Riyadh made capital of Gulf Monetary Council

Source: Arab News (Read full story)

The Gulf Monetary Council has signed an agreement declaring Riyadh as its headquarters here yesterday.
The agreement was co-signed by Deputy Minister of Foreign Affairs Prince Abdul Aziz bin Abdullah representing the Kingdom and Chairman of the Board of Directors of the council Fahd Al-Mubarak representing the council.
Saudi Arabia, Bahrain, Qatar and Kuwait are the four members in the monetary council, the Saudi Press Agency reported yesterday. The council aims to launch a single currency at least by 2015, according to earlier reports.

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UAE disappointed by US report on human rights

Source: Khaleej Times (Read full story)

The United Arab Emirates has been disappointed by the US State Department s 2012 Report on Human Rights Practices in the UAE, published on 19 April 2013. The report provides an unbalanced picture of the human rights situation in the UAE and fails to give adequate recognition to the significant progress that has been made to promote and protect human rights in the country. According to a statement by Abdul Raheem Al Awadhi, Assistant Foreign Minister for Legal Affairs: “The UAE is rated by the UN as having a very high level of human development; it is a tolerant, multicultural society in which people with many different nationalities worship freely in churches, temples and mosques…”
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Forum to discuss gender equality

Source: The Peninsula  (Read full story)

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Qatar has also achieved most of its goals related to the provision of potable water, suitable sanitation and housing except those related to CO2 emissions and the other greenhouse gases due to the fast pace of urbanisation and the construction boom. “The country is exerting considerable efforts to confront these challenges; it has established environment related projects and programmes in the National Development Strategy 2011-2016,” he added. Dr Jamal Abdullah Al Yafi’i, the Family Policies Expert at the Supreme Council of Family Affairs, said: “ Regarding the third MDG related to promotion of gender equality and empowerment, and its third objective related to the removal of differences between males and females at primary education, high school and other educational levels…”

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OPEN DOORS

Source: Gulf Daily News (Read full story)

GOVERNMENT ministers will soon host a weekly open house in a bid to enforce transparency. The first meeting will be held on May 8 at the Cabinet in Gudaibiya, said Minister of State for Information Affairs and the government’s official spokeswoman Sameera Rajab. She said the move will create an open channel between ministers and the media, and promote transparency in government bodies. “Sunday’s Press conferences will be only concerned with what’s being discussed or approved during the Cabinet’s session,” she said during a Press conference following Cabinet’s weekly session.

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GCC financial markets’ chairmen to meet in Manama on Tuesday

Source: Zawya (Read full story)

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The committee considers recommendations submitted from technical working teams, including outcomes of the meeting of the working team on listing, disclosure and governance regarding regular reports pertaining to extent of enforcement of uniform rules for listing in financial markets, proposals necessary to develop them, and recommendations from the working team on initial issuances and subscriptions in GCC stock markets, outcomes of the working team on supervision and control of circulation in the financial markets of GCC-member countries.

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SR 100 m firm to expand Saudi farm investments

Source: Arab News ( Read full story)

Commerce and Industry Minister Tawfiq Al-Rabiah has approved the establishment of a new East Asia Agricultural Development and Investment Company with a capital of SR 100 million. The new company is based in Riyadh as a closed joint stock entity and 70 percent of its capital has already been paid up by its founding members. Its 10 million equities are each of SR 10. The company will invest in farming and establish agricultural projects for crops such as rice, barley, fruits, olives, vegetables, cattle feed and all other agricultural products.

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