Fed expected to push ahead with Rate Hike Plan
Published 2015-07-29 10:03:49| Amwal Al Ghad English
The Federal Reserve is expected on Wednesday to point to a growing U.S. economy and stronger job market as it sets the stage for a possible interest rate hike in September. The U.S. central bank is scheduled to issue its latest policy statement at 2 p.m. EDT following a two-day meeting, spelling out how policymakers feel the economy has progressed since they last met in June. Earlier this year the Fed embraced a meeting-by-meeting approach on the timing of what will be its first rate hike since June 2006, making such a decision solely dependent on incoming economic data.
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The total volume of compensations paid by insurance firms working in Egyptian market hit EGP 6.442 billion (US$ 817.3) at the end of first quarter versus EGP 5.233 billion at the same period of 2014, marking 23% growth rate. The monthly reports of the Egyptian Financial Supervisory Authority (EFSA) stated that the total compensations paid by public sector's firms reached 3.298 billion Egyptian pounds at the end of March 2015.
Prime Minister Ibrahim Mahlab issued a decree Wednesday to extend the tenure of Arab Contractors' Chairman Mohsen Salah for another year. Salah was firstly assigned as Arab Contractor's Chairman in August 2013.
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