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USD continues to be main reserve currency - Dotemirates
1 week 3 day

USD continues to be main reserve currency

Mubasher: The US dollar will remain the dominant global reserve currency for the foreseeable future, despite gradual progress of alternatives. Major shifts are expected not to happen before many years to come, Moody's Investors Service said in a report on Tuesday. "The transparency of the US financial markets as well as the stability and predictability of US monetary policy reinforce the safe-haven legacy that the US dollar holds," according to Moody's. Reserve currencies need to be stable and are expected to hold relative value through business cycles and asset price volatility. Governments that issue reserve currencies enjoy greater liquidity which...


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Business News

40 minute 14 second

CSC suspends appointments in MGRP & PAM until the merger’

KUWAIT CITY, Sept 22: The Civil Service Commission (CSC) has suspended appointments in the Manpower Government Restructuring Program (MGRP) and Public Authority for Manpower (PAM) until the two institutions are merged, reports Al-Jarida daily quoting sources. Sources said the CSC refused to grant the salary scale for the newly-appointed employees in MGRP before the current budget took effect and asked them to work at PAM to avoid calls for retroactive salary scales. Sources disclosed some of these employees rejected the appointment and requested for inclusion on the waiting list rather than working in PAM. Sources affirmed the merger and financial...
42 minute 44 second

MPW to disburse financial dues to firms, contractors

KUWAIT CITY, Sept 22: Disbursement of financial dues to the contractors and companies that carried out projects has been suspended by the financial supervisor for four months now, reports Al-Anba daily quoting a reliable source from Ministry of Public Works. The source explained that the total amount of these dues has reached nearly KD 600 million. Minister of Public Works Eng Hossam Al-Roumi reportedly asked head of the financial supervision department to change the financial supervisor of the ministry after he interfered in the authorities of the minister and undersecretary. Based on the recommendation of Minister of Public Works, the...
46 minute 59 second

Irregularities continue in Al-Durra Co – ‘Anti-graft Authority need to step in’

KUWAIT CITY, Sept 22: The file of special transactions for board members of Al-Durra Domestic Recruitment Company has become akin to governmental transactions that are passed under the table or the government’s contracts with foreign countries that are conducted indirectly without a public announcement benefiting citizens who have applications that require intervention by the concerned authorities, reports Al-Qabas daily. Authorities such as Kuwait Anti- Corruption Authority are required to step in to find out whether or not there is abuse of authority, because some who are waiting to have their applications responded to are getting what they want with wasta...

1 hour 24 minute

Octogenarian's tailor-made tiny house offers a retirement home alternative

RN By Anna Kelsey-Sugg and Michael Mackenzie for Life Matters While Australia reels from stories of malpractice in the aged care sector, perched petitely in regional Victoria is a house that could serve as an alternative model to a retirement home.It's Merle's house — her tiny house, to be precise."I'm 82 years old and I can manage this easily, and I don't have to depend on carers," she says. "I am completely independent."A tour inside Merle's homeMerle moved into the tiny house earlier this year, and she hasn't looked back.Roughly 7 by 2.5 metres in dimension, her light-filled residence sits...
1 hour 29 minute

Tiny homes all the rage, but they can come with a huge amount of red tape

By Bec Whetham Tiny homes are the new alternative lifestyle dream, so why are they a still a bureaucratic nightmare to organise?Originating in the US, tiny houses on wheels are fast attracting fans here in Australia.But for those who want to capture the freedom that comes with a tiny home, many people are finding themselves trapped in red tape.There are about 200 in the country, according to the Australian Tiny House Association.But that is just an estimate because technically tiny houses on wheels "don't exist" since they are often registered as trailers rather than permanent dwellings.Sustainable housing consultant Valerie Bares...
1 hour 33 minute

Nuyina icebreaker takes first dip, passes critical float test in Romania

By Fiona Blackwood Australia's new Antarctic icebreaker floats and it doesn't leak.Named Nuyina by schoolchildren as part of a competition, the ship is being constructed in Romania and has been put into water for the first time.The operation took two days and involved pumping 50 Olympic sized swimming pools worth of water from the Danube River into its dry dock, raising the water level by six metres.The Australian Antarctic Division's Modernisation Program Manager, Rob Bryson, said he was pleased the floating of the ship went to plan."We've been testing it over the last five days to make sure there was...