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 financil 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.

MENAFN1112201300480000ID1093740063

 


Arab News




  MENA News Headlines
 Jan 24 2017 - Chinese warships tour Gulf Arab states for first time in 7 yearsMENAFN
(MENAFN) Chinese warships have embarked on a tour of Gulf Arab states for the first time in six years as Beijing has signalled a desire to play a bigger role on the global stage.In detail, three ...

 Jan 24 2017 - Opel Astra snatches leadership from Renault LoganDaily News Egypt
(MENAFN - Daily News Egypt) Opel Astra managed to stay on the top of the list of sold European cars in Egypt during the first 11 months of 2016, as sold European cars together achieved sales of EGP ...

 Jan 24 2017 - UK backs Bahrain parliament as it halts reforms and support executionsMENAFN
(MENAFN) The British government is using a multi-million pound aid programme to fund Bahrain's parliament while the Gulf country bans opposition parties, reverses human rights reforms and carries out ...

 Jan 24 2017 - Iraq orders investigation into abuses reported in Mosul battleMENAFN
(MENAFN) Iraqi Prime Minister Haider al-Abadi on Monday ordered an investigation into allegations that members of Iraq's security forces and a Shia paramilitary group had kidnapped and abused ...

 Jan 24 2017 - Bahrain court hears Twitter 'evidence' against activistMENAFN
(MENAFN) The prosecution in a Bahraini court on Monday presented what it said was evidence against prominent rights activist Nabeel Rajab, accused of spreading "false information" about the kingdom, ...

 Jan 24 2017 - Palestinians threaten to fuel 'Intifada' over US embassy move planMENAFN
(MENAFN) Palestinians living in Jerusalem have warned of the possibility of an "Intifada", or uprising, if Donald Trump moves the US embassy from Tel Aviv to the ancient city.In detail, the new US ...

 Jan 24 2017 - US-Egypt Business Council to visit US next AprilDaily News Egypt
(MENAFN - Daily News Egypt) The US-Egypt Business Council is preparing to send a trade delegation comprised of a number of Egyptian companies to visit the United States in April, to discuss ...

 Jan 24 2017 - Egypt- Despite living a digital life, 98% of Generation Z still shop in-store: IBMDaily News Egypt
(MENAFN - Daily News Egypt) Despite expectations that the first 'digitally native' generation would want to shop online, a new study released on Monday by IBM and the National Retail Federation (NRF) ...

 Jan 24 2017 - Egypt- NBE, Banque Misr, CIB offer EGP 1.148bn worth of securitisation bonds for CorpleaseDaily News Egypt
(MENAFN - Daily News Egypt) The National Bank of Egypt (NBE), Banque Misr, and the Commercial International Bank (CIB)—as managers of placement, promoters, and underwriters—have issued and covered a ...

 Jan 24 2017 - Travel, mobile items, electronics, fashion most popular products purchased online among Egyptians: NielsenDaily News Egypt
(MENAFN - Daily News Egypt) Egyptian consumers are gaining increased trust and proficiency in online shopping, according to the results of a recent online survey conducted by Nielsen Holdings, a ...

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

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