Muscat: Travelex, the world's leading foreign currency specialist, has launched a new money
transfer service in the Sultanate of Oman that allows customers to send money directly to international bank accounts.
In a statement the bank said, 'We are optimistic that overall positive net new money
inflows will continue in the first quarter.
That's fine if it works, and nobody knows if it will, but creating new money
generally leads to inflation.
Metro hopes to raise the bulk of the new money
from its existing investors, who include its US founder Vernon Hill, investment houses Fidelity and Wellington and property investors the Reuben brothers.
Secondly, the actual new money
involved remains within the budget set for e-government by the previous Labour administration in 2003-04.
With most insurance companies, then, the trend has been that the mix of new money
sales and exchanges starts to Invert when interest rates change.
City officials are concerned, however, the new money
still won't be enough.
"With other initiatives I hope to bring in, we should able to eliminate the debt in 12 months, start generating new money
, and make new money
available to the manager.
The new budget has awarded US $34 million to UNFPA, but this new money
is again subject to the condition that the agency is not in violation of U.S.
The bank launched its Regular Saver account on March 1 to encourage people to get into the habit of putting money aside on a regular basis, after research showed very little new money
was being saved.
"There doesn't seem to be a lot of new money
for the settlement fund," he said.