Gulf Cooperation Council

Gulf monetary union to peg new currency against the dollar i

dry — Tue, 17 Nov 2009 01:57:47 GMT

Gulf monetary union to peg new currency against the dollar initially By Nadim Kawach on Monday, November 02, 2009 Four Gulf oil producers seeking to create the Middle East's first monetary union will likely peg their currencies to the US dollar in the first stages of the project before deciding on a final common currency, a Saudi bank said yesterday. Saudi Arabia, Kuwait, Qatar and Bahrain � four members of the six-nation Gulf Cooperation Council (GCC) � could also face challenges ...

High population growth in GCC crucial for global economy

dry — Tue, 17 Nov 2009 02:10:57 GMT

High population growth in GCC crucial for global economy By Sunil K Singh on Tuesday, November 17, 2009 The GCC has one of the fastest-growing populations in the world and by 2020 is forecast to increase by one-third, to 53 million people, said a report from the Economist Intelligence Unit (EIU) titled 'The GCC in 2020: The Gulf and its people'. The report said that demographic trends in the six-nation GCC would support the region's pivotal role in the global economy, while presenting ...

Iraq should be part of GCC

mochasmom — Tue, 10 Nov 2009 15:20:35 GMT

Iraq should be part of GCC � Al Hakim Gulf News Manama Iraq should be invited to join the Gulf Cooperation CouncilGulf Cooperation Council , Ammar Al Hakim, the leader of the Supreme Iraqi Islamic Council, Iraq's biggest Shiite party, has said. "Iraq is currently focusing on the unity of its people and the integrity of its territories. It is also working on national reconciliation and cohesion. A stable and unified Iraq will resume its Arab role in bridging gaps and contributing ...

Delay likely for Gulf single currency

wyogal — Mon, 02 Nov 2009 19:54:14 GMT

[size=9] Delay likely for Gulf single currency[/size]Web posted at: 11/2/2009 4:17:45 Source ::: AFP/Reuters kuwait city: Gulf states plan to launch their monetary council, a precursor for a joint central bank, in 2010 but the planned single currency may be delayed, the Saudi central bank chief said yesterday. "The (Gulf) monetary council will be established in 2010. It will be entrusted to complete other procedures," Mohammad Al Jasser, head of the Saudi Arabian Monetary ...

'GCC members recognize right to peaceful nuclear technology'

wyogal — Fri, 30 Oct 2009 22:00:53 GMT

'GCC members recognize right to peaceful nuclear technology' Kuwait News Agency - 30 October, 2009 Deputy Chairman of Kuwait's National Security Apparatus (NSA) Sheikh Thamer Ali Al-Salem Al-Sabah said here on Thursday his country as well as all GCC member states recognized the rights of all nations to possess nuclear technology for peaceful purposes. "In the meantime the GCC states are against any bids to start nuclear arms race in the region," Sheikh Thamer told KUNA ...

Call for More GCC Political Reforms

wyogal — Tue, 27 Oct 2009 03:01:39 GMT

Cool! Call for More GCC Political Reforms 27 October 2009, DUBAI �Archbishop Desmond Tutu, winner of the 1984 Nobel Peace Prize, on Monday called for more political reforms and greater empowerment of women in the Gulf countries. The South African rights campaigner, speaking to Khaleej Times after his address at the Leaders in Dubai Business Forum 2009, praised the Gulf countries for their remarkable people welfare measures and economic development, but said more ...

UAE to return to GCC currency

dry — Thu, 22 Oct 2009 02:33:40 GMT

UAE to return to GCC currency KUWAIT: The Gulf Cooperation Council''s (GCC) General Secretariat has begun preparations for the Council''s 30th summit due to be held in Kuwait from Dec. 14 to 16. Sources have told AlـWatan that the United Arab Emirates is likely to announce its return to the single Gulf currency after it had officially announced its withdrawal from the monetary union earlier this year. Regarding the ongoing preparations, a source close to the secretariat intimated ...

Arabian Gulf hydrocarbon projects worth US$690 billion

dry — Wed, 21 Oct 2009 11:29:28 GMT

Arabian Gulf hydrocarbon projects worth US$690 billion New Proleads investigation assesses impact of global slowdown on economically vital GCC oil, gas and petrochemical sectors Dubai, 18 October 2009: A full 30% by value of hydrocarbon projects in the Gulf Arab countries have been put on hold or cancelled according to a new report* published today by Dubai-based research house Proleads Global. The report shows, however, that the Gulf Co-operation Council (GCC) countries ...

