Three days official mourning after tragic death of ADIA boss
Mortality is the biggest enemy of all investors and the managing director of the Abu Dhabi Investment Authority, Sheikh Ahmad bin Zayed Al Nahyan who died in a tragic glider accident last Friday, was arguably…
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Abu Dhabi and Dubai bourse merger would boost UAE recovery
It has long been an anomaly that a relatively small country like the UAE has three stock markets – the Abu Dhabi Securities Exchange, Dubai Financial Market and Nasdaq Dubai – and the logic for…
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Nakheel board sacked as debt rescheduling talks continue
The Government of Dubai has sacked the entire board of Nakheel, the developer of the Palm islands trilogy and other ambitious real estate developments, whose $24.8 billion debt mountain is now the subject of intense…
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Property oversupply grows in the UAE, set to reduce prices again
At night looking back at the Jumeirah Lake Towers from a vantage point at the Montgomerie Golf Club the unlit towers amid this collection of new Dubai skyscrapers is a reminder that the inventory of…
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Gold buying from Arabia will likely outpace China
The latest report from the World Gold Council, ‘Gold in the Year of the Tiger’, concludes that Chinese gold consumption could double in the next decade if its economy continues to grow at a rapid…
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Tourism will lead the economic recovery in Dubai
Yesterday three large cruise liners were docked at the new Port Rashid terminal that opened in January this year. Perhaps around 5,000 day trippers got off these ships to explore Dubai.
At the same time…
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Abu Dhabi non-oil imports down 10% in January
New official trade figures showed that non-oil imports into the UAE capital declined by 10 per cent in January to $10 billion, confirming that even Abu Dhabi is feeling the impact of the global economic…
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Emirates and Eithad debut in Tokyo and BA goes on strike again
When the history of aviation is written in future years time this week will be remembered as the one in which Emirates Airline and Etihad opened their first-ever flights to Tokyo while British Airway cabin…
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Jewelry shops to close in $870m Damas debt standstill deal
Damas, the largest jewelry chain in the Middle East is to close or relocate some of its 450 outlets as a part of a $870 million debt restructuring deal that follows in the wake of…
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Calm before the storm in global financial markets again?
The calm always comes before the storm. In world financial markets the bears are tired of calling an end to the year-long rally, while even the bulls are beginning to feel that they are skating…
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