Middle-East grown interiors brand opens two new store locations
business1 hour ago
“Our decision is not to participate in the Gulf monetary union... because we do not want to restrict our monetary and fiscal policies at present,” Zidjali said at a banking conference in Kuwait.
Oman told its Gulf Cooperation Council partners last year that it was unable to meet the legislative and technical requirements for monetary union by the target date of 2010, but would join at a later date.
“At present we will not join. Later when the single currency comes into existence, then maybe,” Zidjali later told reporters.
He said Oman believes that meeting the GCC monetary union criteria may have a negative impact on its development plan.
Besides Oman, the GCC groups Bahrain, Kuwait, Qatar, the United Arab Emirates and Saudi Arabia.
GCC leaders decided at their summit in 2001 to launch their monetary union and single currency in 2010, but economists have cast doubt over their ability to meet the date especially after the Omani move and Kuwait’s decision on Sunday to peg the dinar to a basket of currencies instead of the dollar.
Middle-East grown interiors brand opens two new store locations
business1 hour ago
The country repeatedly urges residents to refrain from owning wild or exotic animals, and imposing hefty fines of up to Dh500,000 for violators
uae1 hour ago
Amid the ongoing crises of their own making, Kane keeps scoring to bail the club out
football1 hour ago
The winner leaves the Montgomerie in a hurry due to work obligations after shooting a tournament-winning 43 Stableford points
sports1 hour ago
The record 14-time winners snatched a 2-2 draw in the first leg of the semifinal clash in Munich with Vinicius Junior scoring a brace
football1 hour ago
Residents noted that the fire was of such magnitude that it took several hours to extinguish
uae1 hour ago
Digital bank by Emirates NBD to incubate digital asset innovations
business1 hour ago
The teenager from Surrey became the first youngest player to make the cut on the tour at the CJ Cup Byron Nelson
golf2 hours ago