United Arab Emirates

Dubai  16/11/09

Nakheel moves cast doubt on company’s flagship project

Dubai-government owned developer Nakheel has indirectly acknowledged that it does not plan to continue building its flagship man-made island project the Jebel Ali Palm....
Dubai  02/11/09

Senior Dubai Holding official arrested in massive fraud case

The arrest of the CEO of a major Dubai government-owned developer in a major fraud case will result in shaking the confidence in the governance situation at Dubai’s major developers....
Dubai  02/11/09

Emaar announces profits in Q3 but no news about merger

Results from leading Dubai developer shows some positive results in the short-term. However, there are no clear long-term plans putting the survivability of Emaar and similar developers into question....
Dubai  02/11/09

Dubai plans to borrow $6.5 billion from global markets

Dubai has issued US $6.5 bn of bonds. This demonstrates that Abu Dhabi is still not helping bail Dubai out and that Dubai is now looking at external markets to refinance its mounting debts....
Kuwait  16/10/09

Migrant Workers Demonstrate in Kuwait

Over 700 expatriate workers held a sit-in outside the Ministries' Complex in downtown Kuwait in protest against their 'inhumane' living conditions and delayed salary payment for three months....

UAE Adopts Nuclear Law ahead of Power Plant Contracts

The United Arab Emirates has adopted a civilian nuclear energy law that paves the way for contracts worth US $41 billion for the construction of power plants....
Bahrain  16/10/09

Bahrain Plans Massive Airport Expansion

Bahrain announced plans to expand it’s airport to keep with growing competition from airports. This will aid the country’s efforts to diversify its economy in the face of dwindling oil revenue....
Bahrain  16/10/09

GCC States Plan New Agricultural Fund

GCC states announced plans for a new US $2 billion agricultural fund in coming months to secure food supplies by buying stakes in existing agricultural firms....
Albania  13/10/09

Ease of doing business - comparative chart between GCC, CEE and SEE regions

The chart shows absolute ranking of the selected countries in the World Bank Doing Business 2010 Report. Most SEE countries have improved their position since the last report. Despite this, they are i...

13 UAE banks exposed to Saad and Gosaibi groups

The UAE Central Bank has announced that thirteen UAE banks are exposed to the collapse of the Saad and Algosaibi family groups. This puts further strain on the UAE banking sector....
Bahrain  01/10/09

GCC rail network by 2017

The announcement that the GCC-wide rail like will start operating in 2017 is a welcome move for all GCC states....
Dubai  15/09/09

Migrant workers in Dubai protest against underpayments

Protests by construction workers in Dubai employed by major contractor Al Habtoor Leighton is an unusual show of protest about underlying the troubles facing major Dubai construction companies....

UAE expels Palestinian, Lebanese and Iranian expatriates

The UAE authorities have expelled tens of Palestinian, Shiite-Lebanese and Iranian expatriates, giving little explanation. The expulsions may reflect security concerns....

UAE government moves to protect foreign investors

The UAE indicated that it plans to move ahead with a foreign investor protection law, in an effort to attract foreign investors to the country....
Dubai  15/09/09

Dubai Metro starts partial operations

The opening of Dubai Metro is expected to gradually provide a long-term solution to the traffic problems as well as help boost the image of Dubai at a time when it is badly needed....

Plans to explore setting-up “Gas City” in Yemen

Plans to construct “Gas City” by a UAE-based consortium will likely help fill the gaps in the country’s finances in the long-term, but more immediate political and economic solutions are needed....
Dubai  31/08/09

Dubai government-owned entities in panic sale of assets

Dubai government-owned companies have embarked on major reforms and restructuring, as well as panic selling of assets....
Dubai  15/08/09

UAE Scrapped Minimum Capital Requirement for New Companie

The UAE has scrapped the requirements for new companies to have a minimum capital of Dh 150,000. This will contribute to encouraging new businesses and entrepreneurs to set-up in the UAE....
Saudi Arabia  05/08/09

Saudi Festival Canceled at the Last Minute

A well-publicized film festival canceled at the last minute. This indicates that traditionalists within the royal family are still willing to appease the more extreme religious elements...
Bahrain  03/08/09

Financial Woes of Al Gosaibi and Saad Families are Signs of Wider Problem

The global financial crisis that has severely hit parts of the GCC has exposed the vulnerability of the Gulf economies to risks posed by the large exposure of those economies to family businesses....

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