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Jeddah, Jumada II 23, 1435, Apr 23, 2014, SPA -- Prince Saud Al-Faisal, Minister of Foreign Affairs, received here today Foreign Minister of the Republic of Uruguay Dr. Luis Almagro. During...

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Berlin, Ramadan 23, 1432, Aug 23, 2011, SPA -- A leading member of Chancellor Angela Merkel's
government called Tuesday for cash-strapped eurozone members to use
their gold reserves as collateral for any future bailouts, according to dpa.

Labour Minister Ursula von der Leyen said in the future that money
from the European Union-led rescue fund should only be paid out when
the states receiving the assistance provided collateral.

Von der Leyen believes that the gold reserves and industrial
holdings held by many nations could be used as collateral for loans,
according to information from German public television.

The Labour Minister, who is a vice president of Merkel's
conservative Christian Democrats (CDU), is also member of a special
new CDU party commission set up to review the debt crisis gripping
parts of the 17-state eurozone.

The commission was established following conflict within the ranks
of the CDU over how to deal with the financial problems facing
members of the currency bloc.

Von der Leyen's comments also came amid signs of fresh tensions
among eurozone members over the 109-billion-euro second rescue
package for Greece, which is due to be pieced together next month.

About five eurozone states, led by Finland, have been calling for
Greece to provide collateral before agreeing to the second bailout

The price of gold has surged this year amid a flight to safety by
investors unnerved by the turmoil in share markets, which has been at
least in part triggered by the eurozone debt crisis.

Gold climbed to a record high Tuesday, when it breached the key
1,900-dollar an ounce mark.

18:01 LOCAL TIME 15:01 GMT
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Jeddah, Jumada II 23, 1435, Apr 23, 2014, SPA -- Prince Saud Al-Faisal, Minister of Foreign Affairs, received here today Foreign Minister of the Republic of Uruguay Dr. Luis Almagro. During the meeting, they reviewed bilateral relations and discussed the current international situation...
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Washington, Jumada II 23, 1435, Apr 23, 2014, SPA -- Surging jet production helped Boeing Company post a 14 percent increase in adjusted net profit in the first quarter, and the aerospace giant lifted its full-year forecast. Revenue at the world’s biggest airplane maker rose 8 percent to...
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At the end of the ceremony, the Crown Prince addressed the following speech: I am pleased to be among you today and I am honored to attend on behalf of the Custodian of the Two Holy Mosques this meeting in Umm Al-Qura, the Qiblah of Muslims, which enjoys special care from our King and State....
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PARIS, Jumada II 23, 1435, Apr 23, 2014, SPA -- The French government has raised its public deficit forecasts amid slow growth, but is still pledging to meet the European Union deficit target of 3 percent next year, AP reported. A plan aimed at reducing France's debt over the next three...
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Madinah, Jumada II 23, 1435, Apr 23, 2014, SPA-- A number of senior officials and dignitaries have commended Prince Naif bin Abdulaziz International Contest for Memorization of Prophet's Sunnah and Contemporary Islamic Studies as one of the most pioneering and outstanding competitions...
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