The Islamic republic's supreme leader Ayatollah Ali Khameni has been transferred to a secure location, sources say
“As the Bahraini currency is pegged to the dollar, the overall macro economy in Bahrain lacks an independent monetary system,” Jawad Habib, Chairman of the BCC, said while launching the council’s Competitiveness Report for 2007-08 recently. He said revaluation was expected to reduce inflation and stabilise prices.
“Although the degree of inflation in Bahrain varies between sectors and for different goods and services, it is considerably lower than that of its neighbours such as Qatar and the UAE. Inflation in the kingdom is partially imported in nature due to the Bahraini Dinar’s peg to the US Dollar which has been deteriorating in value for the past couple of years. Inflation is also internally generated, caused by speculation in land prices, increased demand for goods due to the increasing population.”
He said interest rates in Bahrain are quite high and do not reflect international market rates. Interest rates on deposits are well below international rates while interest rates on loans are medium to high compared to market rates elsewhere. It appears that all banks in Bahrain follow the same practice and charge high interest rates.
The Islamic republic's supreme leader Ayatollah Ali Khameni has been transferred to a secure location, sources say
Haddad, a project to enhance security of the Emirates' water areas, is the first-of-its-kind in the region
A Dh50,000 fine was also imposed on the impounded vehicles
Both Israeli and US media reported that Hezbollah's leader Hassan Nasrallah was the target
The event will spotlight 104 young golfers aged 11 to 18, all eager to showcase their skills on the newly enhanced back nine at Arabian Ranches
This comes after Israel military claimed on Saturday that it killed the militant group's chief
No casualties were reported and employees were sent home for the day
The hot season ended with the autumn equinox being observed on September 22