Bollywood celebrities have gathered in Abu Dhabi for the grand award show
entertainment3 hours ago
“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.
Bollywood celebrities have gathered in Abu Dhabi for the grand award show
entertainment3 hours ago
The captain said he was proud to represent UAE in an international arena
uae3 hours ago
With scores of applications being submitted, authorities have found more ways to provide flexibility to amnesty-seekers
visa and immigration in uae4 hours ago
The statement comes after Israel claimed to have killed Hezbollah's leader and said they are ready for broader conflict
mena4 hours ago
This comes after the Israeli military announced the killing of Nasrallah, and said Israel is ready for wider escalation
mena5 hours ago
The Islamic republic's supreme leader Ayatollah Ali Khameni has been transferred to a secure location, sources say
mena5 hours ago
Haddad, a project to enhance security of the Emirates' water areas, is the first-of-its-kind in the region
uae6 hours ago
A Dh50,000 fine was also imposed on the impounded vehicles
uae6 hours ago