GCC ministers to discuss regional development bank

wyogal — Sat, 17 Oct 2009 15:53:33 GMT

[size=16] GCC ministers to discuss regional development bank[/size][size=16] [/size] [size=16]Web posted at: 10/17/2009 1:2:20 Source ::: REUTERS MUSCAT: Finance ministers of the six nations that form the Gulf Cooperation Council (GCC) will discuss a proposal for a regional development bank similar to Europe�s, the top GCC official said yesterday. Finance ministers and central bank governors from the GCC states are meeting in Muscat to set the agenda for the rulers� summit in Kuwait ...

A GCC Currency Pegged to Dollar won�t Benefit Region: Standard Chartered

mochasmom — Thu, 15 Oct 2009 18:47:50 GMT

15 October 2009 DUBAI � A common Gulf currency that is pegged to the US dollar will not benefit the region as most countries in the GCC, with the exception of Kuwait, have their currencies already linked to the greenback, said a senior official of Standard Chartered Bank  on Wednesday. Effectively, the GCC already has a single currency because of the common dollar peg. So the new unified currency, if denominated in dollar, will not make any difference, said Marios Maratheftis, ...

Details of GCC Monetary Union Agreement

mochasmom — Tue, 13 Oct 2009 21:23:22 GMT

13/10/2009 By Salman Dossari Abu Dhabi, Asharq Al-Awsat- Informed GCC sources have revealed to Asharq Al-Awsat the details of the GCC Monetary Union Agreement, which prohibits the GCC institutions and governmental departments from giving any instructions to the GCC Central Bank, and the national central banks and any member of its executive bodies. This is in order to secure the independence of the GCC Central Bank. Article 21 of the agreement also prohibits the national ...

GCC civil service ministers meet in Muscat

wyogal — Tue, 13 Oct 2009 20:19:48 GMT

　 GCC civil service ministers meet in Muscat Politics 10/13/2009 7:07:00 PM MUSCAT, Oct 13 (KUNA)--- The Eighth Meeting of the GCC Civil Service Ministers kicked-off at Barr Al Jissah Resort here on Tuesday with GCC Secretary-General Abdulrahman Al-Atiyyah attending. The meeting, chaired by Omani Minister of Civil Service Sheikh Mohammed Bin-Abdullah Al-Harthi, will discuss a host of important issues and projects including the guidelines of the GCC strategy for development ...

Kuwait supportive of issuance of GCC currency as scheduled

day dreamer — Tue, 13 Oct 2009 03:01:46 GMT

Kuwait supportive of issuance of GCC currency as scheduled RIYADH: Kuwait''s Finance Undersecretary Khalifa Hamadah affirmed on Monday Kuwait''s support for the Gulf Cooperation Council (GCC) monetary union and the issuance of the GCC single currency as scheduled, next January. The Kuwaiti official''s statement was made to KUNA on sidelines of the meeting of the GCC committee of finance ...

Unique publishing pictures GCC currency

azdinar — Mon, 12 Oct 2009 05:43:36 GMT

Unique publishing pictures GCC currency Name JD photos reflect on religion and heritage Larger Font 04/10/2009 11:29:51 04/10/2009 now - the economics editor 11:29:51 AM [center] [/center] حObtained : On one of the drafts of the unified Gulf currency, in this draft proposed that the currency is called the JD, the different categories as shown below: Class half dinars Gulf Color: Red Face: Logo Flags of the Gulf Cooperation Council ...

Gulf Cooperation Council in Riyadh next Tuesday

day dreamer — Mon, 12 Oct 2009 04:27:23 GMT

In preparation for the meeting of the Ministers of Finance and Economy Meeting of the (31) Agents of the Commission and the Ministries of Finance and Economy Gulf Cooperation Council in Riyadh next Tuesday Secretariat - Riyadh: In preparation for the meeting of the Commission on Financial and Economic Cooperation of the Cooperation Council for the Arab Gulf States (Ministers of Finance and Economy), which will be held in Muscat on 16 October 17, 2009, the Committee on agents and ministries ...

Gargash: GCC countries to spend $ 70b on energy projects in 09

wyogal — Sat, 10 Oct 2009 22:25:05 GMT

Gargash: GCC countries to spend $ 70b on energy projects in 09 Emirates News Agency-WAM - 10 October, 2009 Renewable energy is the only sustainable solution for securing world energy, said UAE Minister of State for Foreign Affairs H.E. Dr Anwar Mohammed Gargash. Addressing a ministerial conference in Brussels about renewable energy, Gargash referred to the current indicators which forecast a 6.6 percent rise in gas demand and 3 percent oil demand during 2007 - 2011. He said ...

