It has been in the news that Abu Dhabi is planning a new address system to help residents, visitors, postal workers and the emergency services find their way around the UAE's capital city.

- Dollar Rally Set to Continue- British Pound Falls as UK Consumers Cut Back

Earlier this month the central banks of the GCC met to agree on further steps towards a limited currency union. This long-winded project is far from dead and the next announcements are likely to be the location of the new regional central bank and the formation of a monetary council to coordinate policy convergence for monetary union.

For third consecutive post-Eid session, Gulf bourses continued to post heavy losses after pressure from the international crisis and selling by foreign portfolios. Despite international markets closing up yesterday, local markets refused to follow same pattern. Muscat was the biggest loser going down 7.2% followed by Tadawul 7%, Dubai 5.1%, ADX 4.5%, Kuwait 2.7%, Doha 1.5% while Bahrain lost the least, only going down by 1.5%.