Dubai’s budget deficit may be lower than expected
Good news for Blackberry carrying types – share prices on the DFM rose 0.5% after reports emerged indicating that Dubai’s economy is performing better than expected. It seems that this year’s budget deficit could be lower than 2% of GDP, making the emirate a more desirable investment than it has been in recent months. The [...]
Happy 2010 to all Dubai Dreams readers
Happy new year to all our readers. 2009 has been a tough year for Dubai, but there are signs that 2010 might be a year of stabilisation or even slight improvement for the troubled emirate – at least Abu Dhabi has finally stepped up to shore up some of Dubai’s debts now. Anyway here’s to [...]
Abu Dhabi leaves Dubai dangling over debts
It was inevitable really, considering the violence of Sheikh Mohammed’s protestations earlier in the month. It seems that the other emirates, and Abu Dhabi in particular, may have grown tired of indulging Dubai’s reckless expansion after all. Despite Sheikh Mohammed’s vehement denial that Dubai would be left to sort out its own mess, additional help [...]
The history of Dubai
Dubai, confusingly, is both a city and an emirate within the UAE (United Arab Emirates). Founded by Maktoum bin Bati bin Suhail, the city (or town as it then was) of Dubai was incorporated in 1833, although it did exist prior to this date. Dubai has continued to be ruled by descendants of its founder [...]
The rise, fall and salvation of Dubai
The First Post has a great background piece on the rise and, much exaggerated, fall of Dubai. It features a potted history of how Dubai became so wealthy and why the emirate chose to take the direction it did – because its oil resources were predicted to be exhausted by the 2020s for those who [...]