Middle-east Arab News Opinion | Asharq Al-awsat

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Egypt has been struggling to boost its foreign currency reserves in the political and economic turmoil following the January 2011 uprising that toppled former ruler Hosni Mubarak ©Patrick Baz (AFP/File)

Egypt’s Pound Devalued After a Currency Float

by Sabri Najeh | Nov 4, 2016 | Business

Cairo- Egypt’s Central Bank on Thursday took a “historic” but nevertheless dangerous step when it decided to devaluate its local currency, a decision expected by several observers after the Egyptian Pound fell to its historic levels, exceeding the official price by...

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UK Tourism Boosted after Brexit Weakens Pound

by Asharq Al-Awsat English | Aug 8, 2016 | World

Flight bookings to the UK rose 4.3 percent following the country’s vote to leave the European Union, reported travel analytics firm ForwardKeys on Monday. The rapid rise in the number of inbound flight reservations reversed the 2.8 percent decline in bookings in the...

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A worker rolls a sheet of leather at Justin Paul, a handbag manufacturer in Brooklyn. Brexit has reinforced the dollar as the foundation of global finance, but a stronger dollar hurts exports. Michael Nagle/Bloomberg

Taking Refuge in Dollar Could Expose World Economy to New Perils

by Peter Goodman | Jul 6, 2016 | Business

It is known as the flight to safety, yet it may be leading the global economy toward fresh danger. In the week since Britain stunned the world with its vote to quit the European Union, coloring markets in uncertainty, investors have dumped much that seems risky — the...

Pound Surges amid Apparent Support for U.K. to Remain in European Union

by Asharq Al-Awsat English | Jun 20, 2016 | Business

London-The pound and global stock markets surged Monday as both opinion polls and betting markets suggested an increase in support for Britain to remain in the European Union in the final crunch week of the vote. The death of a pro-Europe lawmaker in a gun and knife...