Egypt weighs burden of IMF austerity
©Reuters Egypt’s Islamist authorities are squeezed between difficult alternatives as the country’s deepening economic woes and dwindling foreign currency reserves cause cuts in crucial state fuel and wheat imports. A…
Western governments struggle with Syria
What to do about Syria? Two years after the outbreak of the revolt against the regime of Bashar al-Assad and the world is no wiser. Gruesome milestones are crossed, words…
Iranians go nuts at pistachio prices
©AP As Iranians look forward to their Persian new year festivities, they stock up on the pistachios that they traditionally serve over the holiday period. But this year they are…
US tells Egypt to fix economy and strike IMF deal
CAIRO, March 2 – Egypt’s need to get the economy back on its feet is paramount and urgent, and the government should strike a loan deal with the IMF, US.…
Abu Dhabi pursues hard line on price for projects
©Corbis Major western European and US construction companies that hoped to benefit from the ambitious building plans of oil-rich Abu Dhabi are struggling to make it worth their while as…
Egypt needs more than an IMF loan
As Egypt teeters on the brink of an economic abyss, both the country’s Muslim Brotherhood rulers and its Western partners are pinning their hopes for a last-minute rescue on a…
US senators press EU on Iran sanctions
A bipartisan group of US senators on Monday pressed the EU to deny Iran access to its euro-denominated foreign exchange reserves, in a new push to tighten sanctions ahead of…
US oil imports from Middle East increase
The US was more reliant on the Middle East for its oil imports last year, underscoring the critical importance of the politically unstable region for the country despite the growing…
ECB faces US pressure over Iran
©Bloomberg The US Congress is preparing new Iran sanctions legislation that would target the European Central Bank’s system for settling cross-border bank payments. The proposed bill is part of a…
Currency crisis hits Egypt’s wheat supply
©Reuters An Egyptian protests in Tahrir Square this month at the high price of goods Egypt, the world’s largest wheat importer, is struggling to buy the staple in the international…