The euro could become the world's leading currency in the next decade if the bloc's leaders succeed in tightening fiscal integration, European Central Bank policymaker Christian Noyer said in an article to be published in the Journal
As the GCC approaches its 30th birthday, the economic integration of the six member countries has not progressed as much as had been expected, said a new study from Booz & Company, the global management consulting firm.
“The region has
The euro touched four-month lows against the dollar on Monday after stops were triggered in thin trade against the backdrop of mounting worries about Europe's debt crisis.
The single currency fell to lows not seen since&n
The United Arab Emirates hopes it and Oman will rejoin a planned Gulf single currency project one day, UAE economy minister was quoted as saying by a Saudi newspaper on Sunday, ahead of a Gulf rulers summit this week.
Gulf countries are unlikely to launch a planned single currency in the next five years given all the preparation required, the head of the Gulf Cooperation Council (GCC) said.
Abdulrahman Al-Attiyah, Secretary-General of the GCC, also said
Kuwait's central bank will keep pegging its dinar to a currency basket for the foreseeable future, and prefers not to rush plans for a Gulf single currency, Governor Sheikh Salem Abdul-Aziz Al-Sabah said on Thursday.
UAE stocks made near-maximum gains as Abu Dhabi's $10 billion bailout of Dubai lifted both emirates' benchmarks to milestone advances.
Abu Dhabi's benchmark climbed 7.9 per cent to 2,821 points, in its biggest one-day gain sin
Gulf countries will discuss an option to peg their planned single currency to a basket, Kuwait Foreign Minister Sheikh Mohammad Al-Salem Al-Sabah said on Tuesday.
"It is not necessary for the GCC currency to be linked to a certain currency
Gulf states who have yet to ratify an agreement on a single currency for the region are being called upon to do so by the end of this year, an Oman finance ministry official said on Saturday.
Only four of the Gulf Co-operation Council's (G
A top GCC official has said he was confident the four Gulf countries would have a monetary council - a step towards a single currency - in place by January.
Finance ministers and central bank governors from six GCC nations are meeting here