Four Gulf oil producers are planning an opinion poll on the name of the new currency

ksp — Mon, 05 Oct 2009 23:01:30 GMT

http://www.business24-7.ae/Articles/2009/10/Pages/03102009/10042009_1aea296348564336bda538cae2180ec4.aspx 10/4/2009 Four Gulf oil producers are planning to conduct an opinion poll on the name of the new currency that will form the backbone of a landmark monetary union which they could launch next year, a Saudi Arabian newspaper reported yesterday. While there is a tendency by Saudi Arabia, Bahrain, Kuwait and Qatar to name the new currency the Gulf dinar, the four nations will ...

Gulf Arab Rail Project to Cost $20-25b

day dreamer — Wed, 30 Sep 2009 23:30:22 GMT

Gulf Arab Rail Project to Cost $20-25b (Reuters) 1 October 2009 DUBAI � The Gulf Arab rail network will cost between $20 billion and $25 billion, up from $14 billion, as the six oil producers seek to create a similar model to Europe�s Eurostar, a regional official said on Wednesday. Mohammed Obaid Al Mazrouie, assistant secretary general for economic affairs at the Gulf Co-operation Council, told Reuters he expected a detailed study for the project to be completed ...

The foreign ministers of the Arab Gulf Cooperation Council declare their support for Iraq in promoting peace and security

Cat561 — Tue, 29 Sep 2009 15:04:13 GMT

The foreign ministers of the Arab Gulf Cooperation Council declare their support for Iraq in promoting peace and security 2009-09-29 10:26:29 2009-09-29 10:26:29 BAGHDAD (Iba) / follow-up / Foreign ministers of the Gulf Cooperation Council states of the Arab support of Iraq, which is preparing for elections next year. And issued the foreign ministers (Kuwait, and Saudi Arabia, Qatar, Bahrain, Oman and the UAE) issued a joint statement after their meeting with Secretary of State Hillary ...

Oman to host GCC audit meeting

day dreamer — Tue, 29 Sep 2009 07:31:30 GMT

Oman to host GCC audit meeting MUSCAT: Oman''s state audit body will host on Oct. 4ـ5 the eighth meeting for Gulf Cooperation Council (GCC) audit undersecretaries and officials. The twoـday meeting which takes place in the Omani capital Muscat will touch on the criteria and recommendations issued by the International Organization of Supreme Audit Institutions (INTOSAI) on linking government auditing with foreign bodies, the role of audit institutions in ...

Oman's decision to withdraw from the monetary union final

day dreamer — Mon, 28 Sep 2009 18:01:47 GMT

Central Oman: Oman's decision to withdraw from the monetary union final Conscious / Office Muscat / h. K 28/9/2009 28/9/2009 3:24pm 3:24 pm The governor of Central Bank of Oman Hamoud Sangour today Sultanate of Oman's decision to withdraw from the Gulf monetary union plans final. Zadjali said in a press statement transferred Office (News Agency, Iraqi Information / conscious) ا The decision is final, the failure to join. Earlier Sunday, ...

Kuwait: Gulf single currency should be phased

day dreamer — Mon, 28 Sep 2009 05:42:31 GMT

First Published 2009-09-27, Last Updated 2009-09-27 10:55:16 Sheikh Salem Kuwait: Gulf single currency should be phased Central bank governor says administrative plan for monetary union should focus on bloc�s institutional requirements. KUWAIT CITY - Gulf states should implement a monetary union and single currency in phases, Kuwait's central bank governor said in comments published on Sunday, casting further doubt on a 2010 target date."Due to the limited progress achieved ...

Zebari participate in the meeting of the Gulf Cooperation Council, Egypt, Jordan and the United States

day dreamer — Mon, 28 Sep 2009 06:40:47 GMT

Zebari participate in the meeting of the Gulf Cooperation Council, Egypt, Jordan and the United States Share and Foreign Minister Hoshyar Zebari, at a meeting held in New York included representatives of each of the GCC, Egypt and Jordan in addition to the United States of America. A joint statement issued after the meeting the importance of regional support for the government and the Iraqi people in their efforts towards the prosperity, unity and democracy in Iraq, at ...

