Saturday 1 October 2016
 
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Currency

Egypt non-oil business activity slows in August

Business activity in Egypt shrank for the 11th consecutive month in August as data for output, new orders, and employment deteriorated, with purchase prices rising sharply amid a hard currency shortage, a survey on Monday found. T

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Egypt non-oil business activity slows in August

Business activity in Egypt shrank for the 11th consecutive month in August as data for output, new orders, and employment deteriorated, with purchase prices rising sharply amid a hard currency shortage, a survey on Monday found. T

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Gulf states must cut deficits to keep pegs: IMF

Gulf oil exporters must cut spending and narrow their budget shortfalls to keep their currencies pegged to the dollar, the International Monetary Fund said. While substantial foreign assets have allowed the six members of the GCC

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FERG launches drive against fake bank notes

The Foreign Exchange and Remittance Group (FERG), comprising businesses engaged in money exchange and remittances, recently organised a high-powered training session to raise awareness of counterfeited bank notes. The session, hel

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Morocco aims for flexible currency system

Morocco is aiming to introduce a flexible currency exchange system in the early part of 2017, its central bank governor said on Sunday. "We are considering the move currently from fixed exchange rate to a flexible exchange ra

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UAE cbank chief sees no pressure on dirham

The governor of the United Arab Emirates central bank said on Sunday that he doesn't believe there is any pressure on the country's currency and that any volatility seen in the forwards market has been limited. Mubarak Ras

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Commodity currencies at 10-month highs

Commodity currencies like the Australian and New Zealand dollars soared to 10-month highs against the US dollar, drawing support from oil prices which stabilised from a slide and underpinned broad risk sentiment in global markets.

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Commodity currencies at 10-month highs

Commodity currencies like the Australian and New Zealand dollars soared to 10-month highs against the US dollar, drawing support from oil prices which stabilised from a slide and underpinned broad risk sentiment in global markets.

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Suez Cement ‘profit transfers hit by FX crisis’

Suez Cement, which is 55 per cent owned by Italian firm Italicementi, is struggling to transfer shareholder profits out of Egypt because of a foreign currency crisis, the Egyptian firm said on Monday. Egypt has been struggling to

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Egypt launches scheme to lure expat dollars

Egypt launched a new scheme on Monday to encourage millions of Egyptians living abroad to pour their dollar savings into special certificates, as it tries to ease an acute shortage of foreign currency that has hit the economy. The

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