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Saudi firm delays Sudan deal over dollar curbsA Saudi firm will hold off its planned project in Sudan to produce wheat and other basic food items until the government eases a ban to repatriate profits, its head said on Monday. Sudan, prized for its fertile land and easy acces More… |
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Gold falls again; may re-test April lowsGold dropped for the sixth consecutive session on Thursday, hitting its lowest level in four weeks, on a stronger dollar and battered investor sentiment. Ra More… |
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Firm dollar hits oil, gold, sharesOil and gold prices fell on Monday as the dollar strengthened, dragging Asian shares lower, but Japanese equities outperformed on the back of the yen's slide to a fresh 4-1/2-year low against the US currency. Investors remaine More… |
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Iran withdraws cheap dollars for most importsIran has stopped providing subsidised dollars for the import of most basic goods, Iranian media reported, a move that could push soaring consumer prices even higher in the run-up to a presidential election in June. The Iranian ria More… |
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Currency shortages hit Vodafone EgyptForeign exchange shortages are making it harder for Vodafone's Egyptian business to buy network equipment and it has asked some suppliers to accept payment in Egyptian pounds, its local chief executive said. Two years of econo More… |
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Gold hits 10-month low on strong dollarGold hit a 10-month trough below $1,540 an ounce on Thursday as the dollar strengthened ahead of a statement by European Central Bank chief Mario Draghi, after the bank left rates on hold as expected at its latest policy meetin More… |
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In Egypt, dollar and optimism in short supplyAfter two years of political upheaval and weakness in the economy, companies in Egypt are struggling with a sinking currency and a shortage of foreign exchange, forcing some to make painful changes to their business plans. More… |
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Egypt tries to attract foreign investment in state debtEgypt has opened a scheme allowing foreign investors in its financial markets access to dollars despite a hard currency shortage, a move which analysts said aimed to attract external funding for the soaring state budget deficit More… |
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Sterling slides to lowest since June 2010 vs dollarSterling slipped to a fresh 2-1/2 year low against the dollar on Tuesday after dismal British manufacturing data revived fears of another recession and increased bets of more easing by the Bank of England. UK industrial output une More… |
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Struggling sterling hits 2-1/2 year lowSterling hit a 2-1/2 year low against the dollar on Monday as hedge funds and long-term investors sold, seeing the pound as susceptible to more weakness given contrasting outlooks for the British and US economies. More… |
