Brent, WTI crude futures rise over 1%
energy1 hour ago
Shortages of US dollars hit money exchange houses in Qatar on Sunday, making it harder for worried foreign workers to send money home, as foreign banks scaled back business with Qatari institutions because of the region's diplomatic crisis.
?We have no dollars because there is no shipment or transportation from the UAE. There is no stock," said a dealer at the Qatar-UAE Exchange House in Doha's City Center mall. "The shipment is blocked from the UAE."
Several other exchange houses in Doha also said they had no supplies of dollars. At Qatar-UAE Exchange, dozens of people - some of the foreigners who comprise nearly 90 per cent of the population of 2.6 million - waited quietly in line to change money or make remittances to their home countries.
"I spoke with my wife this morning. She said, 'Send your savings to me now.' I am not panicked but my family are scared," said John Vincent, an air-conditioning repairman from the Philippines.
"I sent 2,000 riyals ($550) home but I have some more savings left here in Qatar. I will see what the situation is in coming days before I decide what to do."
The dollar shortages show how the diplomatic crisis is disrupting parts of the financial system of a country, which is one of the richest states in the world per capita. - Reuters
Brent, WTI crude futures rise over 1%
energy1 hour ago
The summit shone a spotlight on key sectors of collaboration
business1 hour ago
Sharjah developer seeks to meet demand with new housing options
business1 hour ago
Haaland has scored just twice in the last eight games
sports1 hour ago
Programme supports research-based agricultural innovations across the Menat region
business1 hour ago
General Abdullah Alhashmi lauds UAE females for winning seven golds that highlighted Team UAE’s medal haul in Muscat, Oman
sports1 hour ago
Hundreds of people, some in Santa hats and others holding up placards with meat orders, gather in Smithfield's Victorian market building
europe1 hour ago
Biden commuted the sentences of 37 out of 40 federal inmates on death row, converting them to life in prison without parole
americas1 hour ago