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2010 UAE – Federal archive

2009 UAE – Federal archive

2008 UAE – Federal archive

2006-2007 UAE – Federal archive

Pre-2003-2005 UAE – Federal archive

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2010 Archive – UAE – Federal

FNC awaits National Day speech for election signal

Emiratis are awaiting direction on whether there will be elections in February 2011, and whether they will get a bigger say in government. But an unpopular 6% budget cut indicates the leadership is in no mood to compromise
Issue 890, 26 November 2010. more

Business spat boils over into diplomatic row

Canada’s denial of extra landing rights for United Arab Emirates national carriers Emirates Airlines and Etihad Airways after five years of negotiations has strained relations.
Issue 890, 26 November 2010. more

Post-financial crisis environment has put GCC risk under a harsher spotlight

The effects of the global downturn on Dubai, Bahrain and Saudi Arabia have forced traders, financiers and insurers to assess GCC credit and political risk more closely. And some firms are expanding their GCC teams to do so.
Issue 890, 26 November 2010. more

Meetings with foreign dignitaries

Ahead of the visit of Britain’s Queen Elizabeth II and her husband, Prince Philip, senior Al-Nahyan were busy meeting foreign dignitaries.
Issue 890, 26 November 2010. more

Governments seek Atacms deals

Bahrain and the UAE are due to purchase MGM-140 Army tactical missile systems (Atacms) from US arms manufacturer Lockheed Martin, according to the US Defence Security Co-operation Agency.
Issue 890, 26 November 2010. more

Al-Ghurairs speak out

Federal National Council (FNC) president Abdelaziz Abdullah Al-Ghurair on 21 October called for “strengthening the role of the national council as a leading legislative and oversight authority”.
Issue 889, 12 November 2010. more

Chinese visit boosts ties

Senior Chinese officials were in the Gulf in early November, where Abu Dhabi Crown Prince and UAE armed forces deputy commander Sheikh Mohammed Bin Zayed Al-Nahyan held talks with vice-chairman of China’s Central Military Commission Xu Caihou and his delegation.
Issue 889, 12 November 2010. more

UH-60M deliveries, Apache fleet

The UAE Air Force has confirmed it will take first delivery of the new Sikorsky UH-60M Black Hawk utility helicopters in February, as it expands its fleet following deals with the US’ Defence Security Co-operation Agency (DSCA) for 40 of the aircraft.
Issue 889, 12 November 2010. more

Al-Ghurair tries to unblock Emirati investment in Algeria

United Arab Emirates investors are again trying to get projects off the ground in Algeria, with Federal National Council president Abdelaziz Abdullah Al-Ghurair meeting President Abdelaziz Bouteflika in Algiers earlier this month to push their case.
Issue 889, 12 November 2010. more

New naval base opened to secure exports

A new naval base in Fujairah was opened on 20 October as the federal government seeks ways to secure its ability to export oil amid growing tensions with Iran and concerns over the accessibility of the Strait of Hormuz.
Issue 888, 29 October 2010. more

Tour of Asia

Foreign minister Sheikh Abdullah Bin Zayed Al-Nahyan has been on a tour of Asia. In Vietnam, he held talks with President Nguyen Minh Triet, prime minister Nguyen Tan Dung and foreign minister Pham Gia Khiem.
Issue 888, 29 October 2010. more

Silence over future of assembly

The mandate for the current Federal National Council (FNC) expires in February, but there is still no news on whether the government plans to allow another election. Last week, several FNC members pressed the government to announce arrangements for the election of a new house, and to give the council more power. But the UAE’s ruling Supreme Council has failed to clarify the situation.
Issue 887, 15 October 2010. more

Canadian troops expelled

A dispute between Canada and the UAE over air traffic has cast doubt over the future of the secretive Camp Mirage, believed to be at Al-Minhad airbase in Dubai, an important hub for Canadian operations in Afghanistan and home to some 2,900 troops.
Issue 887, 15 October 2010. more

BlackBerry ban lifted

The UAE has lifted the ban on Canada-based Research in Motion (RIM)’s BlackBerry mobile phone services, which was due to be imposed on 11 October, saying the company was now in compliance with state regulatory law.
Issue 887, 15 October 2010. more

Rafale deal stalls over Israel

The proposed deal between Abu Dhabi and France’s Dassault Aviation for the supply of 60 F4 Rafale multi-role fighter aircraft has stalled over French media reports linking the UAE to Israeli military co-operation.
Issue 887, 15 October 2010. more

Abu Dhabi takes an ever larger stake in Dubai Inc

Dubai’s return to the international credit market has been heralded as another sign that the commercial emirate is rebuilding confidence and balance sheets following its debt crisis. Less public is evidence that Abu Dhabi has built up a commanding position in the Dubai economy, much to Sheikh Mohammed’s discomfort
Issue 886, 1 October 2010. more

Etisalat moves to buy Kharafi and other Zain stakes

A move by UAE state telecommunications company Etisalat to buy a substantial stake in Kuwaiti telecoms player Zain comes as Abu Dhabi extends its ambitions to buy assets in the region following the global downturn
Issue 886, 1 October 2010. more

Abu Dhabi sees results of diversification but employment concerns remain

Risk management report
Issue 884, 3 September 2010. more

US congressman points to RAK as ‘gateway to Iran’

US Democratic congressman Brad Sherman has told the House Committee on Foreign Affairs that the UAE remains a “transhipment and diversion hub” and does “not effectively control exports to Iran and other countries of proliferation”.
Issue 882, 30 July 2010. more

MBR in Europe

Sheikh Mohammed Bin Rashid Al-Maktoum visited UAE President Sheikh Khalifa Bin Zayed Al-Nahyan at his residence in Evian on 21 July.
Issue 882, 30 July 2010. more

Raytheon wants more deals

US aerospace giant Raytheon has said it is in discussions to equip the UAE with naval missiles and is developing ties with the UAE’s Critical National Infrastructure Authority (CNIA), which is responsible for defending strategic assets.
Issue 882, 30 July 2010. more

Emirates Aluminium’s $737m deal maintains GCC financing momentum

The Middle East project finance market has been boosted by recent deals in Saudi Arabia and the UAE, and the opening of US export credit agency Export-Import Bank in Iraq
Issue 882, 30 July 2010. more

Foreign colleges get headlines, UAE nationals fear crisis of education

It is not just financial management and governance that is worrying the professional classes and other stakeholders in Dubai. There is growing concern about the education system, which the commercial emirate has until very recently insisted it manages itself. Now, according to a senior publicly appointed official in the UAE’s higher education sector, Dubai is to return its education portfolio to federal level.
Issue 881, 16 July 2010. more

Lubna Al-Qasimi: US meetings

Emirati foreign trade minister Sheikha Lubna Bin Khalid Al-Qasimi has held talks in Washington with US secretary of state Hillary Clinton and undersecretary of state for political affairs William Burns.
Issue 879, 18 June 2010. more

Big insurer elects new board

One of the UAE’s largest insurers, Oman Insurance Company (OIC), has elected a new board after all seven members resigned “for personal reasons”.
Issue 879, 18 June 2010. more

ECIE unscathed by payments default

Recently created credit insurer Export Credit Insurance Company of the Emirates had a successful first year despite the Dubai debt crisis and other effects of the global credit crunch.
Issue 879, 18 June 2010. more

Waha Capital raises funds for military

Abu Dhabi-based Waha Capital has said it has a mandate to raise $3.3bn for the UAE’s military. Waha chief executive Salem Rashid Al-Nuaimi said: “We’ve been mandated to raise funding for the military to the tune of Dh12bn.”
Issue 878, 4 June 2010. more

Rifles order

The UAE has agreed to buy $560,000-worth of specialised assault rifles from South Korea. The order for 40 K11 airburst rifles makes the UAE the first foreign customer for the weapon
Issue 878, 4 June 2010. more

Risk management report

Few signs of real recovery as leveraged economy still causing problems
Issue 878, 4 June 2010. more

Abu Dhabi and France edge closer to Rafale deal

While the United States has become a key strategic partner for the United Arab Emirates, Abu Dhabi’s old alliance with France holds strong. This seems to be very good news for Dassault, as the UAE looks to buy advance fighters that will help to ensure its security with Iran among the potential threats in mind
Issue 877, 21 May 2010. more

MBZ and other bin Zayeds: International relations

Abu Dhabi Crown Prince Sheikh Mohammed Bin Zayed had held a meeting with Morocco’s foreign affairs minister Taieb Fassi Al-Fihri. Federal foreign minister Sheikh Abdullah Bin Zayed has been in Kabul, for talks with Afghan President Hamid Karzai.
Issue 877, 21 May 2010. more

Border issues pose potential for conflict

Public tensions have died down following reports of a skirmish between Emirati and Saudi vessels that was blamed on a dispute over the route of the Dolphin pipeline which brings Qatari gas to the UAE (GSN 874/1). But outstanding border issues continue to stoke tensions in several Gulf jurisdictions, with upsurges in nationalist sentiment showing that feelings over territory and sovereignty remain important in states that are only a few decades old.
Issue 875, 23 April 2010. more

Saudi-UAE naval clash over Dolphin pipeline points to brittle GCC relations

Both parties have yet to deny or confirm the incident, but a reported clash between Saudi and Emirati patrol boats has attracted much media attention and highlighted the potential for friction among GCC allies that has provoked renewed fears for Gulf security
Issue 874, 9 April 2010. more

Also see Issue 874, 9 April 2010. Who’s signed what? Border agreements

Abu Dhabi in the spotlight as its GRE receive ratings downgrades and Adia issues first review

Six Abu Dhabi government-related entities and UAE state-owned Etisalat have been downgraded, while Abu Dhabi Investment Authority’s first review lacks detail
Issue 873, 19 March 2010. more

Diversification a success, but leveraged economy now causing problems

Risk management report
Issue 873, 19 March 2010. more

Mourning

A three-day mourning period was announced in late February following the death of family elder Sheikh Mubarak Bin Mohammed Al-Nahayan.
Issue 872, 5 March 2010. more

Al-Fahim under pressure on all fronts

Former head of Abu Dhabi’s Hydra Properties Sulaiman Al-Fahim has provided the western media with a bounty of stories over the past two years, but has been in even deeper trouble back home.
Issue 872, 5 March 2010. more

UAE needs to focus on transparency

It would be hard to tell there was a Dubai financial crisis, with the UAE’s bank reporting season in full swing. On the face of it, results so far suggest there is better news coming out of Dubai than Abu Dhabi, but consideration of UAE financial risk may be better based on transparency rather than good news.
Issue 871, 12 February 2010. more

Abu Dhabi responds to Dubai default, difficult recovery to come

Risk management report
Issue 869, 15 January 2010. more

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2009 Archive – UAE – Federal

UAE Minister: Time to press Israel, not cosset it

It is clear the UAE disagrees with Qatar over its overtures to Israel, even if the differences are politely stated. Talking to GSN in Abu Dhabi, minister of state for foreign affairs Dr Anwar Gargash made plain his exasperation at the international community’s failure to take serious action over the continued expansion of Jewish settlements.
Issue 868, 18 December 2009. more

Dubai World: $4bn down, (at least) $56bn to go

As lenders decide whether to approve Dubai World’s $26bn debt standstill request, many questions remain – not least over other entities, the legal case and wider impact on the region
Issue 868, 18 December 2009. more

The Dubai crisis has put relations with Abu Dhabi under the spotlight – and the fallout will be huge

The genesis of the crisis, and the confused and opaque manner with which it has been handled, raises questions about the viability of traditional ruling models without the support of sovereign state institutions and accountability. Meanwhile, the delicate balance of Abu Dhabi-Dubai relations has shifted again
Issue 867, 4 December 2009. more

What has yet to emerge from the crisis?

Many critical questions remain to be answered as the Dubai crisis unfolds.
Issue 867, 4 December 2009. more

Weighing up international banks’ exposure to Dubai and wider UAE

Figures are starting to emerge for the extent of creditors’ exposure to Dubai and its government-related entities. The Wall Street Journal (WSJ) reported that European banks have some $83.7bn-worth of UAE exposure, including UK-based banks with $49.5bn, French banks with $11.3bn, German with $10.2bn, Dutch with $4.7bn, Swiss banks with $4.3bn, Italian and Belgian banks together with $3.2bn.
Issue 867, 4 December 2009. more

For more on the Dubai crisis see the 2009 Dubai archive

Abu Dhabi political outlook on negative trend, Dubai finances downgraded

Risk Management report
Issue 867, 4 December 2009. more

Downturn’s all over now, federation united, MBR says

The worst of the economic downturn is over, Dubai’s ruler said as he joined a chorus of Emirati voices emphasising federal unity – which may be significant after months of speculation over relations between Abu Dhabi and Dubai.
Issue 865, 20 November 2009. more

Emirates’ balance of power affected by crisis

Dubai and other emirates may be talking up the apparently limited impact of the global economic crisis and triumph of federal unity, but many analysts believe the fallout from the credit crunch will further alter inter-emirate relations.
Issue 865, 20 November 2009. more

Khalifa Bin Zayed: Re-elected

UAE and Abu Dhabi ruler Sheikh Khalifa Bin Zayed Al-Nahyan has been ‘re-elected’ as president. Supreme Council members and rulers agreed that Sheikh Khalifa will rule for another five years.
Issue 864, November 2009. Full story

Abu Dhabi pushes UAE nuclear plan

The UAE’s civil nuclear programme is notionally a federal affair, but it is being driven forward with some gusto by Abu Dhabi, confirming its position as the dominant driver of federal energy policy.
Issue 864, November 2009. more

Carriers tap ECA money

The UAE’s two leading airlines have tapped nearly $650m in bond and debt facilities backed by export credit agencies (ECAs), reflecting the attractiveness of long-term ECA support at a time when commercial debt remains scarce and highly priced.
Issue 863, 23 October 2009. more

Nayef’s rise up the Al-Saud pecking order adds to the complexity of Saudi relations with the UAE

The elevation of Prince Nayef to second deputy premier has been closely observed in the UAE, where the veteran Saudi interior minister is regarded as being party to bilateral disputes since the foundation of the federation, writes Sultan Sooud Al-Qassemi
Issue 861, 25 September 2009. more

Risk Management Report

Abu Dhabi deploys wealth to bail out Dubai, subsidise state entities
Issue 861, 25 September 2009. more

French base, US blessing

France’s opening of its new 400-600 personnel base in Abu Dhabi marks a considerable step forward to French commitment to the UAE and wider GCC (see GSN view). The opening of the base on 28 May was marked by high-level French diplomatic engagement, including UAE President Sheikh Khalifa Bin Zayed Al-Nahyan, French President Nicolas Sarkozy and a range of other senior diplomats and military officials.
Issue 855, 12 June 2009. more

Abdullah woos the UAE after central bank spat highlights lack of trust in the GCC

Rarely do GCC disputes get more public, and it will take more than warm words from Riyadh to win back the Al-Nahyan into the currency union fold. For Abu Dhabi, bank location is the deal-breaker.
Issue 854, 29 May 2009. more

Trade financiers see hopeful signs in return of GCC liquidity

An easing in UAE market liquidity could represent an early turnaround signal for GCC trade finance markets that have experienced unwelcome contractions linked to the wider global crisis. GSN canvassed market opinion to see if talk about a speedy upturn were warranted.
Issue 854, 29 May 2009. more

French base opens, Europe must do more

France is opening its much-anticipated first permanent military base in the Gulf later this month, in Abu Dhabi, signalling its long-term strategic commitment to the region as well as further reinforcing an already close bilateral relationship. President Nicolas Sarkozy, who will fly in to inaugurate the base, has given high priority to cultivating links with all Gulf Co-operation Council governments, and the wider Middle East, since his election in spring 2007. But ‘Sarko’ is under Arab pressure to show this regional engagement can deliver results, particularly in reviving the moribund Israel/Palestine peace process.
Issue 853, 15 May 2009. more

Also see Issue 854, 29 May 2009. French base opened, Rafale talks

Abu Dhabi gets closer to first Bayunnah launch

The United Arab Emirates Naval Forces’ Baynunah corvette is moving towards readiness for launch in summer 2009. The first vessel, shown by French shipbuilder Constructions Mécaniques de Normandie (CMN) at IDEX 2009, was declared structurally complete and installed with propulsion machinery in March. Sensors and systems are now being installed and will be tested in sea trials this autumn. The Bayunnah will later undertake presence patrols in the UAE’s territorial waters and exclusive economic zones (EEZs), as well as surveillance, maritime interdiction, support to land forces and protection of ports and UAE-flagged vessels.
Issue 851, 17 April 2009. more

Risk management report

GSN Risk Grade — A-B/1-2: Abu Dhabi buys distressed assets, Dubai counts credit crunch cost
Issue 850, 27 March 2009. more

Transport aircraft boom continues with $3.4bn deal

The UAE on 24 February took its latest plunge into the global defence market, formally signing a letter of request for $3.4bn worth of US military hardware from The Boeing Company and Lockheed Martin. The deal was the centrepiece of the ninth International Defence Conference and Exhibition (IDEX) in Abu Dhabi. Reflecting the oil emirate’s leading role in the federation’s defence procurement, Abu Dhabi-based investment firm Al-Waha Capital will manage the purchase.
Issue 848, 27 February 2009. more

UAE’s US ties flourish as Emirates seek to become a different kind of US ally

The UAE has deliberately stepped up its rhetoric to support US policy in the region while the Obama administration is settling in and preparing to receive its first briefings on Centcom’s region-wide assessment of Gulf policy. Personal and collaborative technology relations between the two militaries have become very close, even on such thorny policy issues as Iran’s nuclear programme.
Issue 847, 13 February 2009. more

Also see Issue 847, 13 February 2009. UAE talks tough on missile defence

UAE nuclear programme waits on Obama

The signing of a bilateral agreement on civil nuclear co-operation with George W Bush’s administration prior to the Republican president’s departure from office has raised some eyebrows in the United States, for fear that it will spark a ‘nuclear arms race’ in the region.
Issue 846, 30 January 2009. more

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2008 Archive – UAE – Federal

Risk management report

GSN Risk Grade — A-B/1-2: Abu Dhabi’s extreme wealth called on to counter credit crunch
Issue 843, 19 December 2008. more

Senior UAE, Qatari sheikhs talk big business – and small arms – in Algiers

A flurry of diplomatic missions to Algiers during November emphasised the strengthening trade and investment bonds within the Middle East and North Africa region: defence deals were on the agenda.
Issue 842, 5 December 2008. more

Female ambassadors

The UAE has announced its first female ambassadors with the appointment of Sheikha Najla Bint Mohammed Bin Salim Bin Mohammed Al-Qasimi to Sweden, and Dr Hassa Al-Otaiba to Spain.
Issue 838, 10 October 2008. more

Risk management report

Booming economy, relatively immune from the credit crunch so far
Issue 837, 26 September 2008. more

Abu Dhabi goes head-to-head with Dubai with media, sporting and Hollywood deals

Abu Dhabi’s recent attention-grabbing deals highlight the wealthiest emirate’s emergence as an increasingly high-profile force to be reckoned with – astride the world stage and within the United Arab Emirates, where a further round of shifts in the internal power balance are coming to light.
Issue 836, 15 September 2008. more

Abu Dhabi ‘shifts’ on dollar peg

There has been an apparent shift in strategy within the UAE towards Gulf Co-operation Council currency’s dollar peg, with a weekly report from the Abu Dhabi Department of Planning and Economy (DPE) arguing on 5 July that it was time to sever the link and move to a basket of currencies, thereby using revaluation rather than stimulating domestic inflation as a means to cope with the dollar’s slide (GSN 827/13).
Issue 833, 11 July 2008. more

Cause of UK’s UAE terror alert buried deep in Whitehall

The UAE has developed into a glitzy global business and leisure hub without apparently attracting the ire of ultra-radical jihadists, whose bombing campaigns have so challenged the Emirates’ key allies, from Washington to Riyadh. GSN’s efforts to explain London’s recent warning suggest the UAE is not under imminent threat, but that enemies undoubtedly exist who might rattle the Emirates’ calm façade.
Issue 832, 30 June 2008. more

Also see Issue 832, 30 June 2008. The UK’s UAE move: interpreting FCO threat, alert levels; UAE threat outlook: attack more likely to come from outsiders

Flirting with Rafale

News from Abu Dhabi that the UAE is ‘seriously’ considering the replacement of its Mirage 2000 warplanes with the multi-role Rafale, also built by Dassault Aviation, has given the French company hope that it will at last find an international buyer for an aircraft that has repeatedly lost out to the Eurofighter or the US F16 in the tussle for foreign orders.
Issue 831, 13 June 2008. more

UAE tough on migrants, shows business limits to compassion

At a time when several Gulf states are modernising the rules that govern the employment and treatment of foreign labour, Emirati parliamentarians want to turn the clock back with measures designed to spare their country any obligation to comply with inter national conventions on the treatment of migrant workers.
Issue 829, 19 May 2008. more

Dirham/dollar peg under review

The UAE leadership appears exercised over the question of whether the dirham should remain pegged to the dollar, with a flurry of statements and meetings since federal Vice President, Prime Minister and Dubai Ruler Sheikh Mohammed Bin Rashid Al-Maktoum (MBR) told journalists during his 31 March-3 April official visit to China that he had established a committee/commission to study the UAE’s dirham/dollar peg .
Issue 827, 21 April 2008. more

UAE goes with Patriot in US $20bn arms offer

The parcelling out of the United States’ $20bn Gulf arms sale package has smoothed the way for the sale of advanced air defence missiles – aided by the prospect that Russia might supply missiles if the USA dropped out.
Issue 825, 17 March 2008. more

Also see Issue 825, 17 March 2008. Countering the airborne threat to the UAE’s tall buildings

Access to gas is crucial to continuing the UAE’s boom

Each UAE city state now has big plans to bring in industrial and real estate investors to help meet their growing populations’ demands, but GSN’s soundings suggest these ambitions are being put at risk by differences over how to allocate the federation’s energy resources.
Issue 824, 29 February 2008. more

Also see Issue 824: UAE gas use: a question of supply and demand

MBR means business in cabinet reshuffle

Mohammed Bin Rashid is stamping his mark on the UAE’s government, with a focus on efficient administration rather than political or market liberalisation.
Issue 824, 29 Febuary 2008. more

Project finance market’s robustness under the microscope ‘post sub-prime’

Bankers and sponsors’ success at maintaining aggressive pricing and large commitments for the next wave of big ticket projects in the GCC will be a big test of lending appetite. As credit crunch concerns mount world-wide, the Gulf has what it takes to weather the global crisis, but it is not immune from all aspects of the downside – not only of the sub-prime debacle but also of other pressures on credit providers, starting with spiralling EPC cost.
Issue 822, 1 Febuary 2008. more

Another Islamic bank and one more in the wings

Noor Islamic Bank (NIB), which has opened its first branches in Dubai, has ambitious plans – but so do some of its competitors as more giant banks open across the UAE.
Issue 822, 1 Febuary 2008. more