Home The Buzz Morning briefing: 28 Mar 2013

Morning briefing: 28 Mar 2013

Cyprus braced for bank rush, plus other news

by Executive Staff

Economics and Policy

Banks in Cyprus were due to reopen today after almost two weeks, amid heightened security measures to control the thousands of people expected to swarm branches demanding their money.

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A pledge by Syria's central bank on Sunday to take action to support the pound is already looking hollow, raising speculation the authorities may no longer be willing to burn up reserves defending the currency.

More from The Daily Star


Palestinians have welcomed news of an Arab fund to prevent further Israeli encroachment on East Jerusalem.

More from The National

Kuwait had a budget surplus of KD17.2 billion ($60.5 billion) in the first ten months of its fiscal year, preliminary budget data showed, thanks to robust oil income and lower-than-expected public spending.

More from Reuters


Egypt will import 900,000 barrels of oil a month from Libya starting in April and is paying off some of the money it owes to foreign energy firms, its oil minister said, in steps aimed at easing energy shortages that are hitting the economy.

More from Reuters


Companies and Business

The UAE has approved a $400 million loan to Serbia, boosting the Balkan country’s drive to find investors from outside the crisis-hit Eurozone to help pull it out of recession.

More from Reuters


The United Arab Emirates central bank has given initial approval to a proposal by the country’s commercial banks on setting limits for residential mortgage loans.

More from Reuters

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