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News & Views General The United Arab Emirates’ central bank has asked all banks operating in the country to obtain its permission before selling structured financial products – Gulf News. Dubai World put “a number” of projects on hold as the global economic crisis hurt the government-owned investment group. Dubai World may be forced to [...]
News & Views General The Central Bank of Bahrain (CBB) has become the first regulator in the Middle East to set a minimum qualification bar for representatives of insurance companies to practice in the Kingdom. Kuwait and Qatar have synchronized their power networks as they move towards the launch of a four-nation Gulf grid. Saudi [...]
News & Views General The United Arab Emirates economy is expected to contract 2% in 2009, but a “mild recovery” is projected for 2010 – Morgan Stanley. Iraq faces regulatory, administrative and political barriers that will prevent it from major oil production expansion for at least five years and the rules governing oil deals reached [...]
News & Views General · The withdrawal of United Arab Emirates from the proposed Gulf monetary union has thrown into question the viability and influence of any union that does emerge eventually. The UAE — the second of six members of the Gulf Cooperation Council (GCC) to pull out of Gulf monetary union after smaller [...]
London, Thursday, March 05, 2009 ARANCA News Report (www.aranca.com) : In order to prioritise expenditure and retain flexibility to for large-scale infrastructure development, the Ministry of Finance of United Arab Emirates announced that it is revamping federal budget and aims to release them every three years. The first ever three-year budget would run from 2011 [...]
