Middle-east Arab News Opinion | Asharq Al-awsat

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People queue for subsidized bread in front of a bakery in Alexandria, in this June 2, 2013 file picture. (Reuters/Asmaa Waguih)

Egypt has enough wheat to last 5 months, says official

by Sharif Yamani | Jul 12, 2013 | Business

Cairo, Asharq Al-Awsat—Egypt, the world’s largest importer of wheat, has enough wheat stocks to meet domestic demand for the next five months, the vice chairman of the General Authority for Supply Commodities (GASC) said yesterday. Speaking exclusively to Asharq...

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File photo of people and vehicles are seen caught in a traffic jam in front of the Central Bank of Egypt’s headquarters in downtown Cairo. (Reuters/Amr Abdallah Dalsh)

Egypt’s foreign currency reserves hit USD 16 billion

by Sharif Yamani | Jun 7, 2013 | Business

Cairo, Asharq Al-Awsat—Egypt’s foreign currency reserves rose by USD 1.6 billion by the end of May, reaching USD 16.039 billion from USD 14.426 billion last April, the Central Bank of Egypt (CBE) has announced. The USD 3 billion deposited in the CBE last month by...

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A man carries bread on wooden racks to be sold to customers in Cairo, on April 11, 2013. (REUTERS/Amr Abdallah Dalsh)

Egypt Sells USD 600 mn to Import Basic Goods

by Asharq Al-Awsat | Apr 15, 2013 | Business

Cairo, Reuters—Egypt’s central bank sold USD 600 million to banks in a special auction of foreign exchange on Sunday to pay for wheat, meat, cooking oil and other essential imports to a country struggling with a currency crisis. The size of the auction—15 times...

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A Syrian refugee takes Syrian currency from the customers at his shop at Al Zaatri refugee camp in the Jordanian city of Mafraq, near the border with Syria February 21, 2013. (REUTERS)

Central Bank Governor on Syrian Pound’s Record Low

by Asharq Al-Awsat | Mar 25, 2013 | Business

London, Asharq Al-Awsat—The governor of the Syrian central bank, Adib Mayaleh, yesterday held his country’s citizens responsible for the declining exchange rate of the Syrian pound—which recently reached a record low of 123 pounds to the US dollar—because they are...