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GCC will stick to currency dollar pegs: FitchGulf countries' currency pegs to the dollar are under pressure from low oil prices and a stronger dollar but there is no chance of them being abolished, ratings agency Fitch said on Tuesday. Oil exporters in the region includi More… |
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Egypt's fiscal status may be worse than estimatedEgypt's crumbling public finances may be in even worse shape than previously estimated. While stock and bond markets have cheered the ouster of unpopular President Mohamed Mursi by the army and Egypt's debt insurance costs More… |
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Emirates has $4bn in reserves: Sheikh AhmedEmirates, Dubai's flagship carrier, has $4 billion in cash reserves, its chairman Sheikh Ahmed bin Saeed Al-Maktoum told Al-Arabiya television on Wednesday. Emirates placed a blockbuster order for 50 Boeing 777 jetliners at the Dubai Air S More… |
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Arab economy safe, 'ready to bear any shock'Arab finance ministers have shrugged off any threat to their economies from political upheaval and a global slowdown, saying ample cash reserves and mutual support would ensure they withstand new shocks. The 22 ministers promised to help e More… |
