The four Persian Gulf states planning a single currency will temporarily halt their preparations because of the debt crisis facing the euro region, said Sheikh Mohammed bin Essa al-Khalifa , chief executive of Bahrain’s Economic Development Board.
Economic growth in Bahrain will accelerate to as much as 4.5 percent this year from 3 percent last year, Sheikh Mohammed bin Essa Al Khalifa, chief executive officer of Bahrain’s Economic Development Board, told a conference in Manama today.
Bahrain’s National Gas Co., known as Banagas, is reviewing prices of natural gas sold locally to industrial companies, Alwatan newspaper said, citing chief executive officer Mohamed bin Khalifa Al Khalifa.
Bahrain, one of four Gulf Arab states working to set up a single currency, is monitoring concern over the viability of the euro, Sheikh Mohammed bin Essa Al-Khalifa chief executive of the country’s Economic Development Board said.
South Korea’s won fell to its lowest level in two weeks as concern Europe’s debt crisis will derail the recovery from a global recession prompted investors to shun riskier assets in favor of holding dollars.