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