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Britons dash for euros, dollars as EU vote nearsBritons have flocked to swap their pounds for euros and US dollars in the days running up to the European Union referendum, high street foreign exchange companies said on Wednesday. Most forecasters expect the pound to fall sharpl More… |
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Climate change puts trillions of dollars of assets at riskTrillions of dollars of non-bank financial assets around the world are vulnerable to the effects of global warming, according to a study on Monday that says tougher action to curb greenhouse gas emissions makes sense for investors. More… |
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Egypt central bank to hold $500m forex auctionEgypt's central bank said it would hold an exceptional auction on Sunday for $500 million to cover imports of strategic goods, pumping more foreign exchange into an economy that has been starved of dollars. Egypt, which relies More… |
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Air France-KLM urge Egypt to release stuck revenueAir France-KLM has urged Egypt to release upward of EGP100 million ($13 million) in revenue it is unable to repatriate due to an acute dollar shortage, saying the delays were making it increasingly difficult to operate in the country. More… |
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Saudi cbank foreign assets drop 1.9pc in NovNet foreign assets at Saudi Arabia's central bank fell 1.9 per cent in November from the previous month to SR2.356 trillion ($628 billion) as the government liquidated assets to cover a huge budget deficit caused by low oil prices. More… |
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Egypt cbank injects dollar liquidity into marketEgypt's central bank injected more foreign currency liquidity into the banking system in a surprise operation on Sunday, bankers said, the latest in a series of steps aimed at ending a foreign exchange shortage that had seen goods pile up at More… |
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Abu Dhabi police seize $10m fake notesThe Criminal Investigation Department (CID) at Abu Dhabi Police foiled an African gang’s attempt to sell and distribute counterfeit money amounting to $10 million. Colonel Dr Rashid Mohammad Borshid, head of the CID s More… |
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Iran smuggles in $1bn of bank notes: reportAt least $1 billion in cash has been smuggled into Iran as it seeks to avoid Western sanctions, a bigger figure than previously reported, Iranian officials and Western intelligence and diplomatic sources say. Sanctions imposed by More… |
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Syria limits foreign currency use, threatens jailSyrian traders who price goods in foreign currency will face up to 10 years in jail, the government announced on Sunday in a move aimed at stemming the increasing dollarisation of an economy crippled by two years of civil war. A d More… |
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Egypt clamp on carrying cashEgypt has banned travellers from carrying more than $10,000 in foreign currency cash in or out of the country, as officials worry over pressure on its pound currency and a rush by Egyptians to withdraw their savings from banks. More… |
