Thursday 3 September 2015
 
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forex

Saudi forex under pressure as oil policy bites

Domestic macro costs of Saudi Arabia’s unchanged oil policy are likely to become more acute  and apparent, a report said, highlighting that safeguarding forex reserves will require deep budgetary cuts at current oil prices, rather tha

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Ezz Steel output hit by forex shortages

Egypt's largest steel maker Ezz Steel's first-quarter net loss increased to EGP136 million ($17 million) from EGP19 million ($2.4 million) in the same period last year, hit by foreign currency shortages, the company said on Thursday.

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Ezz Steel output hit by forex shortages

Egypt's largest steel maker Ezz Steel's first-quarter net loss increased to EGP136 million ($17 million) from EGP19 million ($2.4 million) in the same period last year, hit by foreign currency shortages, the company said on Thursday.

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Global banks admit guilt in FX probe, fined $6bn

Four major banks pleaded guilty on Wednesday to trying to manipulate foreign exchange rates and, with two others, were fined nearly $6 billion in another settlement in a global probe into the $5 trillion-a-day market. Citigroup In

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Turkey cbank hikes forex reserve requirements

Turkey's central bank raised foreign exchange reserve requirement ratios on Saturday, citing the need to support financial stability amid volatility in global markets. With the lira currency trading at record lows against the

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Kuwait to let banks trade forex derivatives

Kuwait's dinar rose sharply against the US dollar in the forwards market on Monday in response to news that the Kuwaiti central bank would allow local banks to deal in derivatives with foreign banks. Al Rai newspaper in Kuwait

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Egypt banks to stick to non-USD forex rates

The Egyptian central bank has instructed banks to 'strictly conform' to prevailing international market rates in trading of non-US dollar foreign currencies, according to a statement seen by Reuters. "Kindly note that

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ADS to enter UK in 2014, starts pricing yuan

Abu Dhabi-based forex and commodities trading firm ADS plans to gain a licence to operate in the UK by early next year and has become one of the first Middle East brokers to start pricing the Chinese currency for customers in the region, its man

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ADS launches multi-asset trading platform

ADS Securities, the Middle East's leading forex brokerage and one of the fastest growing FX trading companies globally, has announced the launch of its new multi-asset online trading platform. Orex Optim is the first proprieta

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Egypt foreign reserves climb to 20-month high

Egypt's foreign reserves jumped in July to their highest in 20 months, the central bank said on Monday, boosted by $5 billion that Gulf states sent to Egypt after the army removed Islamist President Mohamed Mursi from power on July 3.

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