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Gulf shares start new year in upbeat mood, Egypt outperforms

The IMF warned on Sunday about a tougher year in 2023 for the global economy with USA, China, Europe with weakening activity.
03.01.23 | Source: Reuters

Most major Gulf equities got off to a good 2023 start on Monday, with Egypt outperforming regional peers, as investors shrugged off concerns about a potential recession, crude oil demand and the U.S. Fed hiking rates further.


The IMF warned on Sunday about a tougher year in 2023 for the global economy with the main engines of growth - the United States, Europe and China - all experiencing weakening activity.

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