Facts, News, Trends, Analysis
In January, Libya will begin the construction of a $5 billion “Smart Energy City” designed to create a business infrastructure for energy firms operating in the area. The new city is a joint project between “Libya’s State Fund for Economic and Social Development and Bahraini Islamic investment Bank Gulf Finance House.” According to the Finance [...]
Bahraini Foreign Minister Sheik Khalid bin Ahmed Al Khalifa called this week for the creation of a forum that would include Israel and Iran to discuss the problems of the region. This was unusual because neither Israel nor Iran are Arab countries, most of the Arab countries do not have relations with Israel, and Iran’s [...]
Arab News reported that on September 17, finance ministers of the Gulf Cooperation Council (GCC) met in Jeddah and approved proposals for a monetary council. Representatives from Saudi Arabia, Bahrain, Qatar, Oman, Kuwait and the United Arab Emirates hope to utilize a single currency by 2010. Their oil-fueled economies have offered a safeguard against the [...]
