Friday 10 April 2020
cash reserves

GCC will stick to currency dollar pegs: Fitch

Gulf countries' currency pegs to the dollar are under pressure from low oil prices and a stronger dollar but there is no chance of them being abolished, ratings agency Fitch said on Tuesday. Oil exporters in the region includi


Egypt's fiscal status may be worse than estimated

Egypt's crumbling public finances may be in even worse shape than previously estimated. While stock and bond markets have cheered the ouster of unpopular President Mohamed Mursi by the army and Egypt's debt insurance costs


Emirates has $4bn in reserves: Sheikh Ahmed

Emirates, Dubai's flagship carrier, has $4 billion in cash reserves, its chairman Sheikh Ahmed bin Saeed Al-Maktoum told Al-Arabiya television on Wednesday. Emirates placed a blockbuster order for 50 Boeing 777 jetliners at the Dubai Air S


Arab economy safe, 'ready to bear any shock'

Arab finance ministers have shrugged off any threat to their economies from political upheaval and a global slowdown, saying ample cash reserves and mutual support would ensure they withstand new shocks. The 22 ministers promised to help e

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