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Egypt clamp on carrying cashEgypt 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. More… |
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Rebel funds help Syria's war-battered poundIn Syria's eastern town of Deir al-Zor, a rebel commander flush with cash was swapping his dollars for Syrian pounds to pay fighters battling President Bashar Al-Assad's forces. Money ch More… |
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Apple 'avoiding billions of dollars in taxes'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 More… |
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Three tickets win record $656m in US lotteryThe 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 More… |
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Gold set for quarterly fall on run for cashA 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 More… |
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Egypt's foreign reserves seen plungingEgypt'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 More… |
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UAE FX forwards near 15-month lowExpensive 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 More… |
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Dubai Customs foils smuggling bidDubai 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 More… |
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Iran to sell 45 billion euros from reservesIran's central bank will sell 45 billion euros ($54.95 billion) from its reserves to buy dollars and gold ingots, a report on the website of state-owned Press TV said on Wednesday. There was no announcement of the sale on the bank' More… |
