UAE rejects single Gulf currency

Evan Hill | June 1, 2009 12:38 AM | 0 | recommend (0) |   |      

Al Jazeera is reporting that the United Arab Emirates has decided not to join in plans for a single Persian Gulf currency.

Oman already opted out in 2006, but Saudi Arabia, Kuwait, Bahrain and Qatar remain interested, says a "senior source in the Gulf," according to Al Jazeera.

The state-run WAM (Emirates News Agency) says the country will continue to "peg" its currency to the U.S. dollar.

For updates throughout the day, follow us on Twitter, Facebook or RSS!

Categories: Business

Tags: Persian Gulf, United Arab Emirates

No Comments

Post a Comment

The top 10 things you didn't know about Iran

Juan Cole lists the top 10 things you didn't know about Iran on Salon.com

Missile defense for Dubai

Lockheed Martin's head of business in the UAE talks about building a 'partnership' with the emirate, which has recently purchased more weapons than any country except Russia and India.

EU's Stevenson alleges further voter fraud in Baghdad

Jumblatt to Assad: I'm sorry!

Petraeus: Israeli-Arab conflict endangering U.S. interests

Al-Akhbar: Our weekly brief

Peace Processing

Fallout from Biden's visit: West Bank sealed off; proximity talks appear stalled

Gregg Carlstrom | March 12, 2010 8:56 AM | 0 | recommend (0)
Palestinian president Mahmoud Abbas greets U.S. vice president Joe Biden in Ramallah. (Photo: AFP)
As Joe Biden wraps up his Middle East tour, Palestinian officials say they're unwilling to move forward with proximity talks unless Israel cancels its new construction in East Jerusalem; and the Israeli Defense Forces have sealed off the West Bank for 48 hours, reportedly for security concerns. Several people were injured and arrested in fighting at the Al-Aqsa mosque this morning.

Peace Processing

Biden arrives in Israel amid serious Palestinian doubts

Gregg Carlstrom | March 9, 2010 4:56 AM | 1 | recommend (0)
Vice President Joe Biden and his wife arrived in Israel on Monday.
As Joe Biden lands in Israel, the Israeli government -- obviously keen to demonstrate that it's serious about restarting peace talks -- announced Monday that it will violate its West Bank settlement freeze and build 112 new homes in Beitar Illit, a settlement west of Bethlehem.

Iraqi Elections

Polls close in Iraq; media reports suggest strong turnout, relative calm

Gregg Carlstrom | March 7, 2010 9:27 AM | 0 | recommend (0)
An Iraqi man on a bicycle displays his ink-stained finger after voting in Baghdad on March 7, 2010. (Photo: AP)
A handful of insurgent attacks around the country killed two dozen people, but Iraqi security forces seemed generally confident; the vehicle ban in Baghdad, scheduled to last all day, was lifted before noon. Anecdotal reports suggest a strong turnout across the country.

Bloggers

The "MSM"