Malaysia is big loser from Abu Dhabi fight

April 19, 2016

Sovereign funds in the two countries have fallen out over a $4.5 bln rescue. That upsets Malaysia’s efforts to contain the financial fallout from scandal-hit 1MDB. It also undermines Prime Minister Najib Razak’s claim that the fund he championed managed to clean up after itself.

Gulf states are on a collision course with tax

December 23, 2015

Wealthy populations in Arab sheikhdoms have mostly been spared taxation. Falling oil prices make that untenable. Laws are being drafted in the UAE for new levies on companies and consumers to offset falling revenue. Other countries in the region will follow.

Don’t wave Dubai bye yet

December 24, 2009

Dubai's reputation has ended the year in tatters, but there's no need to wave Dubai-bye quite yet. Abu Dhabi, the capital of the United Arab Emirates and the source of rescue loans for its neighbor, has good reasons to keep Dubai on life-support.

Stop the Dubai World, I want to get off

November 25, 2009

At long last, Dubai has admitted what has been obvious to everyone else for months: it can't pay its debts.