Net foreign assets at Saudi Arabia's central bank fell by $6.6 billion in August as the kingdom liquidated assets to cover a budget gap caused by cheap oil, official data showed on Monday.
The central bank, which serves as the
Egypt revised its budget deficit for the 2011/12 fiscal year sharply higher and its finance minister told Egyptians they would have to work harder to help plug this big gap between spending and revenue.
The deficit was 170 billion
Proceeds from Dubai's new $1.25 billion, two-tranche Islamic bond provide enough funds for the emirate to manage its budget deficits and refinancing plans, a senior government official said.
Dubai priced on Wednesday a $600 million 5-y