Middle-east Arab News Opinion | Asharq Al-awsat

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U.S. one-hundred dollar bills are seen in this photo illustration at a bank in Seoul August 2, 2013. Picture taken August 2, 2013. South Korea’s foreign reserves jumped to a record high in July, the central bank said on August 5, 2013, appearing to support traders’ suspicions of dollar-buying intervention by currency authorities last month. […]

Egypt foreign reserves jump to USD 18.8 bn in July

by Asharq Al-Awsat | Aug 5, 2013 | Business

Cairo, AP—Egypt’s central bank says the country’s foreign reserves stood at USD 18.8 billion at the end of July, a jump of nearly USD 4 billion from the previous month. The bank did not provide details on the influx of cash, but the sharp rise comes after...

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Egyptians wait for customers in an alley of the historic Khan El-Khalil market in Islamic Cairo on July 13, 2013. (AFP Photo/Marwan Naamani)

Egypt: Gulf aid is a temporary solution, say experts

by Asharq Al-Awsat | Jul 14, 2013 | Business

Cairo, Asharq Al-Awsat—Experts say that billions of dollars pledged by Gulf states to Egypt in recent days will help the recovery process of the country, which has recently teetered on the brink of bankruptcy. Saudi Arabia, the UAE and Kuwait, donated USD 12 billion...

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Supporters of deposed Egyptian president Mohamed Morsi hold portraits of him and national flags during a rally on July 9, 2013 outside Cairo’s Rabaa al-Adawiya mosque (AFP PHOTO / MAHMUD HAMS)

Saudi Arabia and UAE promise Egypt billions in aid

by Mahmud El Shafey | Jul 10, 2013 | Business

London, Asharq Al-Awsat—The governments of Saudi Arabia and the United Arab Emirates offered over USD 8 billion in aid to Egypt on Tuesday, in the wake of the toppling of Egyptian president Mohamed Mursi. The move will decrease some of the pressure on Egypt’s foreign...