel has urged the U.S. to veto on Thursday a UN draft resolution made by the Security Council that calls for the immediate halt of settlements being built on occupied land that is wanted by Palestinians for an independent state. Israel Prime Minister Benjamin Netanyahu posted on his Twitter account late at night making the appeal in a sign of big concern that U.S. President Barack Obama could take one last parting shot at a policy he has always opposed and a leader whom he has always had a rocky relationship with. On Wednesday, the draft resolution... 
 

Saudi Arabia King Calls Economic Reforms Necessary but Painful

On Wednesday, King Salman admitted that his kingdom was enduring some economic reforms he called painful, but indicated they were all necessary in order to protect the country from any worse problems. The steep decline in the price of oil since June of 2014 pushed the energy-rich Arab states in the Gulf to pull back on lavish spending. Saudi Arabia accumulated a new record for a budget deficit of close to $100 billion in 2015, which forced the country to find savings in new places and ways to increase revenue. The state has looked to deal with... 
 

Russia and OPEC Members See Easy Deal for Cut in Output

Saudi Arabia and Russia said they are expecting both OPEC as well as non-OPEC producers to come up with an agreement during meetings on Saturday to cut back on the output of oil to prop prices up during the first joint move in the past 15 years. Khalid al-Falih the energy minister from Saudi Arabia the defacto OPEC leader and top exporter of oil said a deal is already in place and we are only adding the final touches. Energy Minister of Russia Alexander Novak while speaking at a meeting between both members and non-members of OPEC in Vienna said... 
 

Forecast by Boeing is for 200,000 New Jobs in Aviation in Middle East

Airlines across the United Arab Emirates as well as the rest of the region of the Middle East will need as many as 200,000 additional personnel to support growing demand for deliveries of new aircraft during the upcoming two decades, said U.S. based Boeing. The plane maker in the U.S. announced in its Wednesday report that the Middle East’s industry of commercial aviation would need almost 92,000 for cabin crew, over 58,000 for pilots and technicians of over 66,000. The recruiting of personnel for the aviation industry will be one of the biggest... 
 

Fifteen Shia in Saudi Arabia Given Death Sentences for Spying

A Saudi Arabia court has handed down 15 death sentences for spying. The fifteen defendants found guilty of spying for Iran were amongst 32 that consisted of 30 members of the Shia Muslim minority of Saudi Arabia, one Iranian national and one Afghan, that went to trial during February. Saudi prosecutors had accused the defendants of treason, putting together a spy ring through collaboration with the Iran intelligence and the passing of sensitive data regarding military zones. Over the last year, tensions have escalated between Saudi Arabia, which... 
 

Twenty-two Arrested by Israel Officials Over Wildfires

Security officials in Israel have detained 22 people on arson suspicion or the incitement of arson said law enforcement late Friday. The fires began Tuesday and erupted across the country due to parched forests, burning down a number of homes and forcing thousands to flee. Two prisons had to be evacuated. Israeli Prime Minister Benjamin Netanyahu on Friday said a large number of fires had been set and he described it as terror, a term that is usually given to describe Palestinian militant attacks. There is for incitement and terror as well as for... 
 

Coalition Led By Saudis Declares Ceasefire for 48 Hours in Yemen

A military coalition led by Saudi Arabia declared a ceasefire of 48 hours on Saturday in Yemen, with a condition that the Shiite rebels abide by the ceasefire and allow more humanitarian assistance to enter Taiz and other besieged cities. SPA, the news agency in Saudi Arabia carried an official statement from the military coalition saying the truce goes into effect on Saturday at 12:00 p.m. Yemeni time and could be given a renewal. The coalition however warned rebels that are known as the Houthis, against any military movement of any kind. This... 
 

Turkey President Could Lead Country Through 2029

Turkey President Tayyip Erdogan could continue, as the country’s leader through 2029 with greater executive powers under new proposals that the AK Party, which is the current ruling party, is hoping will go to a referendum in the spring of 2017, officials said on Wednesday. Erdogan and supporters argue that Turkey is in need of strong leadership of what it calls an executive presidency that is similar to the system in France or the U.S., to avoid coalition governments that are often fragile that hurt its development during the past. Opponents... 
 

