Thursday 18 December 2014
 
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currency union

No plans to rejoin currency union: UAE

The United Arab Emirates is  not discussing whether to rejoin the planned Gulf monetary union at this point, the Gulf country's central bank governor Sultan Nasser Al-Suweidi said on Monday. The second largest Arab economy pulled

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Gulf currency union still ‘a far cry’

The self-imposed 2010 deadline for the GCC monetary union will pass with the Gulf standing far short of the goals it envisioned at the start of the decade, said Simon Williams, HSBC chief economist, Gulf markets. “No change in currency reg

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Currency union may be delayed

Gulf states plan to launch their monetary council next year but the proposed single currency may be delayed, the Saudi central bank chief has said. 'The (Gulf) monetary council will be established in 2010. It will be entrusted to compl

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UAE pullout won't derail FX union: Saudi

The United Arab Emirates' withdrawal from a Gulf monetary union will not derail the region's single currency plan, Saudi Arabia's central bank governor said on Wednesday. 'I don't believe that the withdrawal will affect

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Riyadh to host Gulf central bank

Gulf leaders have chosen the Saudi capital, Riyadh, as the headquarters for their common central bank, the GCC secretary-general said after a meeting on Tuesday. Abdul-Rahman Al-Attiyah also said no decision had been reached on when the si

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GCC must review FX union date: Bahrain

Gulf states have to review their 2010 target for monetary union, Bahrain's central bank governor said on Thursday. "We will have to revisit this timing," Rasheed Al-Maraj told reporters on the sidelines of a conference in Dubai. As

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GCC inks currency union draft

Gulf Arab finance ministers approved on Wednesday the framework for their monetary union but left questions over the timing of the launch of the single currency at the heart of the project unanswered. The ministers ended their milestone-se

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Gulf central banks approve FX union amendment

Gulf central bank governors have approved a final amendment for monetary union but the timing for the launch of the single currency has not been specified, Qatar's central bank governor said. Speaking at a central bank governors meetin

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Gulf states 'to review 2010 FX union target'

Gulf Arab oil producers will reconsider a 2010 target for monetary union at an autumn meeting as the single currency plan is hindered by economic growth and soaring inflation, Saudi Arabia's central bank governor said. In the clearest comm

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Gulf rulers to decide on currency union in Dec

The rulers of six Gulf Arab oil producers will decide in December whether they can meet a 2010 deadline for monetary union, the Saudi central bank governor said on Saturday after meeting regional policymakers. Investors were watching the m

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