Japan, non-oil Middle East and Portugal back in recession
The double-dip recession has arrived for Japan, the non-oil Middle East and Portugal. And while the March 11th earthquake deepened the latest quarter’s economic decline in Japan, it does not explain the revision of Q4…
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June 1st end for Bahrain state of emergency
Bahrain has announced that the state of emergency imposed in mid-March will be lifted on June 1st. The tiny island has been living under a media blackout for the past few months so it is…
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Deyaar, Damas latest Dubai companies to recapitalize
Deyaar and Damas are the latest in a long line of Dubai quoted companies to agree debt rearrangements with their bankers, putting the trauma of the two-year recession that followed the global financial crisis behind…
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Dubai World finally signs off $14.7bn debt rescheduling but Nakheel deal delayed again
After yet another delay last week for the multiple regional crises, state-owned holding company Dubai World has finally signed an agreement with 80 banks to restructure its $14.7 billion debt. The deal was widely anticipated…
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Bahrain more of a worry to oil markets than Libyan violence
The hastily abandoned crackdown in Bahrain and the renewed mass protests are more of a worry to oil analysts than the horrific violence in Libya, according to a report in The Daily Telegraph today.
The…
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Is Bahrain’s loss going to be the UAE’s gain as a financial centre?
After the tragic events of 9/11 the Middle East was temporarily destabilized and Citibank withdrew more than $40 billion from Bahrain. In due course the money was put back but the bank quietly moved its…
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Financial markets incredibly complacent about Arab World unrest
It is as though past oil shocks never happened. It is as though thousands of rioters take to the streets in Bahrain every weekend. It is as though Egypt is now a safe and secure…
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Egypt still no positive for emerging market risk
When President Mubarak finally stood down last weekend the world and Egyptian mob celebrated. But the appointment of a military junta to replace him and suspension of civil rights has already left some wondering whether…
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Own goal as Qatar orders non-Islamic banks to close their Islamic divisions
Western banks like HSBC and Standard Chartered that also offer their clients Islamic banking alongside traditional banking have been told to close their Islamic operations in Doha.
This is a blatantly protectionist move designed to…
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What do quieter times in Egypt mean for Arabian investors?
While it is always dangerous to call a turning point in a revolution it seems that President Mubarak’s decision to stand down in September has brought the political factions in Egypt to the negotiating table,…
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