When two Egyptian banks refused to give Ahmed El-Rifai the dollars his digital media company needed to pay Facebook Inc. last month, he turned to a more reliable source: the black market at a premium of about 8 percent.
Egyptian authorities have agreed to return property taken in yesterday’s raids on the offices of U.S. organizations working to promote democracy in the Middle Eastern nation, State Department spokeswoman Victoria Nuland said in a statement.
The Egyptian government’s decision to press criminal charges against American pro-democracy workers is creating the deepest rift between the two nations in almost four decades and underscoring the shrinking U.S. influence in a rapidly changing Middle East.
More than 100 bankers claim Commerzbank AG broke a pledge by Dresdner Bank, which it bought in 2009, to set aside about $516 million for bonuses and are asking a U.K. court this week to order that they be paid.
Pakistan kept shut the main border crossing used to supply NATO troops in Afghanistan a day after the U.S. apologized for killing three Pakistani soldiers in the air strike that triggered the transit point’s closure.