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Bahrain to set up high economic body

MANAMA: Bahrain's Emir Sheikh Hamad bin Isa al-Khalifa issued a decree on Saturday to set up a high economic development council to reinforce the island's economy.

The official Gulf News Agency reported that Prime Minister Sheikh Khalifa bin Sulman al-Khalifa would head the proposed council which would consist of nine or more members appointed by the prime minister.

The body would be responsible for suggesting policies and measures to increase economic growth and help Bahrain attract foreign capital and encourage investment, the agency said.

Bahrain is the Gulf's main financial and banking hub.-Reuters