07.05.2009 - Saudi, Gulf states mull new regional development bank
From WSJ: The leaders of the Gulf Cooperation Council, or GCC, agreed to examine a Qatari proposal to set up a bank to fund development projects in the oil-rich region, the group's secretary said. The Qatari proposal comes as the GCC moves closer towards integrating its political, economic, security and defense policies, said Abdulrahman bin Hamad Al Attiyah, the GCC's secretary general, said Tuesday in a press conference in Riyadh.......Full Article: Source