Saturday 26 May 2012

A bridge and ever closer financial ties with Saudi - The National

Businessmen say Bahrain is becoming ever closer to neighbouring Saudi Arabia economically, even as plans for a Gulf union meet with loud opposition.

Last weekend there were demonstrations for and against Saudi Arabia's plans for a closer union among member nations of the GCC. But economic ties are strengthening.

Last year, the GCC pledged US$10 billion (Dh36.73bn) each to Bahrain and Oman over a 10-year period to help shore up their economies.

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