GCC supports Iraq Removal from CH7

mochasmom — Sun, 27 Sep 2009 19:18:45 GMT

GCC supports Iraq Removal from CH7 ... "According to joint communique issued at the end of the meeting, the foreign ministers expressed support for Iraq as it prepares for 2010 national elections, and underlined the importance of regional support to the Iraqi government and people in their efforts to achieve a prosperous, united, and democratic Iraq that lives in peace with itself and with its neighbors and "respects its international obligations." It is worth mentioning ...

Zebari participate in the meeting of the Gulf Cooperation Council, Egypt, Jordan and the United States

Cat561 — Sun, 27 Sep 2009 14:14:21 GMT

GCC, US, Egypt, Jordan urge Iraq to 'respect its international obligations'

day dreamer — Sun, 27 Sep 2009 07:20:59 GMT

GCC, US, Egypt, Jordan urge Iraq to 'respect its international obligations' Kuwait News Agency - 27 September, 2009 Kuwaiti Deputy Prime Minister and Minister of Foreign Affairs Sheikh Dr. Mohammad Sabah Al-Salem Al-Sabah and his counterparts in the Gulf Cooperation Council (GCC) met late Saturday with US Secretary of State Hillary Clinton to discuss regional issues. They were later joined by their counterparts from Egypt, Jordan and Iraq, and according to Secretary Clinton ...

New GCC bureau inaugurated in New York

day dreamer — Thu, 24 Sep 2009 09:47:06 GMT

New GCC bureau inaugurated in New York Kuwait News Agency - 23 September, 2009 The current head of the GCC's Ministerial Council and Oman's Foreign Minister Yusuf bin Alawi bin Abdullah inaugurated late Tuesday the new bureau for the GCC here with the event attended by Gulf Foreign Ministers and their representatives. Kuwaiti Deputy Prime Minister and Minister of Foreign Affairs Sheikh Dr. Mohammad Sabah Al-Salem Al-Sabah was at the event. GCC Secretary General Abdulrahman ...

One to group meetings twenty Group of Twenty: America is pushing for new global economic order

day dreamer — Wed, 23 Sep 2009 02:17:12 GMT

One to group meetings twenty

Group of Twenty: America is pushing for new global economic order Doubts ...

G20 must rethink global economy, says Obama

day dreamer — Mon, 21 Sep 2009 07:11:19 GMT

G20 must rethink global economy, says Obama ...

Conventional bonds post �unprecedented� growth in GCC

day dreamer — Mon, 21 Sep 2009 06:45:54 GMT

Conventional bonds post �unprecedented� growth in GCC Arab News - 21 September, 2009 The depth of the impact of the global financial crisis and particularly of the Islamic capital and debt markets is becoming clearer even as the crisis starts to recede and the sukuk (Islamic bonds) market starts its recovery. The latest study published this month by Trowers & Hamlins, the London-based international law firm that has a well-established Islamic finance legal practice, ...

A new beginning

day dreamer — Mon, 21 Sep 2009 06:31:39 GMT

A new beginning The Peninsula - 21 September, 2009 Six months after their last crisis summit, the leaders of the world�s major economies can at least point to progress in their battle to prevent wealthy tax-dodgers spiriting money away to tax havens. This week, when the leaders of the Group of 20 leading economies gather in Pittsburgh for their third meeting within a year, the world economy is once again growing, equity markets have recovered most of their losses and ...

EU leaders call on G20 to regulate financial markets

Stardogger — Fri, 18 Sep 2009 07:49:33 GMT

EU leaders call on G20 to regulate financial markets Politics 9/18/2009 10:31:00 AM (with photos) BRUSSELS, Sept 18 (KUNA) -- Leaders of the 27member European Union agreed here, in their informal meeting late Thursday night, on a coordinated EU position ahead of the G20 summit in Pittsburgh, US. "We have agreed at our meeting tonight that exit strategies out of the crisis need to be designed now. I expect that handling our coordinated exit will be a main topic for the Pittsburgh ...

Kuwait parliament's approved the GCC monetary union pact

drbobnichols — Wed, 16 Sep 2009 14:43:36 GMT

Published Date: September 16, 2009 KUWAIT: Kuwait parliament's foreign relations committee yesterday approved the Gulf Cooperation Council (GCC) monetary union pact, the head of the committee said. MP Marzouk Al-Ghanem told reporters the panel's decision paves the way for Kuwait's parliament to ratify the pact. Parliament starts its term in late October. Kuwait is one of four GCC members which in June signed an accord to create a joint monetary union council, a prelude to establishing ...

