At least $1 billion in cash has been smuggled into Iran as it seeks to avoid Western sanctions, a bigger figure than previously reported, Iranian officials and Western intelligence and diplomatic sources say.
Sanctions imposed by
Syrian traders who price goods in foreign currency will face up to 10 years in jail, the government announced on Sunday in a move aimed at stemming the increasing dollarisation of an economy crippled by two years of civil war.
Egypt has banned travellers from carrying more than $10,000 in foreign currency cash in or out of the country, as officials worry over pressure on its pound currency and a rush by Egyptians to withdraw their savings from banks.
Gadget giant Apple is avoiding billions of dollars in taxes by setting up small offices around the world to collect and invest the company's profits, The New York Times reported yesterday.
The report said an office in Reno, Nevada, whe
The largest lottery jackpot in US history - a whopping $656 million - will be shared by the buyers of three winning Mega Millions tickets in Illinois, Kansas and Maryland - but their identities remained a mystery, lottery officials said.
A dash for cash has overwhelmed gold's traditional status as a haven from risk, putting the metal on course for its first quarterly fall since end-September 2008, when the global credit crunch was at its worst.
Investors said gold coul
Egypt's foreign reserves will plunge by a third to $15 billion by the end of January and the budget deficit will grow, possibly leading to a review of sensitive subsidies, an army official said.
Reserves have tumbled since the uprising tha
Expensive dollar funding kept United Arab Emirates one-year currency forwards near a 15-month low on Thursday, implying a stronger currency, while UAE interbank benchmark rates stayed at seven-year lows.
One-year dirham forwards were quote
Dubai Customs inspectors at Dubai International Airport recently foiled an attempt to smuggle fake banknotes of US dollars with a total value of $ 56,500.
The currencies were possessed by a female passenger coming from an Asian country who