<?xml version="1.0" encoding="UTF-8"?><rss version="2.0" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:wfw="http://wellformedweb.org/CommentAPI/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:sy="http://purl.org/rss/1.0/modules/syndication/" xmlns:slash="http://purl.org/rss/1.0/modules/slash/" xmlns:georss="http://www.georss.org/georss" xmlns:geo="http://www.w3.org/2003/01/geo/wgs84_pos#" > <channel> <title>S&P Global | Egyptian Streets</title> <atom:link href="https://egyptianstreets.com/tag/sp-global/feed/" rel="self" type="application/rss+xml" /> <link>https://egyptianstreets.com</link> <description>Independent Media</description> <lastBuildDate>Tue, 19 Mar 2024 13:55:10 +0000</lastBuildDate> <language>en-US</language> <sy:updatePeriod> hourly </sy:updatePeriod> <sy:updateFrequency> 1 </sy:updateFrequency> <generator>https://wordpress.org/?v=6.4.5</generator> <image> <url>https://egyptianstreets.com/wp-content/uploads/2015/09/cropped-eslogo-32x32.png</url> <title>S&P Global | Egyptian Streets</title> <link>https://egyptianstreets.com</link> <width>32</width> <height>32</height> </image> <site xmlns="com-wordpress:feed-additions:1">99566350</site> <item> <title>S&P Raises Egypt’s Credit Outlook From Stable to Positive</title> <link>https://egyptianstreets.com/2024/03/19/sp-raises-egypts-credit-outlook-from-stable-to-positive/</link> <comments>https://egyptianstreets.com/2024/03/19/sp-raises-egypts-credit-outlook-from-stable-to-positive/#comments</comments> <dc:creator><![CDATA[Shereif Barakat]]></dc:creator> <pubDate>Tue, 19 Mar 2024 13:55:10 +0000</pubDate> <category><![CDATA[Business]]></category> <category><![CDATA[Economy]]></category> <category><![CDATA[Egypt]]></category> <category><![CDATA[News]]></category> <category><![CDATA[business]]></category> <category><![CDATA[buzz]]></category> <category><![CDATA[economy]]></category> <category><![CDATA[egypt]]></category> <category><![CDATA[egyptians]]></category> <category><![CDATA[featured]]></category> <category><![CDATA[middle east]]></category> <category><![CDATA[middle-east]]></category> <category><![CDATA[news]]></category> <category><![CDATA[politics]]></category> <category><![CDATA[S&P]]></category> <category><![CDATA[S&P Global]]></category> <category><![CDATA[s&p global ratings]]></category> <category><![CDATA[standard and poor's]]></category> <guid isPermaLink="false">https://egyptianstreets.com/?p=91580</guid> <description><![CDATA[<p>Standard and Poor’s (S&P) Global Ratings raised Egypt’s credit outlook from stable to positive on 18 March, weeks after the government decided to enforce a long-awaited free-floating currency exchange regime. “[The decision] reflects our view that the determination of the exchange rate via market forces will help drive GDP growth and over time support the government’s fiscal consolidation plan,” S&P explained. Despite the lift, the credit rating agency affirmed its current rating of Egypt at B-, placing it six notches into junk status, similar to El Salvador and Ecuador. “We view the exchange rate liberalization, coupled with Egypt’s commitment to ambitious budgetary consolidation targets, as a crucial step in bolstering confidence and fostering growth in Egypt’s economy and its debt sustainability,” wrote S&P analysts Trevor Cullinan and Ravi Bhatia wrote in a statement reported by Bloomberg. The positive outlook arrived after forecasts indicated that a market-driven foreign exchange rate will stimulate growth and, in the long run, support the government’s efforts to restabilize its fiscal conditions. Furthermore, ongoing funding from international organizations like the International Monetary Fund (IMF), European Union (EU), and World Bank Group (WBG) is expected to significantly<a href="https://egyptianstreets.com/2024/03/19/sp-raises-egypts-credit-outlook-from-stable-to-positive/">Continue reading <span class="sr-only">"S&P Raises Egypt’s Credit Outlook From Stable to Positive"</span></a></p> <p>The post <a href="https://egyptianstreets.com/2024/03/19/sp-raises-egypts-credit-outlook-from-stable-to-positive/">S&P Raises Egypt’s Credit Outlook From Stable to Positive</a> first appeared on <a href="https://egyptianstreets.com">Egyptian Streets</a>.</p>]]></description> <content:encoded><![CDATA[<p>Standard and Poor’s (S&P) Global Ratings raised Egypt’s credit outlook from stable to positive on 18 March, weeks after the government decided to enforce a long-awaited free-floating currency exchange regime. “[The decision] reflects our view that the determination of the exchange rate via market forces will help drive GDP growth and over time support the government’s fiscal consolidation plan,” S&P explained. Despite the lift, the credit rating agency affirmed its current rating of Egypt at B-, placing it six notches into junk status, similar to El Salvador and Ecuador. “We view the exchange rate liberalization, coupled with Egypt’s commitment to ambitious budgetary consolidation targets, as a crucial step in bolstering confidence and fostering growth in Egypt’s economy and its debt sustainability,” wrote S&P analysts Trevor Cullinan and Ravi Bhatia wrote in a statement reported by Bloomberg. The positive outlook arrived after forecasts indicated that a market-driven foreign exchange rate will stimulate growth and, in the long run, support the government’s efforts to restabilize its fiscal conditions. Furthermore, ongoing funding from international organizations like the International Monetary Fund (IMF), European Union (EU), and World Bank Group (WBG) is expected to significantly… </p> <div class="pmpro_content_message">This content is for members only. Visit the site and log in/register to read.