PDF from IMF on GCC

dejavu — Thu, 17 Sep 2009 00:39:25 GMT

http://www.imf.org/external/pubs/ft/wp/2009/wp09184.pdf

I can't copy paste this, but this is where that article on the 5% stems from, 59 page report, page 28 thru about 31 is where that info on the article came from.

GCC bond market rebounding launch Islamic Bank instruments of $ 850 million

day dreamer — Sun, 13 Sep 2009 01:41:25 GMT

GCC bond market rebounding launch Islamic Bank instruments of $ 850 million 3 runs international banks offering .. And �HSBC� reveals the international attention Riyadh: �Middle East� . Back bond markets in the Gulf of recovery again, after he announced the Islamic Development Bank announced the launch of the instruments at $ 850 million for 5 years within the program, which has been updated recently, for issuing certificates of credit worth $ 1.5 billion. ...

Kuwait requires Iraqis in GCC countries to get visas before entering

Keonee — Fri, 11 Sep 2009 17:47:12 GMT

Kuwait requires Iraqis in GCC countries to get visas before entering Released : Friday, September 11, 2009 11:27 AM KUWAIT CITY, Sep 11, 2009 (Xinhua via COMTEX) -- Kuwait requires Iraqis in GCC countries to get visas before entering Kuwait requires Iraqis in GCC countries to get visas before entering The Kuwaiti Interior Ministry required Iraqis residing in the Gulf Cooperation Council (GCC) countries to obtain visas before entering Kuwait, local daily Arab Times reported Friday. The ...

GCC cmte mulls financial, economic cooperation

day dreamer — Wed, 09 Sep 2009 06:26:53 GMT

[size=18]GCC cmte mulls financial, economic cooperation [/size] Economics 9/8/2009 10:53:00 PM

GCC Custom Union nears completion

day dreamer — Wed, 09 Sep 2009 06:21:36 GMT

GCC Custom Union nears completion - Kuwait''s Al-Shimali Economics 9/8/2009 10:59:00 PM

JEDDAH, ...

Creating a single GCC currency - Lets look back - April 06 - 2006

Neno — Tue, 08 Sep 2009 17:13:18 GMT

Creating a single GCC currency is good news for Gulf business -April 06 - 2006 News that the central bankers of the GCC have agreed on the convergence criteria needed to create a single currency by 2010 is a healthy development. Anyone who has to transfer money around the region knows what a headache and expense this represents, and besides there are wider implications of a currency union The Gulf Cooperation Countries have a head start in creating a monetary union. All the ...

Finance minister heads to Saudi for GCC meeting

day dreamer — Tue, 08 Sep 2009 06:30:42 GMT

Finance minister heads to Saudi for GCC meeting KUWAIT: Minister of Finance Mustafa AlـShamali will head to Jeddah to take part in the 81st meeting of the Financial and Economic Cooperation Committee for the Gulf Cooperation Council (GCC), which opens on Tuesday. A Ministry of Finance press release said that ministers of Kuwait, Saudi Arabia, Qatar, United Arab Emirates (UAE), Oman and Bahrain will discuss a Qatari paper on ways of bolstering the ...

G20 economists discuss banking solutions

dbltap — Mon, 07 Sep 2009 21:45:45 GMT

Monday 7th September, 2009 G20 economists discuss banking solutions Big News Network.com Sunday 6th September, 2009 Finance ministers from the world's most powerful economies have been meeting to come up with solutions for the global banking system. Attending the G20 meeting in London, participants have been trying to construct a series of measures to regulate limits on the amounts individual bankers get paid. While they have said they want a system that rewards long-term ...

Reits 'can attract fresh capital to the GCC' Dubai: Sun, 06 Sep 2009

day dreamer — Mon, 07 Sep 2009 04:54:17 GMT

Reits 'can attract fresh capital to the GCC' Dubai: Sun, 06 Sep 2009 GCC based and managed Real Estate Investment Trusts (Reits) and similar types of investment funds can attract billions in foreign direct investment into the region�s real estate markets, says A T Kearney, a leading global strategic consulting firm. Reits are structured and regulated investment portfolios made of various real estate assets from a range of asset classes and are privately or ...

