United Arab Emirates
Nakheel has presented an offer to creditors to restructure the debt. This is seen as a cautiously positive move....
The UAE announced that a committee tasked with unifying the country’s financial laws has met....
Reports of an attempted coup in the northern-most emirate of Ras Al Khaimah are unraveling....
The UAE and Dubai economies appear to be decoupled. The UAE is projecting growth of up to 4% next year, while Dubai continues to slump. Further contraction in Dubai is expected this year....
Naval exercises by Iran in the Straits of Hormuz have prompted GCC leaders to strengthen their joint defenses and call for a united effort against Iran....
Tensions have risen between the UAE and Iran over the three disputed islands in the Gulf....
The UAE has announced that laws that will reduce monopolies, increase competitiveness and harmonize laws across the federation have been drafted....
Members of the UAE legislature, the Federal National Council, are increasingly becoming vocal that no election date has been set....
The UAE ministry of labour has stopped 800 of the country’s large companies from hiring staff. This came as a result of the ministry’s efforts to address non-payment of wages to staff....
Contradictory remarks by the Dubai government and Dubai World are further indication that issues of governance, transparency and communications are not being addressed....
Nakheel has indicated that it may not pay back the Islamic bonds – sukuks, which mature in May 2010. A default by Nakheel could trigger an array of downgrades of Dubai government-related entities....
The stoppage of work by Arabtec on Nakheel projects indicate that the Dubai problems in general are far from over and that chances of a quick recovery are remote....
The assassination of a senior Hamas leader in Dubai threatens to tarnish the image of the emirate as one of the region’s most open, yet safest....
The call by British Business Secretary Lord Mandelson calling on Dubai to resolve its debt problem puts further pressure on Dubai to put its act together....
Al Gosaibi family has filed a court case against Al Sanea in New York in their long running family business dispute....
Increasing tensions between the West and Iran increases the risk of Iranian attacks against Western interests in the GCC....
The UAE has indicated that it will scrap current regulations that force large companies to employ local Emaratis....
Dubai Holding has severed its ties with Standard and Poor after the rating agency downgraded Dubai Holding....
A leading Kuwaiti daily reported government sources as saying that there is an increased Al Qaeda threat in the Gulf, in view of the ongoing Yemen war....
Dubai’s Union Properties new Chairman announces that the company does not need government assistance. However, over 1,000 construction workers have held a rare demonstration due to unpaid salaries....
