Earlier this month, China’s Economic Information Daily published remarks by a senior Chinese official indicating that Dubai’s debt crisis could be a good opportunity for China to purchase gold and oil assets.
Ji Xiaonan (Chairman of the Supervisory Committee overseeing large state-owned enterprises) was quoted as saying that the Dubai debt [...]
While many countries in the Gulf region slipped into recession this year, Qatar has not only avoided the financial crisis but moved straight past it at speed, gaining momentum.
Some eyebrows may have been raised when, at the beginning of the year, the government confidently predicted GDP would rise by around 9% in [...]
Gold fell for the first time during last week, off 4% on Friday to $1,162.40 an ounce, the biggest drop since Dec. 1, 2008 after the new U.S. jobs data showed unexpected strength.
The Dollar rallied against rival currencies while traders reversed the “Sell Dollar/Buy Gold” strategy. (Fig. 1, click to [...]
As doubts grow that in the post Dubai word Russia’s central bank will be able to sustain a great deal of momentum in its ongoing programme of interest rate reductions, we learn this week that the pace of expansion in Russia’s economy slowed back in November, following two months of steady advance [...]
Far from the earthquake unleashed on international markets by Dubai’s request to defer payment of its multi-million dollar debt, the two major stock exchanges in Latin America, Mexico City and Sao Paulo finished November with significant gains in what was the first month world economies began to show signs of recovery [...]
Most markets moved higher in the last week but still lost some upward momentum. The big news, of course, was the request by state-owned Dubai World to renegotiate some of its debt payments.
Coming as it did during a thin holiday market – which may not have been a coincidence – the story sparked a [...]
In recent years Emirati investors have played a key role in the development of Algeria’s economy. Encouraged by the country’s increasingly welcoming attitude towards foreign investment, UAE-based companies have channeled investment and resources into a variety of economic sectors.
The visit to Algeria in May of this year by Sultan bin Saeed Al [...]
Bank of America’s tail-risk warning may indeed be precisely the impetus needed for another Abu Dhabi (the emirate of last resort?) -financed bailout.
Though there is some question as to whether the technical defaults of two state-owned firms–Dubai World, an investment firm, and Nakheel, a real-estate subsidiary of Dubai World–necessarily imply the defacto [...]
Back in the heady days of 2006 some 30,000 cranes, roughly a quarter of total global capacity, were busy whirring away in Dubai.
Today most of these devices have either left to find service in other parts of the globe, or lie silent, unused and unloved. In what is only the latest sign [...]
Today financial markets all over the world dropped by 2-3 percent. That is quite a big, taking into account that major financial and economic news during the past few weeks has been quite good. All major investors, economists and decision takers seemed to agree that we were leaving the recession caused by [...]