Welcome to Globalization: Recession

The world is entering into a recession. The Saudi’s can say what they will. The UAE can claim that liquidity is stabilizing, but the truth of the matter is, it is not.
Banks are no longer giving out loans, in sharp contrast to the ridiculous handouts that went on until a few months ago. The UAE […]

3.6% of UAE GNP to charity unlikely

The National ran a story about the UAE’s claim of donating 3.6% of GNP to charity. Sir John Holmes rejected these claims and labeled them ‘dubious’.

Don’t import labor, outsource!

As the costs of operation increases in the UAE, outsourcing becomes a lot more attractive to companies, big and small. It is no longer an IT-only domain either. Outsourcing helps contain costs while continuing to be competitive.

Dubai Customs vs. IMF?

Dubai Customs not thrilled with IMF’s Mohsen Khan

Mr. Mohsin Khan seems to be upsetting Dubai Customs with statements about VAT causing a 2% inflation in the UAE. Dubai Customs’ Al Saleh rebuffed Khan’s statement, citing that they are personal observations and do not reflect the IMF’s report. Considering that the IMF report hardly touches on […]

IMF says it’s all good.. but is it?

International Monetary Fund

The IMF says the Gulf is looking good:
The International Monetary Fund has issued an upbeat outlook for economic growth across the Middle East and central Asia, saying that high prices for oil was likely to insulate the region from the broader global economic downturn and keep money flowing into new industries and poorer […]

The Tax Man Cometh.. or was he already here?

There is a lot of talk about VAT lately. Dubai Customs has been all over the news and radio, discussing their technical readiness to implement the VAT. When looking at their own website, the latest news item on the subject dates back to December 25, 2007 with a clarification about inaccurate reports in the media. […]

Emirates NBD — the merger

When news of the merger between NBD and Emirates Bank first surfaced, I was baffled by it. Having never dealt with Emirates Bank, I only know that they are aggressive with their loans/facilities/etc. I also have dealt with NBD and know how conservative they are. It seems like a merger between the most aggressive and […]

The cost of doing business on the rise

Nothing new there. However, what’s new is that companies are starting to consider moving out of Jebel Ali Free Zone, DMC, DIC, etc. JAFZA routinely fines companies for the silliest of reasons and continuously increases fees to services. Generally this follows a trend in Dubai, but for companies who opened up in JAFZA, they are […]