Economic threat that haunts UAE

Did you hear the one about the economist who accurately predicted nine out of the last five recessions? Forgive my little joke at the expense of the honourable profession of men and women who try to make sense of the complicated and arcane workings of the economy and how it impacts on society. But I think it symbolises a truth...

Going for gold in business Olympics

The Olympics are nearly upon us again, and after all the controversy over the global relay of the Olympic flame – surely one of the most ridiculous pieces of shambolism ever inflicted on us – it will soon be time for the serious business of track and field, which is what the Games are supposed to be all about. There...

US Treasury in protectionist mode?

Will the UAE and other Gulf countries be forced to unwind the big investments they have recently made in the US economy? Will there be a fire-sale of assets held by Gulf investors in sectors as far apart as Wall Street and Las Vegas? The danger of such a forced disposal programme, which would involve billions of dollars worth of...

Pop out for a near-death experience

If you want to go anywhere in the UAE, you have to travel by road. Yes, for the uber rich there is the option of a helicopter, luxury yacht or private jet and in the future we will have the metro. But, for now, whether it’s by car, bus, motorcycle or bicycle, you pretty much have to travel on...

Corporates catch sub-prime virus

This is when it could all get very serious. Until now, the financial crisis that hit the United States last summer has been confined to that sector; the write-downs, plummeting share prices and executive departures have all come from the banking, investment, share trading and other financial groups. The action taken by the Federal Reserve in cutting interests rates...

Mideast has role to play in airline rescue

There are certain points in every business cycle when even the optimists give up and accept that they are about to lose a lot of money. For the aviation industry, I’m afraid that point has now been reached. The past two weeks have given us a snapshot of how badly airlines will be affected by oil prices at $115 a...

Of Football Ecstacy and Euro Cracks

There's a risk the euro could split into at least two denominations Britain – the whole of the country – is suffering from bi-polar disorder. For those who dislike medical terminology, I mean to say that we Brits – just about everyone I meet – are a nation of basket cases. For a start, there's the joy and despair of the...

Car Culture: The UAE’s Biggest Cultural Export?

If you're a true petrol-head (or gearhead if you're American) and haven't been living under a rock for the last decade, then you probably are all too familiar with the UAE's biggest digital export. Everyone knows that oil is the UAE's biggest gross export, as it boasts some of the largest reserves in the world. However, only those in the...

Innovation, Ingenuity, Introspection; UAE’s Formula for Success

The United Arab Emirates, is a country of emirates, which many people don't take the time to fully understand. An Emirate is simply a territory that is ruled by an Islamic monarch or "king". So, the United Arab Emirates is simply a group of kingships or dynasties. These are comprised of Abu Dhabi, Ajman, Dubai, Fujairah, Ras al-Khaimah, Sharjah,...

Uber Suspends Their Service in Abu Dhabi

An unusual dispute is developing in Abu Dhabi between the authorities and the internet based taxi booking company Uber. There appears to be significant debate about the details of the dispute, which has resulted in both Uber and its chief rival Careem, suspending services. Both companies operate a pre-booking system using the internet, and rumor has it that as many...