Interpreting Middle East Economic News and Analyzing Market Trends

Archive for May, 2013

Trump plans on building a golf course in Dubai after failed attempt at building a hotel in 2008

Donald Trump is taking another stab at building something in Dubai, this time it’s a golf course.  His previous attempt at building a 62-story hotel on Dubai’s Palm Jumeirah ran into delays (among other issues) until finally being cancelled in 2011.  Will he be more successful this time?

 

Luxury developer Damac has announced plans to develop an 18-hole PGA Championship Golf Course in its latest project in Dubailand.

Construction of the 7,205-yard, par 71 course, to be named Trump International Golf Club, Dubai is already underway and the course will be ready for play next year.

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Egypt hopes to close budget deficit in the coming years, but how?

With all the negative economic news coming out of Egypt these days, one has to wonder how the government plans on getting out of the hole it’s in.  The Finance Ministry recently announced that it plans on lowering the budget deficit from 10.7% this year to 5.5% by 2016.  It’s good to see that the government is optimistic on reaching this target, but it is not known how it will get to it.  Read our earlier post Top 10 reasons why Egypt is headed for economic disaster to see why Egypt will not reach this target.

 

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