Middle-east Arab News Opinion | Asharq Al-awsat

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An employee stamps stacks of Syrian pound notes at the Syrian central bank in Damascus April 23, 2013. (Reuters/Khaled Al-Hariri)

Experts warn against holding, purchasing collapsing Syrian pound

by Fatah Al-Rahman Youssef | Jun 22, 2013 | Business

Riyadh, Asharq Al-Awsat—Many Syrian traders have converted their Syrian pound-dominated assets to dollars for fear of losing their value, given the growing unrest in Syria and the destruction of its infrastructure. The Syrian pound has lost 77% of its value since the...

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(FILES) – Picture taken on November 8, 2012 shows Euro banknotes projected on a screen during a press conference following the meeting of the European Central Bank (ECB) Governing Council in Frankfurt am Main. The European Commission on June 5, 2013 gave Latvia a green light to join the 17-nation eurozone in January, saying the country had fulfilled the conditions to join the single currency. (AFP PHOTO / DANIEL ROLAND)

Latvia gets go-ahead to become 18th euro member

by Asharq Al-Awsat | Jun 6, 2013 | Business

Frankfurt, AP— The tiny Baltic state of Latvia has won approval to become the 18th member of the troubled euro currency union – despite doubts among many of its people and international concerns about its banking system. European Union officials said...

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A man pass by anticapitalist graffiti in dowtown of Nicosia, Cyprus, 19 March 2013. The Cyprus parliament is set to vote 19 March on ratification of a one-off tax on bank deposits, following a postponement to allow for consultation. Source: EPA/FILIP SINGER

Cyprus Proposes To Exempt Small Savers From Deposit Tax

by Asharq Al-Awsat | Mar 19, 2013 | World

Nicosia, Reuters—Cyprus’s government proposed on Tuesday to spare small savers from a divisive levy on bank deposits but said it expects parliament to reject the measure, needed to secure an international bailout and avoid default and a banking collapse. Unless...