Tag Archives economy

The GCC Currency Yoyo

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I’m confused. Are we (as the GCC) going to have a single currency come 2010 or won’t we? Our PM is adamant that we will:ولكن،هناك لغط داخل منظومة مجلس التعاون حيال الوحدة النقدية.. ما هو موقف مملكة البحرين من العملة الخليجية الموحدة؟ ** على الجميع أن يدرك أن دول مجلس التعاون الخليجي، كيان واحد والتكامل هو خيارنا الاستراتيجي أمام هذه المتغيرات التي تعصف بالعالم، وللتعامل مع المستقبل الذي تؤكد إرهاصاته دائماً، ضرورة إيجاد كيانات مشتركة …

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The tumbling Dollar breaks the non-forthcoming single GCC currency

Kuwait saw this:and got rightly concerned, so:Kuwait drops dollar peg in blow to Gulf currency union KUWAIT, May 20 (Reuters) – Kuwait unshackled its dinar from the tumbling U.S. dollar on Sunday and switched the exchange rate mechanism to a basket of currencies, throwing plans for currency union with other Gulf Arab oil producers into disarray. Kuwait’s central bank, which battled speculators for weeks to defend the peg, said the dollar’s slide against other …

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Incentives are better than punishments

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You can beat the bejeezus out of people but that won’t guarantee that your message will actually get through. On the other hand, if you talk nicely to people and offer them an incentive to do better or correct their ways, there is a very high chance that they will not only listen, but also fall over themselves to please you in the process. Therefore, I am full of praise to our Ministry of Interior for …

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Transporting humans

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A few months ago, the Ministry of Labour meekly suggested that workers should be transported in covered vehicles, they meant buses I assume, which should be adequately air conditioned. So canny businessmen slapped on some plywood boards around the back of 6-wheel trucks and shoved all their labourers in there. That should have been enough – as far as those businessmen are concerned – to provide a safe, covered and as it was open to the …

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