Egypt’s Q1 unemployment rate drops to 8.1%

The number of unemployed stood at 2.267 million out of a total workforce of 27.968 million, Egypt’s state statistics agency CAPMAS said. (Reuters)
Updated 15 May 2019
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Egypt’s Q1 unemployment rate drops to 8.1%

  • About 2.267 million Egyptians out of a total workforce of 27.968 million were jobless in the first quarter
  • Unemployment rate in 2018 was 9.9 percent

CAIRO: Egypt’s unemployment rate dropped to 8.1 percent in the first quarter of 2019 from 10.6 percent in same period the previous year, state statistics agency CAPMAS said on Wednesday.
The number of unemployed stood at 2.267 million out of a total workforce of 27.968 million, CAPMAS said.
Unemployment was 8.9 percent in the fourth quarter of 2018 and 9.9 percent over the full year in 2018, according to the government.


Samsung may gain from Huawei’s plight in ongoing trade war: Fitch

Updated 40 min 21 sec ago
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Samsung may gain from Huawei’s plight in ongoing trade war: Fitch

  • The loss of access to Google’s android system may hurt the smartphone sales of Huawei outside China
  • The ratings agency also added that iPhone maker Apple could be another casualty of the trade tensions

Samsung may have a chance to strengthen its position in the smartphone market due to the hurt caused to Huawei Technologies in the wake of US-China trade tensions, according to Fitch Ratings.
Tech companies, including Google and SoftBank Group-owned chip designer ARM, have said they will cease supplies and updates to Huawei.
The loss of access to Google’s android system may hurt the smartphone sales of the Chinese technology company outside China, thereby giving Samsung a chance to improve its market share, Fitch Ratings said in a statement.
Earlier this month, the US government hit Huawei with severe sanctions as the US Commerce Department blocked the Chinese company from buying American goods amid its escalating trade spat with China.
The ratings agency also added that iPhone maker Apple could be another casualty of the trade tensions between Beijing and Washington, which would accelerate its market share loss in China.