The Central Bank of Egypt has released its Q2 2026 Monetary Policy Report, reinforcing policy transparency as a critical pillar for its inflation targeting framework. This edition explores the dynamics that influenced the global and domestic economic landscapes in the second quarter of 2026, providing a comprehensive assessment of their impact on the Egyptian economy. The report focuses on inflation dynamics, the real and external sectors, as well as domestic credit and financial conditions. Furthermore, it features an outlook section that presents a forward-looking perspective on key macroeconomic indicators whilst accounting for the prevailing balance of risks.

Additionally, the Report includes the following three thematic boxes, which highlight topics essential to the conduct of monetary policy.

1. Exchange Rate Pass-through to Inflation in Egypt

2. Insights into the Fiscal Budget for FY 2026/27 and Medium-term Fiscal Projections

3. The Neutral Real Interest Rate — Concept, Policy Relevance, and Estimation

Trading Economics-


The Ibovespa rose over 0.5% to trade close to 168,000 on Tuesday, supported by heavyweight stocks. Petrobras rose nearly 1% . Axia (+0.5%) announced the results of its second Class C preferred share buyback operation, totaling approximately R$2 billion. Itaْ BBA reiterated its buy recommendation for the stock. Rede D’Or added about 1%, while WEG gained 0.5%. Major banks traded below the flatline, pressured by rising global bond yields as energy-driven inflation concerns persisted. Meanwhile, Casas Bahia (-7%) is seeking a R$1 billion loan and betting on its marketplace after filing for judicial recovery. The company’s shares were halted several times during Monday’s session amid sharp volatility and closed down 33%.

Trading Economics-


The FTSE 100 edged higher on Tuesday, outperforming other European markets as gains in energy stocks offset weakness among precious-metals miners. BP and Shell rose 3% and 2%,Lower gold prices weighed on mining stocks, with Fresnillo falling around 3% and Endeavour Mining declining 2.8%. Meanwhile, UK labour market data showed unemployment holding at 4.9% in the three months to June, slightly above the 4.8% expected. Payroll employment increased by 83,000, well below the 129,000 forecast, suggesting some softening in labour demand. Average weekly earnings rose 4.1% year-on-year, broadly matching expectations.

Trading Economics-


US stock indices closed lower on Tuesday amid a selloff in chipmakers and elevated bond yields. The S&P 500 fell 0.7%, the Nasdaq 100 lost 1.7% and the Dow shed 116 points. Long-term yields slipped from recent peaks but remained near multi-year highs as inflation risks and surging bond issuance by AI companies fueled uncertainty over term premia.Chipmakers tied to the AI trade posted sharp losses, with Nvidia down 2.3%, Broadcom shedding 3.2%, Micron losing 7% and AMD retreating 4.3%. Intel tumbled 6.6%, while Sandisk sank 9%. Other major AI companies also closed lower, with Meta losing 4.4%, Tesla down 0.7% and Oracle shedding 2.7%. Credit-sensitive financial stocks came under pressure, with Goldman Sachs (-1%) and Citigroup (-0.6%) closing lower. Home Depot shed 0.3% despite beating earnings estimates amid elevated borrowing and housing costs.

Trading Economics-


The S&P/TSX Composite Index fell 0.8% to close at 36,368 on Tuesday, weighed down by losses in the mining and financial sectors amid elevated global bond yields and uncertainty surrounding the Middle East conflict. Global bond yields traded near multi-decade highs,Major banks closed lower, with RBC losing 1.3%, TD Bank shedding 1.7%, BMO down 1.2%, CIBC losing 1.3% and Scotiabank retreating 1.1%. Miners also declined as gold prices slipped, with Agnico Eagle down 0.8%, Barrick losing 0.9% and WPM shedding 2.8%. Most technology stocks tumbled, tracking a selloff in US chipmakers, with Shopify losing 1.2% and Celestica sinking 8.4%. In contrast, energy stocks gained on rising oil prices, with Canadian Natural up 0.9% and Suncor adding 1.7%. NexGen Energy (-4.4%) is discussing a potential equity stake with BHP in its Rook I mining project in Saskatchewan, CEO Leigh Curyer said.

Trading Economics-


The Ibovespa fell 0.2% to close at 166,334 on Tuesday, erasing earlier gains to end its eleventh consecutive session of losses amid elevated global bond yields and uncertainty surrounding the Middle East conflict. Global bond yields traded near multi-decade highs, Major banks closed lower, with Itaْ shedding 0.5%, Bradesco losing 0.6% and Banco do Brasil retreating 0.8%. Utilities also posted losses, with Axia down 0.6% after gaining earlier in the session on the results of its share buyback operation and a buy recommendation from Itaْ BBA. Steelmakers posted losses despite higher iron ore prices, with Gerdau down 2.3% and CSN losing 0.7%, while Vale edged 0.2% higher. Petrobras gained 0.3% on higher oil prices. WEG (+1%), Embraer (+0.8%) and Suzano (+1.4%) outperformed.

