business and economy
Dubai’s budget deficit may be lower than expected
Good news for Blackberry carrying types – share prices on the DFM rose 0.5% after reports emerged indicating that Dubai’s economy is performing better than expected. It seems that this year’s budget deficit could be lower than 2% of GDP, making the emirate a more desirable investment than it has been in recent months. The [...]
Abu Dhabi leaves Dubai dangling over debts
It was inevitable really, considering the violence of Sheikh Mohammed’s protestations earlier in the month. It seems that the other emirates, and Abu Dhabi in particular, may have grown tired of indulging Dubai’s reckless expansion after all. Despite Sheikh Mohammed’s vehement denial that Dubai would be left to sort out its own mess, additional help [...]
Sheikh Mohammed tells Dubai and Abu Dhabi doubters to shut up
In an unusually frank and forthright outburst, Sheikh Mohammed bin Rashid al-Maktoum, the ruler of Dubai and Prime Minister of the UAE, dismissed concerns of a rift between Abu Dhabi and Dubai and insisted that Dubai was well placed to recover from the global credit crunch. Dubai has been hit hard by the global recession [...]
World’s biggest candy store opens at Dubai Mall
Recession or not, it seems to be back to business as usual in Dubai as The Dubai Mall welcomes its 1000th retail outlet – Candylicious. Candylicious, at 10,000 square feet, is, typically for Dubai, the largest sweet shop in the world. The store features attractions such as candy embedded pillars, a lollipop tree, the Candylicious [...]
Dubai stable now but gains will be harder in future
One year ago Dubai was rated number one in a survey of financial centres most likely to gain in importance in the future. It was ranked number 22 in the present. It was also the top priority future destination for companies considering setting up new regional offices in the City of London and the Z [...]