27 March, 2009

Dubai sets its own rules as foreigners flee hard times

AP Report:
"Dubai has been the poster boy for globalisation and the free flow of globalised capital," said Mahdi Mattar, author of the Shuaa Capital report. "It built a reputation as a city run like a company. You see what happens to companies when globalised capitalism begins to fall apart."
At least the article's not touted as being written by a so-called journalist who got to know Dubai by either spending 2 hours in transit at DXB or taking a big bus tour.

4 comments:

Anonymous said...

Is that the same Shuaa Capital that was fined and disciplined, by DFSA, for manipulating price of DP World shares?

The same Shuaa that objects to conversion to shares when market moves against them?

Google search suggests they are one and the same!

DUBAI JAZZ said...

Good article, thank you for posting NZM!

Anonymous said...

Shuaa capital = Like father, like son

ask anyone about their black history in the past and they will tell you what they've been doing since the 50's.

Kyle said...

Others see a mixed blessing - a chance to simply catch their breath.

I agree with this quote from the NZ Herald article. But then again, being lethargic for an extended period of time also has its own consequences & repurcussions. Hope that doesn't come to pass, here or any where else.

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