Wednesday, December 16, 2009
KUWAIT CITY: A Gulf monetary union pact took effect on Tuesday, the Kuwaiti finance minister said in a move that brings the energy rich region closer towards launching its own single currency.
“The Gulf monetary union pact has come into effect,” the finance minister, Mustafa al-Shamali, was quoted as saying by the official KUNA news agency.
Showing posts with label Gulf Markets. Show all posts
Showing posts with label Gulf Markets. Show all posts
Wednesday, December 16, 2009
Friday, December 4, 2009
Gulf markets steady, S&P cuts Dubai ratings
Friday, December 04, 2009
DUBAI: Gulf stock markets took a breather on Thursday, closing slightly higher after suffering heavy losses earlier in the week and suggesting that the initial shock waves of Dubai’s debt crisis are subsiding.
But in a further sign of the fallout from the shock announcement last week that Dubai World wants to halt payment on its 59-billion-dollar debt for at least six months, international ratings agency Standard & Poor’s cut the credit ratings of six Dubai government-related entities (GREs) to junk status.
DUBAI: Gulf stock markets took a breather on Thursday, closing slightly higher after suffering heavy losses earlier in the week and suggesting that the initial shock waves of Dubai’s debt crisis are subsiding.
But in a further sign of the fallout from the shock announcement last week that Dubai World wants to halt payment on its 59-billion-dollar debt for at least six months, international ratings agency Standard & Poor’s cut the credit ratings of six Dubai government-related entities (GREs) to junk status.
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