There have been a series of school fires in the country in recent years, many of them which have turned out to be arson
“The GCC countries will peg their common currency to a trade-weighted basket of currencies by 2020, although one or two states may opt out of this initiative,” the Economic Intelligence Unit said in its 2020 outlook report.”
Most of our interviewees thought it feasible that the GCC would have monetary union by 2020, though not by 2010.”
Gulf Cooperation Council members Saudi Arabia, the UAE, Kuwait, Bahrain and Qatar agreed in December to a 2010 deadline for monetary union.
The countries have yet to decide on a location of a central bank and convergence criteria.
Bahrain central bank Governor Rasheed Al Maraj said last week the 2010 deadline would have to be revisited. “Assuming that oil is still being traded in dollars in 2020, a GCC currency basket is likely to be heavily weighted toward the dollar, as is already the case in Kuwait,” the EIU said.
The GCC economy is expected to grow to $2 trillion by 2020, providing nearly one-quarter of the world’s oil and an increasing amount of petrochemicals, metals and plastics, the EIU said.
There have been a series of school fires in the country in recent years, many of them which have turned out to be arson
Salama Alfalacy is into realistic art featuring landscapes and wildlife, while Meera Jamal Al Midfa is setting new grounds in performance art and filmmaking
Dubai Police have asked drivers to be extra cautious
The storm had already claimed the lives of at least two people in China's Hainan and 16 people in the Philippines
Dubai Police have asked drivers to be extra cautious
The former all-rounder has returned to cricket during the past year after a horrific car crash at the end of 2022
Dubai Police have asked drivers to be extra cautious
The country has set a new Guinness World Record by creating the largest falcon hood, beating the previous record of 1.65 metres