Trading Economics-


The Nikkei 225 Index fell 3.16% to close at 65,326, while the broader Topix Index declined 3.09% to 4,012 on Wednesday, with Japanese shares sliding for a second consecutive session as the selloff in semiconductor and other technology stocks intensified. Local equities also tracked losses on Wall Street overnight, where AI-linked chipmakers came under heavy selling pressure. Meanwhile, elevated global bond yields and rising oil prices further dampened investor sentiment, with Japan’s 10-year bond yield climbing to 30-year highs this week. Notable declines were recorded among Japanese companies heavily exposed to the global AI supply chain, including Kioxia Holdings (-12.6%), Furukawa Electric (-13.7%), Advantest (-2.3%), Tokyo Electron (-3.1%) and Fujikura (-9.7%). Financial and consumer stocks also fell, with Mitsubishi UFJ losing 4.4% and Toyota Motor dropping 2.7%.

Trading Economics-


The benchmark KOSPI fell 5.80% to close at 6,471 on Wednesday, extending losses from the previous session, as a global bond selloff weighed on investor sentiment. The US 30-year Treasury yield climbed to its highest level since 2007, while long-term bond yields also reached multi-year highs in Japan and Europe, raising concerns over higher borrowing costs and pressuring growth and technology stocks. The global technology selloff hit Korean chipmakers particularly hard, with Samsung Electronics and SK hynix plunging 7.54% and 9.93%, respectively, tracking losses in US semiconductor stocks. Losses were also recorded in SK Square (-11.54%), Hyundai Motor (-5.17%), KB Financial Group (-1.72%), Kia Corporation (-3.21%), and HD Hyundai Heavy Industries (-3.06%).

Trading Economics-


The Shanghai Composite tumbled 2.40% to close at 3,894.4 on Wednesday, while the Shenzhen Component slumped 5.01% to 13,890.2, as a broad selloff in semiconductor stocks weighed heavily on both benchmarks. Chipmakers came under pressure worldwide as government bond yields surged amid persistent inflation, elevated fiscal spending, and heavy debt issuance. In addition, geopolitical tensions fueled concerns over energy supply disruptions, reinforcing fears that inflation and financing costs could remain elevated. The decline followed GigaDevice's H1 2026 results, which slightly missed the company's expectations despite revenue soaring 178.7% year-on-year to RMB 11.57 billion and net profit surging 1,091.5% to RMB 6.86 billion. SMIC (-5.16%), Cambricon Technologies (-9.64%), Hygon Information Technology (-7.26%), GigaDevice (-7.56%), Hua Hong Semiconductor (-11.92%), Zhongji Innolight (-9.36%), Eoptolink Technology (-9.0%), and NAURA Technology (-8.24%) were among the biggest decliners.

Trading Economics-


New Zealand's stocks rose 63 points, or 0.5%, to close at 13,930 on Wednesday, marking their highest level since August 6 and extending gains from the previous session, mainly buoyed by gains in healthcare and communication services. Positive earnings results from some companies lifted sentiment, while investors braced for further releases. However, a downbeat session on Wall Street overnight, due to a selloff in chipmaker-related stocks, rising Treasury yields, and higher oil prices, capped gains. On the data front, New Zealand's input and output prices rose 2.9% and 1.6%, respectively, quarter-on-quarter in Q2, marking the fastest increases since Q1 2025. EBOS Group surged 8.0% after reporting a 4.7% rise in net profit for the full year ended June 30, 2026, while Fletcher Building jumped 6.2% after the company recorded a profit following a loss in the previous quarter. Meanwhile, Spark NZ rose 3.3% ahead of the release of its earnings results on Thursday.

Trading Economics-


The ASX 200 lost 16 points, or 0.2%, to finish at 9,054 on Wednesday, marking a sixth straight decline and a two-week low. Sentiment remained downbeat as U.S. stock futures weakened, weighed by rising oil prices, elevated Treasury yields, and an extended drop in chip stocks on Wall Street. Locally, Q2 wages in Australia rose 3.2% yoy, unchanged from the prior quarter and the weakest pace in five quarters, while caution built ahead of July labor data due Thursday. Separately, RBA Deputy Governor Andrew Hauser warned cash rates may need to rise again if inflation risks persist, stressing price growth remains “too high.” Tech led losses, followed by consumers, logistics, and financials. Whitehaven Coal tumbled 2.4% on weak earnings, and Evolution Mining shed 0.9% despite stronger FY26 profit. Three of the big four banks eased 0.1%–1.4%. In contrast, Santos gained 2.5% on higher oil prices and an interim dividend aligned with estimates, reflecting its first-half operating free cash flow.

