Clearly the UAE authorities were not prepared for such a fast pace of development. For a country that proudly claims to have US$500 billion worth of real estate projects under development, it is high time for the federal government to enact serious nationwide laws and regulations that will set this haphazard industry straight. Why UAE real estate is in real need of some sanity right now. Read more »
Lessons Are To Be Learnt
In the world of finance, the means is just as important as the ends, if not more so. DP World could have been more accommodating to regional investors; its shares allocation angered as many investors as it satisfied. In this article, Sultan Sooud Al Qassemi questions why the DP World IPO was managed the way it was. Read more »
The Adolescent Funds
Adolescent funds are threatening to endanger growth and prosperity for the sake of a few headlines and photo opportunities. Government-owned funds would benefit from a code of conduct. Read more »
Let’s Play Monopoly
In the GCC, many family firms have thrived on monopolistic activities, and as they compete with each other in regional and international rich lists, they refuse to allow others to compete with them in their own territory. Are the respected positions that these family businesses enjoy in the world rich list more important than the wellbeing of the general population? Read more »
The Myth of Islamic Finance
One of the latest additions to such urban legends as the Loch Ness monster, UFOs and environmentally friendly land reclamation is what is now known as Islamic Finance. It is a new scam that started in the second half of the twentieth century and has only really taken off in the last three decades. Does Islamic finance make any difference at all? Read more »
The Elusive Currency Union
The GCC needs to make up for lost time and implement a strategy with preset milestones and dates to reach an agreement on unifying its laws and regulations concerning foreign direct investment, banking and financial services and the legal system, amongst other issues. If the GCC countries agree on unifying their laws, there may be hope yet for the currency union sometime in the future. Read more »