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03 Sep 2012  |  South Asia, Middle East & North Africa

GCC Monetary Union: Understanding the Intricacies of Convergence

 

The GCC economies are major crude oil and natural gas producers. Level of monetary convergence in the GCC quantified by low inflation levels, low interest variations, and stable exchange rate regime makes it suitable for the monetary union. While Bahrain, Kuwait, Qatar, and Saudi Arabia are in agreement to form the GMU by 2013, Oman and the UAE are...

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29 Dec 2011  |  South Asia, Middle East & North Africa

Economic 360 for the UAE: Growth Prospects and Emerging Opportunities in the Manufacturing Industry

Transformation of the UAE's Manufacturing Industry: Hydrocarbon to Non-hydrocarbon led Growth

The manufacturing growth in the UAE has been led by the development of the cement, petrochemicals, electrical machinery and power, food processing, and pharmaceutical industries. The government has been encouraging investments through special zones like the Industrial City of Abu Dhabi (ICAD) and Dubai Industrial City (DIC). The manufacturing indus...

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