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Current Account

Saudi surplus shrinks to $134bn in 2013

Saudi Arabia's current account surplus shrank to 503.7 billion riyals ($134.3 billion) in 2013 from 617.9 billion riyals in the previous year, central bank estimates showed on Wednesday.      The 2013 surplus acc

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Egypt current account swings back into red

Egypt's current account recorded a deficit of $755.8 million in the six months ending December, swinging back into the red after billions of dollars of Gulf aid helped it record a surplus in the three months ending September.

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Weak tourism, remittances hurt Egypt

Egypt's non-oil imports fell sharply in the second quarter, but tourism receipts and worker remittances together fell by even more, causing the country's current account deficit to widen, according to central bank figures released on T

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Egypt current account deficit falls to $5.58bn

Egypt's current account deficit narrowed to $5.58 billion in the fiscal year to end-June from $10.15 billion in the year to end-June 2012, the central bank said on Tuesday. Foreign direct investment into Egypt fell to $3.00 bi

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UAE surplus hits $67bn in 2012

The United Arab Emirates' current account surplus jumped nearly 31 percent to 244.4 billion dirhams ($66.5 billion) in 2012 from the previous year as hydrocarbon exp

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Qatar C/A surplus widens to $62bn in 2012

  Qatar's current account surplus has widened to QR226.9 billion ($62.3 billion) in 2012, or 32.4 per cent of gross domestic product, the central bank's preliminary data showed, beating analysts' expectations.

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Indian rupee slumps to record low

The Indian rupee slumped to a record low against the dollar on Wednesday as risk aversion in global markets added pressure on a currency already under fire from the country's current account and fiscal deficits.     

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Kuwait current account surplus jumps to $70bn

Kuwait's current account surplus surged 78 percent in 2011 mainly thanks to a jump in exports, the country's central bank said on Wednesday.  The current account of one of the world's top oil exporters booked a surplus of 19.53 billi

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NBAD launches unique current account

The National Bank of Abu Dhabi (NBAD), a leading bank in the UAE, has launched a premier current account that offers customers a unique blend of financial and non-financial benefits and privileges. The NBAD One account, which comes with no

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UAE current account surplus jumps to $11bn

The United Arab Emirates' current account surplus jumped by 43 percent to Dh41.3 billion ($11.2 billion) in 2010 from the previous year. The increase is mainly due to higher oil prices, preliminary central bank data showed on Sunday.

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