UAE expat pension scheme only workable as a federal institution
The UAE is understood to be in early talks with the World Bank to introduce a pension scheme for its seven million expatriate workers in lieu of the current end-of-service payment scheme. But with work…
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Why Abu Dhabi really ought to get on with building its museums
So the Bolshoi Theatre is now open after a six-year restoration project, and again offers an iconic cultural delight for tourists visiting Moscow. Why then has Abu Dhabi just put its superb new Guggenheim museum…
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Emerging market central banks buy gold on discount is it heading higher?
Gold has been on sale recently since topping out at $1,913 in September, and Bloomberg reports that Bolivia, Kazakhstan, Thailand and Tajikistan have spent a total of $1.5 billion buying 27 tons of the yellow…
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Bull trap for Gulf stock market investors?
Share volumes on the Dubai Financial Market surged to over 200 million today as traders bought into the idea that the eurozone crisis deal closed last Thursday would actually deliver meaningful results and not disappointment…
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Riots in Shanghai as property firms slash house prices
Around 400 recent homebuyers in Shanghai rioted yesterday and a number were injured after smashing up a property showroom in protest over falling prices, believed to be down by up to 25 per cent. The…
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Soros gives the eurozone deal between ‘one day and three months’
George Soros, the legendary hedge fund investor who broke the Bank of England almost 20 years ago predicts that the eurozone deal agreed last week will only prevent a financial market crisis for between ‘one…
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No excuse for accepting bad service in the UAE
Customers in the UAE are increasingly active in giving immediate feedback on bad service. The old days of feeling hesitant to criticise have largely gone. Indeed, modern management here positively welcome feedback that helps improve…
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Financial markets top-out and prepare for a dramatic crash
You don’t need to be an expert chartist to read the lesson from the graph below. The FTSE 100 is a good proxy for the global financial markets. It shows a clear head-and-shoulders pattern marking…
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UAE $220bn net creditor nation reveals IMF report
Europe gets a credit contraction without a formal banking crisis, what next for investors?
When is a crisis not a crisis but has the same effect? Answer: when EU leaders decide on how to handle their banking crisis.
The deal emerging from the conference chambers of Brussels late last…
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