Dubai officials are outlining plans for financial reforms in the wake of the emirate's credit crisis. The governor of the Dubai International Financial Center, a state-run banking hub, said Monday the United Arab Emirates federation is putting in place a "wide-ranging program" aimed at addressing shortcomings in the country's financial system.
Persistent economic weakness is sapping the ability of governments to tackle the growing threat of climate change and risks a global “perfect storm” of intertwined financial and ecological collapse, the World Economic Forum has warned.
As we noted here, despite record high stock prices and talking-heads imploring investors to believe CEOs are confident, they are not (consider the clear indication of a lack of economic confidence from tumbling capex and soaring buybacks), That is further confirmed today as Markit's survey of over 6000 firms showed optimism falling sharply in
The Dubai Financial Market General Index (DFMGI) rose 1.9% yesterday after a continuous decline for three days. The increase was primarily driven by property stocks, including Emaar Properties PJSC (EMAAR) and Arabtec Holding Co (ARTC), which were up 1.9% and 1.3% the same day. These two stocks together comprise 28.5% of the weight in the DFMGI, with Emaar Properties alone contributing to significant 22% of weight. The two stocks have been the major drivers of recent volatility in Dubai’s financial markets.
In the three decades before the recent financial crisis, rapid globalization helped the world’s trade grow at twice the rate of the global economy.
But those halcyon days seem to be behind us, at least for now. Instead, global trade has become stubbornly weak and has yet to return to its pre-crisis levels, all the while continuing to trend below the world’s GDP growth.
WASHINGTON — Washington knew Egypt and the United Arab Emirates were planning to secretly carry out air strikes against Islamist militias inside Libya, a U.S. official said Tuesday.
A New York Times report said U.S. diplomats were “fuming” because the United States was not given prior notification of the attacks.
The official, however, said the U.S. warned Egypt and the U.A.E. against going through with plans for a possible operation.
The underlying momentum in the global economy is weaker than it should be at this point of the economic cycle, five years after the global crisis
LONDON — As evidence mounts that a mid-year slowdown taking place in the world economy, the next few days will offer a clearer glimpse of how that will impinge on policymaking and buoyant financial markets.