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THE TRUTH ABOUT: 6 - Caught on Camera

Brazil government does not plan to interfere in central bank, says minister

Brazil's government does not intend to make changes to the country's central bank, Institutional Relations Minister Alexandre Padilha said on Thursday, seeking to appease markets after leftist President Luiz Inácio Lula da Silva's public criticism of the institution.

Reuters

Vacuum Threatens Vital State Positions in Lebanon

Institutional collapse in Lebanon is accelerating in a way that has left the country unable to manage the crises it has been facing for the past three years. Vacuum not only ails the Lebanese presidency or government, but it also threatens vital state positions. For example, the mandate of Central…

Asharq Al-Awsat

Cuba says vulture fund seeking 72 million euros never a creditor as UK court begins proceedings

Cuba's Central Bank on Friday lashed out against a "vulture fund" seeking to cash in on unpaid government debt lingering from the era of former leader Fidel Castro, calling illegitimate its claims against the Communist-run island in a London court.

Reuters

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European legal team arriving in Lebanon in corruption probe

Lebanon's justice minister says a European judicial delegation from France, Germany, and Luxembourg has started to arrive in Lebanon to probe the country’s Central Bank governor and dozens of other individuals over suspected corruption

The Independent UK

A Quarter of Iraq's Population Lives Below the Poverty Line

A quarter of Iraq's population lives below the poverty line, despite the estimated $100 billion reserves at the Central Bank of Iraq, the largest in the country's modern history, according to bank sources. Economists and finance experts believed Iraq's problem was not related to its wealth but to lousy management…

Asharq Al-Awsat

Egypt's inflation surges on amid currency's dramatic slide

Egypt's statistics bureau says the nation is continuing to battle surging inflation amid a dramatic slide of its currency as many Egyptians struggle with price hikes

The Independent UK

Lebanese Parliament Won’t Legislate 'Writing Off’ Bank Deposits

Lebanon’s Deputy Speaker Elias Bou Saab pledged Monday that Parliament will never agree to legislate any law that would write off deposits in Lebanon’s banks. Bou Saab was speaking following a session of the joint parliamentary committees devoted to resuming the discussion of the capital control bill. “There is hope…

Asharq Al-Awsat

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Egypt Government Moves to Control Currency Exchange Rate

The Egyptian government pledged to “control the market,” stressing that the US dollar crisis is on its way to being resolved. It has also sought to crack down on currency dealers in the “black market.” The value of the Egyptian pound declined against the US dollar following the Central Bank’s…

Asharq Al-Awsat

Tunisia Central Bank Raises Key Rate by 75 Bps to Curb Inflation

Tunisia’s central bank on Friday raised its key interest rate by 75 basis points to 8% from 7.25% to combat high inflation, the bank said, marking the third hike this year. Tunisia's inflation rate jumped to a record 9.8% in November from 9.2% in October. "Through this action, the Central…

Asharq Al-Awsat

Yemeni Government Accuses Houthis of Exploiting Truce to Increase Looting

The Central Bank of Yemen in Aden affirmed its commitment to the monetary policies it set to protect the local currency from collapse and maintain the stability of the markets. In parallel, Information Minister Muammar al-Eryani accused the Houthi militia of exploiting the truce to double the looting of resources…

Asharq Al-Awsat

Understanding stagflation

Stagflation is a real problem for policymakers because the Central Bank can increase interest rates to reduce inflation or cut interest rates to reduce unemployment.

Fortune

Russia's economy is still working but sanctions are starting to have an effect

Despite unprecedented sanctions, Russia's economy is still functioning and it's still attacking Ukraine. That's led to questions about whether the sanctions are effective.

WEKU

Iraqi Dinar Continues to Weaken against US Dollar

Iraq’s currency plummeted to a new low against the US dollar. In the northern Kurdistan region, the rate stood at 1,550 Iraqi dinars to the dollar - the lowest it has traded since 2004, according to experts. The depreciation in the dinar’s value triggered a wave of severe anxiety in…

Asharq Al-Awsat

Missed inflation target, digital currency pilot mark RBI's 2022 map; growth vector to dominate ahead

MUMBAI: The Reserve Bank of India failed to deliver on its contracted inflation target for the first time, started fiat digital currency pilot and finally saw its efforts to improve bank balance sheets see fruition in 2022, making it a mixed year for the central bank.

The Times of India

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Asharq Al-Awsat

UAE Central Bank Sees GDP Growth at 7.6% This Year

The UAE’s central bank expects real gross domestic product growth of 7.6 percent this year from its previous forecast of 6.5 percent, citing stronger performance of non-oil sectors including tourism, hospitality, real estate, transportation, and manufacturing. In quarterly review report for the third quarter of this year, the Central Bank…

Asharq Al-Awsat

Iran Central Bank Governor Blames Protests for Currency’s Fall

Iran's central bank governor on Saturday partly blamed recent anti-government unrest for the fall of the Iranian currency to record lows, while authorities detained a prominent actress who had voiced support for protesters. The unrest also saw groups of oil workers holding protests on Saturday to demand higher wages, according…

Reuters

Iran central bank governor blames protests for currency's fall

Irish Mirror

Almost two-thirds of Irish people in favour of scrapping one cent and two cent euro coins

The Eurobarometer poll surveyed almost 18,000 people across the euro area, including over 1,000 in the Republic, in October

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Asharq Al-Awsat

Saudi Arabia to Expedite Opening of Accounts for Foreign Companies

The Saudi Central Bank (SAMA) has called on local banks to facilitate and speed up the procedures for opening accounts for foreign companies, in order to encourage them to transfer their regional headquarters to the Kingdom. The step is aimed at strengthening the country’s economy, providing employment opportunities, and boosting…

The Independent UK

Lebanese actress linked to Central Bank governor arrested

Lebanese judicial officials and the state-run National News Agency say an actress with links to the country’s Central Bank governor has been placed under arrest after showing up for questioning

Irish Mirror

Lifting restrictions on banking 'bonanza pay and bonuses' slammed as 'galling'

Roisin Shortall called on the Minister for Finance Paschal Donohoe to justify his decision to lift salary pay caps of €500,000 for senior bank management

Asharq Al-Awsat

Lebanon’s Central Bank Says Audit of Gold Reserves Completed ‘Successfully’

Lebanon’s Central Bank announced on Friday that the audit of the bank’s gold reserves- coins and ingots- which came at the request of the International Monetary Fund, has been completed “successfully.” The bank said that the amount of gold bullions declared corresponded exactly with the quantity of gold in its…

Asharq Al-Awsat

Lebanon: Tenfold Increase in Customs Duties

The Ministry of Finance announced on Wednesday that the government will start collecting customs duties with a tenfold increase, starting the first of December. The announcement came a day after the Governor of the Banque du Liban said that the official exchange rate of the dollar would be raised to…

Al Jazeera

As Russia’s war in Ukraine drags on, Turkey’s role expands

Turkish President Erdogan has maintained regular contact with Putin and economic ties despite Western sanctions.

Asharq Al-Awsat

Lebanon’s National Currency Tumbles as Central Bank Issues ‘Ambiguous’ Measures

The Lebanese pound exchange rate on the black market has slid to nearly LBP 40,000 to the US dollar amid conflicting reports about a delay in new regulatory measures that the Central Bank is preparing to take, which requires raising the price of allowances for withdrawals from hard currencies. In…

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Luiz Inacio Lula da Silva

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