Jul 21, 2008 / 3:20pm / in Asia, Eastern Europe, Economics, General, Middle East, South Pacific, Forex News
Many in recent years have pointed to a “global market” that has emerged in the past few decades. While this term is typically a reference to increased global trade and international economic cooperation, the expression is also becoming applicable to the status of the world’s economy. After several years of widespread economic boon, it is becoming clear that the status has shifted. This has occurred not solely in economic powerhouses such as the U.S., the Euro-Zone, and Great Britain, but in many of the emerging markets throughout the world.
Sep 8, 2006 / 6:50am / in Middle East, Forex News
The Gulf Cooperation Council (GCC), an alliance between nations around the Persian Gulf, talks of having a single currency for the region. Criteria for admission has yet to be decided on before plans can be ratified. The criteria being discussed are similiar to the criteria for the Euro, such as certain levels of inflation, government deficit, interest rates, and foreign currency reservces. Large decisions still have to be made before major changes happen such as where the central bank will be, but the goal is to have a monetary union by 2010.