{"id":547083,"date":"2022-06-08T04:21:08","date_gmt":"2022-06-08T04:21:08","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/08\/this-morning-back-to-the-70s-for-the-global-economy-usb-c-is-king-in-europe\/"},"modified":"2022-06-08T04:21:08","modified_gmt":"2022-06-08T04:21:08","slug":"this-morning-back-to-the-70s-for-the-global-economy-usb-c-is-king-in-europe","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/08\/this-morning-back-to-the-70s-for-the-global-economy-usb-c-is-king-in-europe\/","title":{"rendered":"THIS MORNING: Back to the 70s for the global economy + USB-C is king in Europe"},"content":{"rendered":"

Good morning, lovely people, and welcome to almost-THURSDAY<\/strong>, the only name we know of for this day of the week.<\/p>\n

The BIG STORY ABROAD and the BIG STORY here at home are in sync this morning: The World Bank is warning that things could be about to get very <\/strong>That \u201870s Show<\/a><\/strong> for the global economy<\/strong>, as the lender took an an axe to its global growth forecast for 2022 on the back of the threat of stagflation. US Treasury Secretary Janet Yellen (once a stalwart of the \u201cinflation is transitory\u201d camp) is also warning<\/a> that elevated price hikes could stick around for some time.<\/p>\n

A recession will be \u201chard to avoid\u201d for most countries<\/strong>, the World Bank says. The New York Times<\/a>, Reuters<\/a>, and Bloomberg<\/a> all have more on the global picture.<\/p>\n

Egypt is something of a bright spot (for now)<\/strong>, with the WB revising its projection for growth this fiscal year upwards to 6.1% \u2014 but global headwinds are likely to make themselves felt as we move into FY 2022-2023. We have the full rundown in the newswell, below.<\/p>\n

Elsewhere here at home, we have another round of positive IPO, M&A and investment news:<\/strong><\/p>\n