For Financial Cooperation Committee GCC held an emergency meeting in Jeddah, the day after tomorrow ..

day dreamer — Sun, 06 Sep 2009 20:36:06 GMT

For Financial Cooperation Committee GCC held an emergency meeting in Jeddah, the day after tomorrow .. 2009-09-06 19:30:22 Cooperation Council / Commission cooperation Mali / meeting. Riyadh on September 6 WAM / The Committee on Financial and Economic Cooperation / Minister of Finance and Economy / Gulf Cooperation Council for Gulf Arab states held an extraordinary meeting in Jeddah on Tuesday. Secretary General of the Cooperation Council for Gulf Arab Abdul Rahman Al Attiyah ...

GCC stresses support of Yemen unity, stability

day dreamer — Fri, 04 Sep 2009 21:33:40 GMT

GCC stresses support of Yemen unity, stability Politics 9/4/2009 7:55:00 PM SANAA, Sept 4 (KUNA) -- The Gulf Cooperation Council (GCC) on Friday pledged its support of the unity, stability and security of Yemen, which it said was significantly related to that of GCC nations. GCC Secretary General Abdulrahman Al-Atiyya who arrived in the Yemeni capital earlier today, was quoted by Yemeni news agency (SABA) as stressing the need to overcome disputes between the people of Yemen through ...

GCC Foreign Ministerial Council concludes meeting

rocky — Fri, 04 Sep 2009 12:37:47 GMT

September 3, 2009 The Foreign Ministers of the Gulf Cooperation Council (GCC) states concluded the 112th session of the Ministerial Council in Jeddah on Tuesday evening. The delegation of Saudi Arabia was headed by Minister of State for Foreign Affairs Dr. Nizar Madani. In its concluding statement, the Council reaffirmed its support for the call made by the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz at the Arab Economic Summit held in Kuwait for inter-Arab reconciliation. ...

Kuwaiti FM Leaves Jeddah after GCC Meeting

karcar — Thu, 03 Sep 2009 17:42:16 GMT

Kuwaiti FM Leaves Jeddah after GCC Meeting Politics 9/2/2009 2:08:00 PM JEDDAH, Sept 2 (KUNA) -- Kuwait's Deputy Premier and Foreign Minister Sheikh Mohammad Sabah Al-Salem Al-Sabah and his party have left here Wednesday after taking part in the 112th meeting of the Gulf Cooperation Council (GCC) ministerial council. During the meeting, Sheikh Mohammad renewed Kuwait's condemnation of the criminal attempt on the life of Saudi Deputy Interior Minister Prince Mohammad bin Naif Al-Saud ...

Gulf Cooperation Council Confirms its Position in Respect of Iraq's Unity and Sovereignty

karcar — Thu, 03 Sep 2009 11:07:17 GMT

Gulf Cooperation Council Confirms its Position in Respect of Iraq's Unity and Sovereignty The GCC ministerial meeting at the end of the league in Jeddah confirmed its position in respect Iraq's unity, sovereignty and territorial integrity and non-interference in its internal affairs and the preservation of Arab and Islamic identity. The Council stressed with regard to the situation between Kuwait and Iraq that Iraq must implement all Security Council resolutions relevant.And on relations ...

GCC Ministers Call for Cementing Relations with Iran

karcar — Thu, 03 Sep 2009 11:33:59 GMT

GCC Ministers Call for Cementing Relations with Iran MENAFN - Arab News - 03/09/2009 (MENAFN - Arab News) The GCC Council, which concluded its 112th foreign ministers' meeting here on Tuesday evening, has called for the continuation of friendly and neighborly relations with Iran. Omani Foreign Minister Yousuf Abdullah ibn Alawi chaired the meeting, which was also attended by GCC Secretary-General Abdul Rahman ibn Hamad Al-Attiyah. Established in the early 1980s, the council ...

Gulf Unified Currency Will be One of Top Five

karcar — Thu, 03 Sep 2009 01:49:34 GMT

Gulf Unified Currency Will be One of Top Five By Mohammed Al Kady on Tuesday, September 16, 2008 The planned GCC unified currency will be one of the world's five major currencies, says an economic expert. And it will be used as a reserve currency by global central banks, according to Nasser Al Saidi, Chief Economist at the Dubai International Financial Centre. He said international investors and central banks around the world would want to hold assets denominated in the Gulf currency ...

IMF help sought on new currency

KC — Thu, 03 Sep 2009 01:38:21 GMT

IMF help sought on new currency

IMF suggested slight appreciation of the currencies of Saudi Arabia, Kuwait, Qatar and Bahrain against the US dollar. (EB FILE)