Middle East Politics.Net » Bahrain http://middleeastpolitics.net Facts, News, Trends, Analysis Tue, 12 Jan 2010 20:56:32 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Libya’s New “Smart Energy City” http://middleeastpolitics.net/2008/11/12/libyas-new-smart-energy-city/ http://middleeastpolitics.net/2008/11/12/libyas-new-smart-energy-city/#comments Wed, 12 Nov 2008 14:12:17 +0000 dcrowley http://middleeastpolitics.net/?p=2291 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 House’s Chairman Esam Janahi, the project will take “between three and five years,” and is planned to be built 70 kilometers west of Libya’s capital, Tripoli. The energy city will serve  “oil and gas producers, refiners, and companies involved in shipping, energy trading and support services,” as well as create thousands of jobs.

This major project has been brought on by Libya’s plans to vastly increase oil production as well as to become a major gas producer. According to Reuters, Libya wants to double it’s crude oil production by 2012 as well as increase production of natural gas by 40 percent by 2015.

David Crowley

]]> http://middleeastpolitics.net/2008/11/12/libyas-new-smart-energy-city/feed/ 1 Bahraini FM Calls for Inclusive Mideast Organization http://middleeastpolitics.net/2008/10/01/bahraini-fm-calls-for-inclusive-mideast-organization/ http://middleeastpolitics.net/2008/10/01/bahraini-fm-calls-for-inclusive-mideast-organization/#comments Wed, 01 Oct 2008 21:50:13 +0000 flor http://middleeastpolitics.net/?p=1102 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 growing influence is a concern in the region. Although many Arab countries have said they will only have relations with Israel if it signs peace agreements with the Palestinians and Syria, Al Khalifa believes that inclusion without exception is the only way to solve the region’s disputes. Al Khalifa said the organization should include “Israel, Turkey, Iran and Arab countries. Let them all sit together in one group… This is the only path to solve our problems.”

Ashley Flor

]]> http://middleeastpolitics.net/2008/10/01/bahraini-fm-calls-for-inclusive-mideast-organization/feed/ 0 GCC Finance Ministers OK Proposals to Set up Monetary Council http://middleeastpolitics.net/2008/09/18/gcc-finance-ministers-ok-proposals-to-set-up-monetary-council/ http://middleeastpolitics.net/2008/09/18/gcc-finance-ministers-ok-proposals-to-set-up-monetary-council/#comments Thu, 18 Sep 2008 15:43:36 +0000 brgordon http://middleeastpolitics.net/?p=637 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 current US economic decline and by pursuing a unified currency they anticipate further protection from US inflation and financial woes.

Now that this long awaited proposal has been approved, the next steps include deciding and understanding the powers of the central bank, overcoming inflation, creating an appropriate exchange system and balancing regulatory powers. The Director General of the International Monetary Fund, Dominique Strauss-Kahn commented, “Achieving a monetary union will be a major challenge as much remains to be done to enable the creation of a common currency.”

The finance ministers also discussed the EU’s response to the GCC’s view on difficulties that are slowing a free-trade agreement between the organizations.

Brandie Gordon

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