Trading Economics-


India’s BSE Sensex closed about 0.4% down at 76,909.7 on Wednesday, the lowest since July 28, marking the fourth straight session of losses. Sentiment remained cautious amid higher oil prices, elevated global bond yields Investors also awaited the release of the FOMC minutes due later in the day for further clues on the Fed’s monetary policy path. Meanwhile, foreign outflows remained a key drag on Indian equities, with foreign investors withdrawing a record $25 billion so far this year despite turning net buyers on Tuesday. Among individual stocks, Power Grid Corporation (-2%), Bajaj Finance (-1.3%), Larsen & Toubro (-1.3%), ITC (-1.2%) and Hindustan Unilever (-1%) posted the biggest losses. On the other hand, HCL Technologies (+1.7%), Eternal (+1.3%), Kotak Mahindra Bank (+1.2%) and Sun Pharmaceutical Industries (+1.2%) were the notable gainers.

Trading Economics-

US stock indices were higher on Tuesday after the Treasury signaled it will buy back more notes and bonds. The S&P 500, Dow, and Nasdaq 100 were slightly above the flatline. The Treasury stated it would double the limit on buybacks of long-term securities, adding to a series of other measures it took to control the recent surge in longer benchmark borrowing costs. Besides reducing rates, the outlook of higher dollar liquidity from the Treasury's intervention also supported equities. US yields were also in focus ahead of the release of FOMC minutes. Gains were broad on most sectors, with software application and hyperscalers mostly trading higher. Apple, Salesforce, and Tesla gained 1%. Meanwhile, retail stocks gained after TJX, Target, and Lowe's all reported second-quarter earnings. On top of that, Moderna stock prices doubled and Merck surged 10% after a trial on their joint vaccine cut recurrence in melanoma.

(ONA)-


The Sultanate of Oman’s foreign trade in tea and coffee recorded notable growth over the past five years, with the value of imports of both products increasing between 2021 and 2025, according to the latest official statistics issued by the National Centre for Statistics and Information (NCSI).

The data showed that the value of tea imports increased from RO 13.9 million in 2021 to RO 28.2 million in 2025, recording growth of 103.2%. Imported quantities also rose from 9.3 million kilograms to 26.2 million kilograms, representing growth of 182.1% over the same period.

Coffee imports also recorded notable growth, with their value rising from RO 8.6 million in 2021 to RO 21 million in 2025, an increase of 144.1%. Imported quantities rose from 6.2 million kilograms to 7.7 million kilograms, recording growth of 23.9%.

Among supplying countries in 2025, the Republic of Kenya topped the list of tea suppliers to the Sultanate of Oman, with imports valued at RO 20.2 million MR, followed by the United Arab Emirates at RO 4.7 million and the Republic of India at RO 1.1 million.

For coffee imports, the United Arab Emirates topped the list of supplying countries in 2025, with imports valued at RO 8.5 million, followed by the Republic of Vietnam at RO 2.6 million, the Kingdom of Saudi Arabia at RO 1.6 million and Brazil at RO 1.5 million.

Trade activity also extended to re-exports. The value of tea re-exports reached RO 1.03 million in 2025, while tea exports stood at RO 737.2 thousand. Coffee re-exports amounted to RO 338.5 thousand, while coffee exports reached RO 11.8 thousand.

Trade activity also included tea and coffee utensils and accessories, with imports valued at RO 5 million in 2025, compared with RO 6.5 million in 2024. Re-exports of these items stood at RO 796.4 thousand, according to the available data.

In a related context, data on establishments operating in restaurant and café activities indicate an expansion in the range of food and beverage service activities in the Sultanate of Oman. These include establishments primarily serving beverages, establishments primarily serving meals, mobile establishments, as well as restaurants and canteens affiliated with public establishments.

According to the latest available data, the number of establishments engaged in restaurant activities reached 6,198, while establishments primarily serving beverages stood at 2,833 and those primarily serving meals reached 6,295. This was in addition to 427 mobile establishments and 65 restaurants and canteens affiliated with public establishments.

(ONA)-


The official price of Oman crude oil for October 2026 delivery settled today at USD 93.22 per barrel. This marks an increase of USD 3.06 compared to yesterday's closing price of USD 90.16 per barrel.

The monthly average price of Oman crude oil for August 2026 delivery stood at USD 79.09 per barrel, reflecting a decline of USD 22.91 from the July 2026 delivery average.