Today's Business News Wednesday, February 15

1. Egypt's headline inflation rate soars to 25.8% in January

Egypt's consumer price index (CPI) rose 25.8% year-on-year in January, higher than expected and the fastest increase in more than five years, up from 21.3% in December last year, according to data released by Egyptian statistics agency CAPMAS. January's inflation rate was the highest level since December 2017.

2. hot rolled coil: Indonesia launches anti-dumping sunset review investigation

Recently, the Indonesian Anti-Dumping Commission issued a notice to initiate anti-dumping sunset review investigation on hot-rolled coil imported from China, India, Russia, Belarus, Kazakhstan, Taiwan, China and Thailand. The Indonesian tariff numbers of the products involved are 7208.10.00, 7208.25.00, etc.

3. Bangladesh Chittagong port cargo volume dropped significantly in January

Recently, according to the data released by Chittagong Port of Bangladesh, in January 2023, the import handling volume alone dropped 33% year-on-year to 87,984 TEU, while the total container volume of Chittagong Port dropped 25% to 197,782 TEU. The port's overall performance was down significantly compared to January last year.

4. Amazon released new seller incentives

February 15 news, Amazon's U.S., European and Japanese sites issued an announcement that new sellers may be eligible for new seller incentives if they have not yet shelved their first products in the United States, Japan, the United Kingdom, Germany, France, Italy and Spain, or if existing sellers wish to expand to the above new sites. Qualified sellers who take the necessary action are eligible for benefits worth more than £40,000, including Vine, FBA and Amazon vouchers.

5. U.S. CPI rose 6.4% year-on-year in January, higher than market expectations

On February 14, the U.S. Bureau of Labor Statistics released data showing that the U.S. CPI rose 6.4% year-on-year in January, higher than market expectations and the previous value was 6.5%, which is the smallest year-on-year increase since October 2021. At the same time, this is also the seventh consecutive month of decline in the U.S. CPI year-over-year increase since June 2022, when it hit a 40-year peak of 9.1%.