The U.S. dollar was stronger against a basket of other currencies on Monday ahead of an expected Federal Reserve rate cut on Wednesday.
Industry

UAE, Saudi Arabia provide US$3 billion support to Sudan

The United Arab Emirates (UAE) and Saudi Arabia have announced a joint initiative to support the brotherly people of Sudan. The initiative will see the delivery of US$3 billion in assistance to Sudan.

The assistance bundle entails $500 million deposit into Sudan’s central bank to strengthen the country’s liquidity and monetary reserves. The remaining amount will be dedicated to support the people of Sudan, across food, medicines, and fuel derivatives.