Middle East Countries to Increase Production of Oil in 2020

Countries in the Middle East might peak at nearly 30 million barrels a day of oil production by 2020, says Rystad Energy a consulting firm in Norway on Monday. Iraq and Iran will represent the biggest growth in products said one of the experts at the company. The production overall in the region increased to 26 million barrels daily from 24 million between 2010 and 2015, said Rystad Energy. While the kingdom of Saudi Arabia represents close to 40% of the oil production in the region, Iraq and Iran are the two countries that will see the biggest... 
 

Gulf Executives Ready to Work With President-Elect Trump

Gulf executives, who at one time were upset with the campaign of Donald Trump because of comments made regarding Muslims, have taken a more conciliatory tone after he was elected president and said they are open for business with the U.S.  In Dubai, large placards that display the name of the president-elect and the support he had for a DAMAC DAMAC.DU project to construct a gated community, golf course and spa are visible on the outskirts of the city. Links between Trump as well as other firms in the U.S. with business in the Gulf are strong. In... 
 

Economies in Middle East Take $641 Billion Hit for Arab Spring

The Arab Spring phenomenon that took place across the Middle East in 2011 cost the economies in the region $614 billion of growth due to changes in governments, continued conflict and dropping prices of oil, shows a report released by an agency of the United Nations. The dollar figure from the ESCWA or United Nations Economic and Social Commission for Western Asia is equal to 6% of the GDP through the end of 2015 and based upon growth projections made prior to the start of the revolutions. Published Thursday, it is the first time an estimate has... 
 

Israel Conservatives Hail Win by Donald Trump

After giving congratulations to Donald Trump the new U.S. Presidential elect and thanking Hillary Clinton the defeated Democratic nominee for her continued friendship with Israel, Israeli Minister of Education Naftali Bennett and Chairman Bayit Yehudi said the Palestinian State era is now over. Bennett added that the victory by Trump was an opportunity for Israel to retract immediately the thought of an individual Palestinian state in the middle of Israel. He added that it would hurt security. This is what the new President elect feels, since it... 
 

Three Military Trainers from the U.S. Killed in Jordan

Three U.S. military trainers, who were assigned to help with an upgrade to the armed forces of Jordan, were shot and killed Friday at an Air Force base in Jordan. The alarming confrontation raised questions over the relationship between the U.S. and one of its longtime allies. A spokesperson for the Jordanian military said that the trainers had failed to stop when approaching a gate at the base, but the Pentagon said the circumstances surrounding the shooting were still being examined. The deaths come one year close to the day after a police captain... 
 

UAE Will Not Start Income Tax, But Fuel Prices to Increase

The United Arab Emirates does not have any plans of imposing new taxes on its population and the government is not planning to introduce more fees, said the Finance Ministry undersecretary Younis al-Khouri. Gulf governments have planned new ways to raise more money as the low gas and oil prices created big deficits in their state budgets. The six Gulf Cooperation Council members are planning to implement a value-added tax starting in 2018. However, the remarks from Khouri appeared to rule out, for the time being at least, a possibility of a new... 
 

Saudi Arabia Able to Stand Economic Challenges, OIC Chief Resigns

The Minister of State from Saudi Arabia insisted that the oil rich kingdom can face the different economic challenges at both local and worldwide levels despite the drop in the price of oil. Essam Bin Saad, who also is a Cabinet Member and the acting Minister of Information and Culture, said that the kingdom’s government headquartered in the capital of Riyadh can keep a public fiscal space that is better, preserve reserves and bring its public debt down. The Ministerial Council in Saudi Arabia reiterated that measures that have been enacted of... 
 

