Inflation continued to rise, scoring 32.9% at the end of April, up from 32.5% in March, due to higher prices of vegetables, meat, fish, poultry, and fruits. The rise of inflation, driven by price hikes, burden Egyptians. Prices of food and drinks jumped 44.3%. The increase in food prices contributed by 32% to the annual inflation. Source Daily News Egypt
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Italy’s economy minister sought to reassure investors on Thursday that they will not be hit in a rescue of two ailing regional banks, Popolare di Vicenza and Veneto Banca, after fears of a full “bail-in” hit the lenders’ debt. Source Reuters
SHANGHAI, May 26 China’s yuan on Friday extended the previous day’s big gain, hitting its strongest level in more
than three months, and the Chinese currency was on track for its best week since mid-January. Source Reuters
A top adviser to Donald Trump confirmed that the U.S. president had criticized Germany as “very bad” on trade at a meeting with EU officials in Brussels. “He said they’re very bad on trade, but he doesn’t have a problem with Germany,” White House economic adviser Gary Cohn told reporters at a Group of Seven summit in Sicily. Source Reuters