</div><p>The post <a href="https://egyptianstreets.com/2024/03/19/sp-raises-egypts-credit-outlook-from-stable-to-positive/">S&P Raises Egypt’s Credit Outlook From Stable to Positive</a> first appeared on <a href="https://egyptianstreets.com">Egyptian Streets</a>.</p>]]></content:encoded> <wfw:commentRss>https://egyptianstreets.com/2024/03/19/sp-raises-egypts-credit-outlook-from-stable-to-positive/feed/</wfw:commentRss> <slash:comments>2</slash:comments> <address><a>Shereif Barakat</a></address><post-id xmlns="com-wordpress:feed-additions:1">91580</post-id> </item> <item> <title>Egypt’s Private Sector Decline Slows Down: S&P Global PMI</title> <link>https://egyptianstreets.com/2023/07/05/egypts-private-sector-decline-slows-down-sp-global-pmi/</link> <dc:creator><![CDATA[Shereif Barakat]]></dc:creator> <pubDate>Wed, 05 Jul 2023 13:48:12 +0000</pubDate> <category><![CDATA[Companies]]></category> <category><![CDATA[Economy]]></category> <category><![CDATA[Egypt]]></category> <category><![CDATA[News]]></category> <category><![CDATA[business]]></category> <category><![CDATA[buzz]]></category> <category><![CDATA[Cairo]]></category> <category><![CDATA[economy]]></category> <category><![CDATA[egypt]]></category> <category><![CDATA[egyptians]]></category> <category><![CDATA[featured]]></category> <category><![CDATA[Joe Hayes]]></category> <category><![CDATA[middle east]]></category> <category><![CDATA[middle-east]]></category> <category><![CDATA[news]]></category> <category><![CDATA[non-oil private sector]]></category> <category><![CDATA[PMI]]></category> <category><![CDATA[politics]]></category> <category><![CDATA[private sector]]></category> <category><![CDATA[purchasing managers' index]]></category> <category><![CDATA[S&P]]></category> <category><![CDATA[S&P Global]]></category> <category><![CDATA[supreme council for investments]]></category> <guid isPermaLink="false">https://egyptianstreets.com/?p=86371</guid> <description><![CDATA[<p>Egypt’s non-oil private sector Purchasing Managers’ Index (PMI) increased to 49.1 in June, marking the highest level since August 2021, according to a report published by Standard and Poor’s (S&P) Global. The Purchasing Managers Index (PMI) is an economic indicator that assesses the non-oil business conditions of a country by measuring various factors including production, employment, logistics, and trade. When the PMI score is below 50, it indicates a contraction in business conditions, while a score above 50 signifies an expansion. Despite Egypt’s positive developments, June’s score of 49.1 reveals a continuing deterioration in the country’s non-oil private sector – remaining below the 50 threshold. “Egypt’s non-oil private sector economy remained under pressure at the end of the second quarter of 2023, with the PMI once again signalling a deterioration in business conditions,” reads S&P’s report. The report also highlighted that production output and new orders for goods and services experienced moderate declines, whereas inflationary pressures cooled down to a 16-month low. The cited causes for the continuing decline include price pressures, liquidity concerns, and weak export demand. “Despite positive directional movements in a number of sub-indices, business confidence fell<a href="https://egyptianstreets.com/2023/07/05/egypts-private-sector-decline-slows-down-sp-global-pmi/">Continue reading <span class="sr-only">"Egypt’s Private Sector Decline Slows Down: S&P Global PMI"</span></a></p> <p>The post <a href="https://egyptianstreets.com/2023/07/05/egypts-private-sector-decline-slows-down-sp-global-pmi/">Egypt’s Private Sector Decline Slows Down: S&P Global PMI</a> first appeared on <a href="https://egyptianstreets.com">Egyptian Streets</a>.</p>]]></description> <content:encoded><![CDATA[<p>Egypt’s non-oil private sector Purchasing Managers’ Index (PMI) increased to 49.1 in June, marking the highest level since August 2021, according to a report published by Standard and Poor’s (S&P) Global. The Purchasing Managers Index (PMI) is an economic indicator that assesses the non-oil business conditions of a country by measuring various factors including production, employment, logistics, and trade. When the PMI score is below 50, it indicates a contraction in business conditions, while a score above 50 signifies an expansion. Despite Egypt’s positive developments, June’s score of 49.1 reveals a continuing deterioration in the country’s non-oil private sector – remaining below the 50 threshold. “Egypt’s non-oil private sector economy remained under pressure at the end of the second quarter of 2023, with the PMI once again signalling a deterioration in business conditions,” reads S&P’s report. The report also highlighted that production output and new orders for goods and services experienced moderate declines, whereas inflationary pressures cooled down to a 16-month low. The cited causes for the continuing decline include price pressures, liquidity concerns, and weak export demand. “Despite positive directional movements in a number of sub-indices, business confidence fell… </p> <div class="pmpro_content_message">This content is for members only. Visit the site and log in/register to read.</div><p>The post <a href="https://egyptianstreets.com/2023/07/05/egypts-private-sector-decline-slows-down-sp-global-pmi/">Egypt’s Private Sector Decline Slows Down: S&P Global PMI</a> first appeared on <a href="https://egyptianstreets.com">Egyptian Streets</a>.</p>]]></content:encoded> <address><a>Shereif Barakat</a></address><post-id xmlns="com-wordpress:feed-additions:1">86371</post-id> </item> </channel> </rss>