UAE to host GCC central bank: Kuwaiti finance minister
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The United Arab Emirates (UAE) will be home to the central bank of the six states in the Gulf Cooperation Council (GCC) which are working to set up a monetary union next year, the Kuwaiti finance minister said.
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Major Gulf oil producer Kuwait will back a hike of 1 million barrels per day in OPEC's output ceiling if crude prices remain at record levels, a move that would bring the cartel's formal production limits in line with actual supplies.
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Major Gulf oil producer Kuwait will back a hike of 1 million barrels per day in OPEC&#39;s output ceiling if crude prices remain at record levels, a move
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In addition to the differences between Bahrain and Saudi Arabia, the GCC&#39;s 25th summit is expected to discuss the reflections of the political and security situations in Iraq on the region and several security, political and economic issues including
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Kuwait on Tuesday called on OPEC to raise official oil production quotas by a token 500,000 barrels a day to help further calm world oil markets.
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A high-ranking minister in the Gulf points a finger at commodity speculators and the "fear factor" for the recent jump in prices
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Saudi Interior Minister Prince Nayef bin Abdul Aziz speaks during the GCC Interior Ministers meeting in Kuwait, Sunday Oct. 10, 2004.
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The Saudi royal court ( Divan) announced in a statement that the defense minister prince Salman Bin Abdul Aziz will chair the delegation of the Kingdom to the summit of the Gulf Cooperation Council which will open deliberations in Bahrain on Monday and
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The United Arab Emirates will keep a 30-year link between its currency, the dirham, and the United States dollar, after completing a review of its currency regime.
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Prince Charles met the president of the United Arab Emirates on Tuesday on the latest leg of his tour of the Gulf, the official WAM news agency said.
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The United Arab Emirates and Qatar are set to own nearly half of the London Stock Exchange, a source close to the matter told AFP on Thursday.
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The Gulf Cooperation Council (GCC) signed an agreement with Pakistan that would give it dialogue partner status with the oil-rich bloc, officials said.
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KUWAIT CITY - Iraqi President Ghazi al-Yawar arrived in Kuwait on Saturday for a two-day official visit, an AFP correspondent reported.
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Currently, the UAE is &quot;producing almost our full capacity&quot; of 2.5 million bpd, Oil Minister Obeid bin Saif al-Nassiri said, commenting on measures to ease the surge in world oil prices.
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Saudi Oil Minister Ali al-Naimi said in Abu Dhabi yesterday that his country was ready to meet rising demand for crude oil to ease the surge in world prices.
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Palestinian leader Mahmoud Abbas said he would seek financial aid during his visit to Kuwait on Sunday, the first such trip by a top Palestinian official since the 1990-91 Gulf War soured Kuwaiti-Palestinian ties.
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Major Gulf producer Kuwait will back a hike of 1 million barrels per day in OPEC's output ceiling if oil prices stay at record levels, a move that would bring formal production limits in line with actual supplies.