Foreign reserves down in November
Central Bank of Egypt (CBE)
Cairo - MENA
The Central Bank of Egypt (CBE) said Sunday the country's foreign currency reserves were down $1.027 billion in November.
Forex reserves hit $15.882 billion at the end of November against $16.909 billion in October, the CBE said in a press statement.
Egypt's net foreign reserves have plunged more than half the volume since the 2011 uprising, which scared off tourists and investors – both considered main sources of foreign currency for Egypt.
In January 2011, Egypt's net reserves stood at some $36 billion.
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Two months after legendary designer Azzedine Alaia's sudden death plunged the fashion world into mourning, an exhibition in homage to the "King of Cling" opens Monday in his studios in Paris. The Tunisian-born designer, renowned for the way his clothes hugged the body, died suddenly in November aged 82, reportedly of heart failure after falling down the stairs at his home. The diminutive maverick, who ignored fashion week convention by showing when and where he wanted, in July produced his first couture collection in six years to rapturous reviews. Now some of his most iconic dresses are going on display in the glass-roofed gallery next to his studio and home in the Marais district where he used to show his creations. It includes the dress worn by supermodel Naomi Campbell, his longtime friend and muse, when she led
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