Interpreting Middle East Economic News and Analyzing Market Trends

Category: UAE

Dubai market closes at high for the year, up over 68%

DFM Index 30-9-2013 YTD

 Source: Marketwatch

The Dubai Financial Market (DFM), one of the main exchanges in the UAE, is up over 68% so far this year.  How long will this last?

 

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Dubai property values rising fast – Experts agree, “this time is different”

With the local stock market up over 65% so far this year and property values up by more than 20%, the experts agree that this time is different.

 

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First Gulf Bank to layoff 10% of workforce, a sign that banks are still struggling in the UAE

First Gulf Bank

The UAE’s third largest bank is cutting its workforce by 10% or 300 people.  The bank has been struggling to regain its footing in the market since it fell hard during the financial crisis.  The move now is a clear sign that the banking sector has yet to recover to where it was before 2008, unlike other sectors of the economy, most notably real estate and tourism.

 

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The idiots guide to understanding the Middle East

Idiots Guide to ME

Image source: @DismantleFed

 

For everyone out there who’s confused as to what’s going on in the Middle East, @DismantleFed put together a nice graph summarizing all the players, who they play with and who they don’t play with.  Still confused?  Well, this is the Middle East.  Click on the graph above to get a full-size version.

 

     

Using debt to payoff debt: an alarming trend in the UAE

Dubai Airport Credit Card

Source: Airport World

  There has been a lot of good news coming out of Dubai this year beginning with the stampede of people rushing to buy yet-to-be-built apartments.  The Dubai Financial Market (DFM) is up over 60% year-to-date, real estate transactions are up 63% and rents are rising rapidly (albiet faster than wages).  Behind the good news however, there is an alarmning trend in debt…

 

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