Workers from India Fly Home Following Talks in Saudi Arabia

In August, it was estimated that 10,000 workers from India were stranded in Saudi Arabia. The first group of workers from India with the Saad Group was flown home late Thursday following a meeting of officials from each of the governments. The minister of state from India for its external affairs VK Singh ended a visit to Saudi Arabia Friday to help the Indian workers who were laid off to repatriate. The official held a meeting with the Deputy Minister of Social Development and Labor of Saudi Arabia Ahmed Al-Humaidan in what was called productive... 
 

President Sisi Losing Confidence of Egyptians

A cartoon that appeared across social media depicts an Egyptian drowning with only a hand protruding out of the water, waving to get help. The next strip shows Egyptian President Abdel Fattah Al-Sisi jumping into the water and taking the watch of the drowning man and then turning his back. That cartoon has captured the mood amongst angry and desperate Egyptians who have been hit hard with increases in taxes, soaring inflation in food prices and cuts in subsidies from the state. Some fear there will be a repeat of the huge street protests that drove... 
 

Retail Industry in GCC to Grow by Over 7%

Despite some markets in the Gulf Cooperation Council construction sector softening the retail industry should grow between 7% and 12% for the year. This comes following the expansion of theme parks, malls and mega events such as Expo 2020. Local and international designing and layout companies in the retail sector will reap the benefits of this growth due to the increasing focus on consumer comfort and entertainment for shoppers in the sector. With more international brands already in the Middle East North Africa market and more on the way sustainability... 
 

Saudi Arabian Government Issues New Law for Marriages with Foreigners

The government of the Middle East kingdom issued new requirements that are much stricter for the marriage of men and women from Saudi Arabia to non-Saudis. These new rules appear to be an attempt to discourage Saudis from marrying foreign nationals with very strict criteria including a list of the countries a spouse can be from. Saudi men now must have appropriate housing, income of a minimum of SAR3,000 and be between the ages of 40 and 65 to wed a foreigner, said a report released by the Arab News. The woman who is non-Saudi must be 25 years or... 
 

Traffic at Dubai Airports Outpaces Forecast, Air India Launches Service

The rapid growth of air traffic at both Dubai Airports has increased the need for additional capacity at each. In a presentation called Planes, Trains and Automobiles directed to a group of British Business members this week, Paul Griffiths CEO of the airport said the original projection by the airport for 2020 was for over 90 million and that figure will be reached by the end of 2017. Dubai International now is on course to handle more than 118 million passengers before 2023, while the existing passenger building at DWC is going through an expansion... 
 

Israel Cuts Ties with UNESCO Due to Disagreement over Holy Site

Israel announced the suspension of ties with the United Nations group UNESCO, which is in charge of the preserving of history and culture, after a draft decision said that Israel ignores ties to Judaism in the holiest site of the religion. The draft decision shows the importance that Jerusalem has to all of the three monotheistic religions – Christianity, Islam and Judaism, but does not mention why the city is significant to Jews or Christians. In Paris on Thursday, the resolution was passed by a UNESCO Executive Board’s subsidiary body. The... 
 

Syrian Attack Plan Refugee Kills Himself While in Custody

A Syrian refugee who was suspected of the planning of a bomb attack on an airport in Berlin strangled himself with his own shirt while in detention, said law enforcement officials on Thursday. Investigators believe Jaber Albakr, who was 22 and arrived in 2015 in Germany, was close to carrying out a terrorist attack. Police in Germany said that Albakr’s behavior suggested he was linked with ISIS. Law enforcement officials arrested Albakr on Sunday following a two-day manhunt. On the night of October 12, the suspect took his own life while in a... 
 

Inflation Eases in Egypt During September

The annual urban consumer prices inflation in Egypt eased in September to 14.1% from 15.5% or a high of eight years during August, said CAPMAS the official statistics agency on Monday. In August, headline inflation surged, raising the expectations that the Egyptian central bank raise interest raise September 22. However, the country’s central bank kept rates where they were citing transitory factors, which pushed costs up. The drop during September is the first for the urban measure dating back to March. Increases in inflation have been steady... 
 
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