Flat UAE cars sales point to stagnant 2010 economy
Middle East cars sales are picking up but first quarter sales remained flat in the UAE, indicating that the emirates’ economy remains depressed after the real estate crash last year.
Dealers told Gulf News that…
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20,000 new homes to drive Abu Dhabi prices down 20%
The upcoming supply of 20,000 new homes is going to swamp the Abu Dhabi property market this year and threatens a further 10 to 20 per cent fall in rental prices, according to estate agents.…
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Sheikh Hamed bin Zayed appointed ADIA boss
Sheikh Hamed bin Zayed Al Nahyan, chief of the court of the Crown Prince of Abu Dhabi has been named new managing director the Abu Dhabi Investment Authority after the recent tragic death of his…
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Arabtec dumps Abu Dhabi on Nakheel payment hopes
The UAE’s largest construction company Arabtec announced that it has abandoned plans to sell a 70 per cent stake to an Abu Dhabi sovereign wealth fund, a move originally seen as an emergency bailout in…
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Foreign investors desert UAE stock markets
Foreign investors have cut back their positions in UAE stocks by almost 90 per cent as a result of the global recession, according to an interview with a senior official from the Abu Dhabi Securities…
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Chanos thinks Chinese property bubble very dangerous
Legendary short trader and hedge fund manager Jim Chanos has China in his sights these days and is astonished by the growing property bubble that he says is Dubai times a thousand.
The video clip…
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Roubini sees Fed rates on hold for a year
Professor Nouriel Roubini or Dr Doom correctly forecast the US housing crash a few years ago and the subprime crisis. But his recent prognostications on the stock market rally have been wide of the mark.…
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Jim Rogers still bullish on commodities
It would be even bigger news if the author of Hot Commodities was bearish on commodities. But this is a long wave cycle whatever the short term ups and downs.
Jim Rogers thinks commodity prices…
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Rich Dad’s advisor predicts $15,000 an ounce gold
Within a few years Rich Dad Robert Kiyosaki’s gold and silver advisor Michael Maloney believes that gold will be worth $15,000 an ounce. ArabianMoney editor Peter Cooper has just published a book predicting $5,000 an…
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Aluminium oversupply from Gulf smelters threatens prices
This week saw the official opening of the new Qatalum aluminium smelter in Qatar and by the end of the year the new Emirates Aluminium smelter in Abu Dhabi will come on stream.
Between them…
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