News In brief

GCC single currency in doubt

The United Arab Emirates (UAE) has withdrawn its support for a single Gulf currency because other members of the Gulf Co-operation Council (GCC) do not want the central bank to be based in the UAE, it has been reported.

"I would not say the door is closed, but I am saying that for the moment we are not interested," UAE foreign minister Sheikh Abdullah bin Zayed al-Nahayan is reported as saying.

A pact was signed on December 30 last year between Saudi Arabia, Oman

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