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Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

How much gold and forex do Arab countries have?

Foreign exchange and gold reserves come in handy in many ways when a country is trying to ride out an economic crisis.
  • Foreign exchange reserve usually refers to how much foreign currency a country or its apex financial institution holds in reserve
  • Gold reserve is a similar tranche, except that it pertains to the yellow metal that has been purified to a standardized degree

The number of factors that can affect a country’s economy is already quite large, and increasing with each passing year.

With such vagaries at play, countries often turn to building foreign-exchange and gold reserves to help them ride out tumultuous periods.

Foreign exchange reserve usually refers to the amount of foreign currency — usually measured in US dollars — a country or its apex financial institution, which is often its central bank, holds in reserve.

Gold reserve is a similar tranche, except that it pertains to the yellow metal that has been purified to a standardized degree.

These come in handy when a country has to, for example, pay for imports when its own currency is devalued.

It also comes in handy in times of economic crises, because the dollar is considered a benchmark currency of sorts, and gold seems like a safe bet.

Here’s a look at which Arab country holds how much in forex and gold reserves: