dubai daily news
The world needs to find a new Saudi Arabia every two years to meet oil demand
The world oil consumption is increasing by one to two million barrels a day, per year, against a natural decline in the oil wells and reservoir of around eight per cent a year, warns Hamid Jafar, executive chairman of Dana Gas.
Jafar made this observation while addressing the senior bankers at the ‘Bankers Lunch’ at Dubai [...]
The UAE can’t afford to turn shoppers into savers
In the US, with the economy stalling, the government earlier this year handed households a $1,200 tax rebate with the instruction to ‘go out and spend’. It’s hoped this stimulus will get the economy moving.
In the UAE, the government now decides consumers are shopping a little too much. Taking out loans to buy sparkly handbags, [...]
Reaching closure
Blessed with the bulk of the world’s oil reserves and after more than four years of consistently buoyant prices, GCC economies have grown at sometimes staggering rates lately – hitting double figures in nominal terms. And their relatively young stock markets, in spite of the major correction in 2006, have also mushroomed in value. [...]
| Fast company
When MerchantBridge’s Samir A. Arab test-drove a Spyker car a few years ago, he was impressed. “How much?” he asked. “$250,000,” came the reply. “No, no. For the company …”
So in true Victor Kaim-style, MerchantBridge, a London-based private equity firm with offices and interests across the Middle East, found itself with a stake in an [...]
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