Archive for February, 2013
What happened to the Arab Spring?
- Published on Friday, 22 February 2013 14:19
- 1 Comment
Here’s one of the downsides to owning physical gold…
- Published on Friday, 22 February 2013 13:59
- 3 Comments
A man who arrived in Dubai from Mali carrying six suitcases packed with 210kg of gold plates was robbed while checking into a Deira hotel, a court has heard.
Five Nigerian men on Thursday confessed to the crime of stealing the 45kg suitcase of gold worth Dh8 million ($2.2 million).
The Malian man told prosecutors he arrived in Dubai at 3am on December 21, 2012 with two other friends.
He claims he was followed from the airport by the Nigerians. As he was standing at the reception of his hotel to check in, he said he was shoved from behind and a man grabbed the suitcase and ran from the hotel.
The hottest market nobody is watching – the Dubai Financial Market
- Published on Thursday, 21 February 2013 19:27
- 1 Comment
One market that has been out of the spotlight is the Dubai Financial Market (DFM). Since the beginning of the year, the DFM index has gained 22%… in dollar terms (note: the UAE dirham is pegged to the dollar). See the chart below for a visual comparison of the DFM versus other indexes.
Dubai government sees no reason to privatize DEWA and give up dividends
- Published on Thursday, 21 February 2013 04:38
- 0 Comments
The Dubai government has no intention to privatise the electricity and water sector, Shaikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai, Minister of Finance and President of Dubai Electricity and Water Authority (Dewa), told the media on Tuesday.
“If we allow privatisation for this sector the prices of electricity and water would be more expensive,” Shaikh Hamdan said.
Cash rich Qatar looks for distressed assets as cash poor countries line up
- Published on Wednesday, 20 February 2013 16:04
- 3 Comments
Qatar said yesterday that the new fund, to be called Doha Global Investment, will receive about $3 billion in assets from Qatar Holding LLC, a unit of the country’s wealth fund, and seek to raise the same amount in a share sale to nationals. The Persian Gulf emirate is using wealth from the world’s third- largest gas reserves to acquire assets across the globe.
“Given current low global rates, tight spreads and low volatility, only terrible or European companies now fit in the distressed bracket with significant capital already chasing distressed assets,” said Emad Mostaque, a strategist at Noah Capital Markets in London. “It doesn’t look like an ideal area for investment in the near future.”