Arab States Weekly Review 19th – 25th June 2010

According to the World Gold Council, Saudi Arabia’s gold reserves were said to be more than twice as high as previously estimated. The Kingdom is thought to hold 323 tonnes of gold, accounting for only 2.8% of the Saudi central bank’s total reserves.

Iraq’s minister for electricity resigned after protests following a failing energy supply in certain areas. Many towns had energy for less than 3 hours per day, amid temperatures of 50 degrees Celsius.

The Baghdad headquarters of the Trader Bank of Iraq was attacked by insurgents thought to be linked to Al-Qaeda, killing at least 26 people. The assault followed the storming of the country’s central bank last week, leaving at least 18 dead.

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