currency
Lebanese central bank says pound stable, urges fiscal reform
Middle East
August 7, 2018
Lebanese central bank says pound stable, urges fiscal reform
BEIRUT (Reuters) – Lebanon’s pound is stable and the central bank has the means to defend its stability, central bank…
Iran eases currency rules, hoping to buoy rial ahead of sanctions
Middle East
August 6, 2018
Iran eases currency rules, hoping to buoy rial ahead of sanctions
ANKARA (Reuters) – Iran will ease foreign exchange rules, state TV reported on Sunday, in a bid to halt a…
Iran currency extends record fall as U.S. sanctions loom
Middle East
July 30, 2018
Iran currency extends record fall as U.S. sanctions loom
DUBAI (Reuters) – Iran’s currency hit a new record low on Sunday, dropping past 100,000 rials to the U.S. dollar…
Four Egyptians arrested in Kuwait for selling $7 mn on the black market
Egypt
January 26, 2018
Four Egyptians arrested in Kuwait for selling $7 mn on the black market
Kuwaiti newspaper Al-Rai reported on Friday that four Egyptians have been arrested by Kuwaiti police for possession of $7 million,…
US dollar falls to 3-year low as world leaders visit Davos
Business
January 25, 2018
US dollar falls to 3-year low as world leaders visit Davos
The US dollar fell to a three-year low on Wednesday after Treasury Secretary Steven Mnuchin praised the devaluation of the…
Fitch Ratings raises Egypt’s financial outlook to ‘positive’
Business
January 17, 2018
Fitch Ratings raises Egypt’s financial outlook to ‘positive’
Fitch Ratings Inc., one of the three biggest credit rating agencies in the world, raised Egypt’s long-term Foreign-Currency Issuer Default…
US dollar continues to decline against euro
Business
January 12, 2018
US dollar continues to decline against euro
Gold prices rose on Thursday, nearing the highest level in four months, after a stronger tone from the European Central Bank (ECB) in…
Average yields on Egypt’s 3- and 7-year T-bonds rise at auction
Economy
January 9, 2018
Average yields on Egypt’s 3- and 7-year T-bonds rise at auction
Average yields on Egypt’s three-year and seven-year treasury bonds rose at an auction on Monday, central bank data showed. The…
Mideast Money: Surge in foreign fund inflows sets stage for Egyptian boom
Egypt
January 8, 2018
Mideast Money: Surge in foreign fund inflows sets stage for Egyptian boom
Encouraged by Egypt’s economic reforms, a major gas find, streamlined business rules and a devalued currency, investors are increasingly optimistic…
Egypt’s Dar al-Iftaa deems Bitcoin currency as forbidden in Islam
Egypt
January 1, 2018
Egypt’s Dar al-Iftaa deems Bitcoin currency as forbidden in Islam
Republican mufti Councellor Magdy Ashour issued a Fatwa (Islamic ruling) that deems the Bitcoin virtual currency as forbidden by…