Is the JAL bankruptcy or Cadbury deal the spirit of the age?
The juxtaposition of two completely separate financial transactions on opposite sides of the world are signs of our times: the $19.7 billion knock out offer for UK chocolate giant Cadbury by US group Kraft; and…
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25% devaluation a high price to pay for UK growth
Goldman Sachs is forecasting a stronger than average turnaround in the fortunes of the UK economy this year but only because the value of everything in Britain has been devalued by 25 per cent with…
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Will the markets ever teach bankers a lesson?
If the global financial crisis had been allowed to take its course then hundreds of thousands of bankers around the world would be unemployed by now. There would be no record bonus pools and governments…
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Chinese investors shopping for property in Dubai
Towards the end of next month representatives of more than 20 companies from the Chinese city of Wenzhou will visit Dubai to shop for property bargains.
According to The Financial Times the Wenzhou Business…
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Abu Dhabi's Dubai rescue bonds total $21bn not $25bn
Dubai Government yesterday clarified the position regarding the total amount subscribed from Abu Dhabi for bonds to ease the estimated $62 billion in debts owed by companies controlled by Dubai.
The $5 billion committed in…
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Damac sued in DIFC courts by German investor
Multimillionaire German investor Lothar Hardt has filed a cased against the largest private developer in the Middle East, Damac Properties in the courts of the Dubai International Financial Centre.
According to a report in The…
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Restaurant review: The Meat Company, Dubai
You really cannot find fault with the setting of The Meat Company restaurant in Madinat Jumeirah with its views over the canal towards the spectacular Burj Al Arab, particularly glorious at sunset and when illuminated…
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Will a sterling crisis push the pound into the euro?
While the focus within the Eurozone is directed on the highly unlikely succession of Greece, Portugal, Ireland and Spain, perhaps more attention ought to be paid of the far more predictable sterling crisis that might…
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Marc Faber warns on imminent stock market crash
$1bn Damas debt standstill latest Dubai deleveraging saga
The largest GCC jewelry company Damas is about to sign a $1 billion debt standstill agreement with its creditors, according to The National today. This is just the latest story in a debt deleveraging saga…
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