Flower demands boom in Shanxi as new year draws near

Demand for flowers has risen sharply in north China's Shanxi Province as New Year's Day approaches.

In a flower market in the province's capital, Taiyuan, a dazzling array of colorful flowers in full bloom, such as phalaenopsis orchids, anthurium, and bush lily, are being displayed

"I want a fresh start in the new year. Flowers represent vitality, so I'd like to buy some lush and verdant plants," said a resident surnamed Yang.

Flowers with auspicious meanings are widely popular, with Phalaenopsis orchids being the most favored by consumers, according to merchants.

"We have over 20 varieties of Phalaenopsis orchids. With New Year's Day approaching, many regular customers have already placed pre-orders. Elder people, like us, especially prefer purple and red ones. Sales have been pretty good this year; we're selling over 20 pots a day," said flower vendor Yang Zhiping.

Besides fresh flowers, exquisitely designed potted plants and greenery are also very popular, and merchants have stocked up in advance to ensure ample supply and meet the diverse needs of consumers.

"Starting this week, customer volume has increased by at least 20 to 30 percent compared to before, and sales have also increased. Due to high demand, we have started stocking up, and we will also increase the variety of colors," said vendor Ma Cuimei.

Flower demands boom in Shanxi as new year draws near

The Central Bank of Egypt (CBE) on Thursday lowered its key interest rates by 100 basis points, or 1 percent, the CBE reported.

The CBE said in a statement that its Monetary Policy Committee (MPC) decided to cut the deposit rate to 20 percent, the lending rate to 21 percent, and the rate of the main operation to 20.5 percent, while also reducing the discount rate to 20.5 percent.

"This decision reflects the committee's updated assessment of inflation dynamics and outlook since the previous MPC meeting," it said.

According to an earlier CBE report, annual urban headline inflation in Egypt eased slightly to 12.3 percent in November, down from 12.5 percent in October, driven by a slowdown in food price inflation, which declined to 0.7 percent in November from 1.5 percent a month earlier.

This marks the fifth interest rate cut by Egypt's central bank so far this year.

Egypt cuts key interest rates by 1 pct as inflation slightly down