UAE

Muslim Brotherhood’s rise sparks paranoia in the GCC

Gulf states wary about the group’s recent political successes in North Africa Speaking at a Ramadan event in late July, Dubai’s police chief, Dahi Khalfan Tamim, issued a dramatic warning against any attempt by the Muslim Brotherhood to overthrow the Gulf monarchies. The movement, he claimed, had “met people from the Gulf” to discuss “toppling [...]

Gas still a challenge for resurgent Middle East market

The combination of the global economic crisis and political turmoil in the Middle East and North Africa made 2011 a tough year for investment in the region. But the significant increase in oil prices and the return of a degree of stability to several of the affected markets means the outlook for the coming year [...]

Debt fears loom over Dana Gas

One month after the United Arab Emirates’ Dana Gas issued its preliminary 2011 financial results, the crucial question of how the company plans to address serious liquidity problems remains unanswered. A $1 billion sukuk (Islamic bond) taken out by Dana Gas in 2007 is due for repayment in October. But the combination of a poor [...]


High gold prices bode well for Middle East

The positive outlook for bullion is good news for Dubai as a niche gold trading centre, and for Saudi Arabia, which is pushing ahead with the exploitation of its gold reserves The inexorable rise of gold prices since hitting a brief low of just over $700 an ounce in late 2008 is showing little sign [...]

UAE economic growth to remain sluggish

The continued global economic uncertainty and a new conservative policy in Abu Dhabi mean UAE economic growth is set to slow in 2012 When the global downturn was biting in 2009, economists were gloomy about the outlook for 2010. But the consensus was that from 2011 onwards, economies around the world would gradually start to [...]