Economic growth in Israel slows in Second Quarter of 2018

JERUSALEM (Reuters) - Israel's economy grew an annualised 1.8 percent in the second quarter of 2018, slower than previously thought, weighed down by a steeper drop in exports and a decline in consumer spending, the Central Bureau of Statistics said in a second estimate. In a preliminary estimate last month, the

Unions strike in Jordan in protest of IMF tax hikes

AMMAN (Reuters) - Shops and pharmacies closed in Jordan's capital on Wednesday as some unions pressed ahead with a strike protesting against tax hikes, after King Abdullah replaced his prime minister to try to defuse public anger. A draft law to raise income taxes and International Monetary Fund-driven reforms that have

Poor Egyptians spent 20% of wages on transportation to get to work

(AFP) CAIRO: While Egypt’s economy is displaying the green shoots of recovery, citizens are enduring relentless price rises covering everything from water to metro tickets. At Cairo’s El Zahraa metro station, nestled among red-brick apartment blocks in a middle-income neighborhood, 46-year-old Omm Mohamed laments the government’s economic overhaul. “The burden has become