Dubai brokers still closing despite 20% stock market rally
Last week Mac Capital closed its brokerage operations in Dubai, making 25 staff redundant, the unlucky 13th closure of a broker in the UAE this year, and that despite a post-Ramadan stock market rally that…
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US bank foreclosure fraud threatens global financial markets
Bank foreclosures across the United States have been stopped due to alleged widespread fraud in the foreclosure process. Essentially subprime mortgages were sold in a hurry and the paperwork not completed properly.
Compounding the issue…
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Abu Dhabi Ex-Im bank an idea whose time has come
Abu Dhabi is to establish a new agency to provide cheap credit for exports by the end of the year modelled on the US Export-Import Bank, the bank at the centre of controversy over subsidies…
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Jim Rogers warned on downward spiral for dollar and inflation
Wonderful to look back at what Jim Rogers was saying three years ago. He was short banks before the global financial crisis and down on the dollar.
It is also remarkable how little has changed.…
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Benjarong the best Thai restaurant in Dubai
It is hardly a coincidence that the billionaire, disgraced former Prime Minister of Thailand, Thaksin Shinawatra chooses to eat at the Benjarong restaurant on the 24th floor of the Thani Dusit Hotel in Dubai.
For…
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Will bond or equity markets crack first under QEII?
By printing money the US Federal Reserve is devaluing the US dollar and thereby the value of US bonds held by foreigners. If the dollar drops sharply in value as it has over the past…
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Shock 19.8% slump in Singapore Q3 GDP may foretell double dip recession
The surprise 19.8 per cent slump in GDP from Singapore in the third quarter indicates a slowdown in global trade that could be the precursor to a double dip recession.
Singapore is the Asian nation…
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How high will interest rates go as QE fails and bonds tumble?
Marc Faber put the cat among the pigeons this week with his forecast that the bond market was nearing an ‘important inflection point’ and that interest rates would be heading higher ‘within three months’. If…
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First Dubai IPO since financial crisis as DFM rises 20% from low
The Dubai Financial Market is up more than 20 per cent in value since the depths of July when ArabianMoney made a presentation in Vancouver tipping UAE equities, and today the first initial public offering…
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Not another Dubai entrepreneurship conference
Private equity group Abraaj Capital and regional courier giant Aramex are the main forces behind what is promised to be a celebration of entrepreneurship to be held in Dubai’s Madinat conference centre from 8-9 November.…
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