Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Oman's stand on Gulf Union 'will not hurt key projects'  Join our daily free Newsletter

MENAFN - Arab News - 11/12/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) Oman's reluctance to join the proposed GCC Union will not affect the joint economic projects between the six Gulf states, says a Gulf official. His remarks follows a recent statement by the Omani Foreign Minister.
The official said the details of a project to create a GCC Clearing Organization (financial organization for a unified financial clearing of GCC member countries) will be discussed soon by the committee of the financial and banking sector of the Federation of Gulf Chambers of Commerce.
Abdullah Al-Shibli, GCC assistant secretary general for economic affairs at the General Secretariat of GCC, said a meeting will be held between the secretariat, represented by the economic affairs department and the financial sector of the Federation of Gulf Chambers to discuss the final details of the project to create a GCC Clearing Organization. The discussions will address the nature of systems in GCC financial markets, but the full details will be announced in a later stage.
Al-Shibli said new projects will be launched during the summit meeting of GCC leaders in Kuwait City.
The GCC Clearing Organization will contribute to the enhancement of the GCC markets once it starts to operate, where any Gulf investor can open a single account to smooth the movement of money and contract the differences in currencies.
"Even if Oman declined to join the proposed union, that does not mean the country will exit other joint economic projects," he said.


 


Arab News




  MENA News Headlines
 Jul 4 2015 - Russian cargo ship heads to ISSThe Peninsula
(MENAFN - The Peninsula) A Russian Soyuz rocket blasted off yesterday to deliver a cargo ship loaded with food, water and equipment to the International Space Station, breaking a string of launch ...

 Jul 4 2015 - Doha Bank raises QR2bn Tier 1 capital-boosting bondThe Peninsula
(MENAFN - The Peninsula) In March, the bank said that it would issue capital-enhancing bonds with a perpetual tenor and an option for the bank to redeem them after six years, to boost the bank's Tier ...

 Jul 4 2015 - Qatar stock index edges lower this weekThe Peninsula
(MENAFN - The Peninsula) Qatar Stock Exchange (QSE) index edged lower this week when the bourse closed Thursday at 12,121.08 points, down 12.15 points, or 0.10 percent.The traded value of QR 1.32bn ...

 Jul 4 2015 - Mideast passenger demand growth soars 14pc: IATAThe Peninsula
(MENAFN - The Peninsula) The International Air Transport Association (IATA) announced global passenger traffic results for May showing strong demand growth compared to May 2014 for both domestic and ...

 Jul 4 2015 - Qatar- Milaha acquires 100pc controls in two liquefied gas carriersThe Peninsula
(MENAFN - The Peninsula) Milaha announced that its wholly owned subsidiary, Qatar Shipping Company, acquired the remaining 60 percent interest in each of the two entities that own the liquefied ...

 Jul 4 2015 - Tunisia arrests eight with 'direct links' to beach massacreThe Peninsula
(MENAFN - The Peninsula) Tunisia has arrested eight people in connection with last week's jihadist massacre at a seaside resort, as the remains of more British victims were set to be flown home ...

 Jul 4 2015 - Egyptian air strikes kill 23 militants in North Sinai: sourcesThe Peninsula
(MENAFN - The Peninsula) Egypt launched air strikes on Islamist militant targets in the Sinai peninsula on Thursday, killing 23 fighters a day after the deadliest clashes in the region in years, ...

 Jul 4 2015 - Saudi opens privatised airport for pilgrimsThe Peninsula
(MENAFN - The Peninsula) Saudi Arabia yesterday officially opened a billion-dollar aviation gateway aimed at pilgrims, in its first airport privatisation. Local media said Custodian of the Two Holy ...

 Jul 4 2015 - Kuwaiti Sunni and Shi'ite worshippers, pray together with Emir showing unityThe Peninsula
(MENAFN - The Peninsula) Kuwait deployed unprecedented security measures around Shiite mosques for Friday prayers following last week's deadly bombing, as the emir attended a rare Shiite-Sunni joint ...

 Jul 4 2015 - Top jihadist from Tunisia killed by US strike in LibyaThe Peninsula
(MENAFN - The Peninsula) A top Tunisian jihadist was killed by a US airstrike in Libya last month, The New York Times reported Friday.The jihadist, Seifallah Ben Hassine, also known as Abu Ayadh, was ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help