Research and exclusives on alwikala.net requires a subscription to our services - START HERE

you have reached Alwikala.Net - the Arab World Financial Information Broadcast Services

مركز الوكالة الأخبارية للأبحاث و المعلومات

click here to reach Alwikala.com - the Arab World EcoMonitor             

 use our mobile version - click here - Access The English News Channels - -

Terms of Service and Subscriptions - Insert Your Press Release

Access The News Monitor Website - The Arabic NewsWebsites - Detailed Services and Subscriptions Terms of Service and Subscriptions - Insert Your Press Release

 

 


 

 

Special Coverage

A New Currency Profile for the GCC- Union Delayed but Rerisking after Dubai will mean The End of 'Quasi-Sovereigns?'

( 1/2)29-Nov-09 By Maan Barazy15world-tower.jpg
GCC currencies have long-standing links to the U.S. dollar. Kuwait exited its dollar peg in 2007, pegging instead to a basket in which the dollar dominates but the other countries maintain the pegs. While granting some macroeconomic stability, these pegs limit monetary autonomy as it implies that the real interest rates in the region are linked to U.S. rates. GCC countries have planned to create a monetary union loosely modelled on that of the EMU, but two of the six countries (Oman and UAE) have demurred from the process and the others have sought a deferral. Yet, officials have placed revaluation against the U.S. dollar off the table for the forseeable future.
Moreover the pegs constrain the regions asset allocation as declines in the dollar tend to put pressure on local exchange rates. In 2007, GCC central banks purchased a significant sum of U.S. dollars to maintain their pegs in the face of revaluation pressures.
READ all of our wires on the Dubai debt debacle  clickhere
 

OTHER TOP STORIES

Deloitte report on SWFs

Deloitte published a report on sovereign wealth funds and their investments in real estate market. "Sovereign Wealth Funds: Real Estate Partners in Growth?" also presents figures on SWF recent investments in real estate and financial institutions.

 

From the WEB

Reuters Sovereign wealth seeks bigger slice of buyout pie 
Sydney Morning Herald 
Future Fund consortium leads the property charge 
Financial Times 
EQT and Singapore fund seal €2.3bn Springer buy 
Bloomberg 
Future Fund May Join Canada Funds' Transurban Bid 
American Banking News 
Kuwait Sovereign Wealth Fund Rakes in $1.1 Billion in Profit After 
Reuters 
Markets need progress in Copenhagen, says Norway's SWF 
WSJ 
Asian Sovereign Funds Learn Tough Lessons 
FinanceAsia 
Asian sovereign funds are biggest SWF spenders in 2009 
AltAssets 
CIC to take €800m stake in €11.2bn Apax buy-out fund 
Malaysian Insider 
Khazanah to maintain Penang heritage sites, not state 
 
» Moody's: Dubai World restructuring unlikely to threaten sovereign credit of UAE and Abu Dhabi
» Alwaleed says ‘mature’ banks made wrong assumptions on Dubai
» Dubai World updates lenders on recent developments
» Gulf Bank announces participation in unfunded syndicated facilities for Dubai World
» Arqaam Capital sees economic recovery approaching Kuwait
» Dubai World updates lenders
» Moody's downgrades Dubai GRI ratings
» Bahrain-based GFH lowered To 'BB+/B' on weakened stand-alone credit profile

Special Coverage

Dubai's Debt Analysis : Where do we go from here ?
Is it a lack of vision? or simply a system that went wrong because of too much vision? Dubai World, a state-ownedholding company struggling with $59 billion of debt and other liabilities, said Nov. 25 it would seek a standstill agreement with creditors and an extension of loan maturities until at least May 30, 2010. dubaipixThe news led to a slump in financial markets around the world and raised prospects of rising loan losses for U.A.E. and foreign banks.The benchmark three-month Emirates interbank offered rate was at 1.919 percent on Nov. 25, the last working day before a religious holiday, according to Bloomberg data. The U.A.E. has 24 local banks and 28 units of foreign lenders operating in the country, including those of Citigroup Inc.,. More
 

READ all of our wires on the Dubai debt debacle  clickhere

 


 

From Our Newswires

تراجع الأسهم بالحد الأقصى في سوقي دبي وأبو ظبي وموانئ دبي يتراجع بـ 15 %

 تراجعت الأسهم المدرجة في سوق دبي المالي والتي تم عليها تداولات بالحد الأقصى في بداية تعاملات اليوم الاول بعد إجازة عيد الأضحى...

الاسهم الاوروبية تتعافى من تراجع الخميس والامريكية تهبط في اول رد فعل لها على طلب اكبر شركات دبي الحكومية مهلة لسداد مستحقات ديونها.

Dubai will crank up efforts this week to tackle its $80 billion debt pile with senior officials heading to Asia to meet potential investors amid reports that one of its most indebted companies has repaid a $1.2 billion bond ahead of schedule.. More…

Dubai debt fears threaten credit crunch 2 — and RBS is exposed

The spectre of “Financial Crisis 2” continued to loom over global markets yesterday after Dubai’s revelation that it may not be able to meet its debt obligations. Stock markets in Asia and the United States fell sharply while the dollar and Japanese yen rose as investors shifted theirmoney to their perceived safety. More…

Connect with Us

 

     

 

     

 

 

»

 

from MIT

study shows temporary employment could lower workers' long-term income potential

 

» Dubai World updates lenders
» Moody's downgrades Dubai GRI ratings
» Bahrain-based GFH lowered To 'BB+/B' on weakened stand-alone credit profile
» Moody's: Dubai World restructuring unlikely to threaten sovereign credit of UAE and Abu Dhabi
» Alwaleed says ‘mature’ banks made wrong assumptions on Dubai
» Dubai World updates lenders on recent developments
» Gulf Bank announces participation in unfunded syndicated facilities for Dubai World
» Arqaam Capital sees economic recovery approaching Kuwait
» Dubai World updates lenders
» Moody's downgrades Dubai GRI ratings
» Bahrain-based GFH lowered To 'BB+/B' on weakened stand-alone credit profile

 

 

 

 

 

 

 

 

 

 

 

 Unbiased market commentary and analysis - Equities and Ratings Research Research tools, filters and alerts, with customizable content Register to get Full access to DataInvestArabiaINC services- click here |

powered by Datainvestarabia.net | Saroulla Building – 10thfloor-apt 111- email: marketing@datainvestarabia.com
Tel/fax : 00 961 1 345554 - Mobile : 00 961 70939779 POBox: 1
13909 Beirut

© 2009 DataInvestArabia. All Rights Reserved.