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Bahrain is mounting a sustained self-promotion programme, highlighting such reforms as evidence that it is different from other Gulf states. One such venture was a direct encroachment onto Dubai's turf,

Dubai has established five new committees in an effort to climb out of its financial crisis. The committees are headed by conservative Dubai figures, underlining the emirate’s perception that appointing establishment figures to key jobs will help restore international confidence.

Death

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. “Israel, at the end of the day, is an ideological right-wing government,” he said. “The settlement issue is very important.

Torture trial

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

The United States has launched a national security investigation into the proposed sale of a stake in Sir Richard Branson’s Virgin Galactic

Gulf Co-operation Council (GCC) head Abdelrahman Al-Attiyah told Al-Arabiya television on 24 November that will propose

The Central Bank of the UAE governor spoke to GSN about why the UAE pulled back from the current plan for GCC monetary union

Many critical questions remain to be answered as the Dubai crisis unfolds

Most investors refused to question starry-eyed statements about Dubai’s mega-investments or assumptions that oil-rich Abu Dhabi would step in if the emirate’s bold investment strategy foundered. The crisis shows that Gulf leaders can no longer shirk their public responsibilities in a globalised economy – and leaves difficult questions to be answered about other firms’ finances and the impact of likely further shifts in the UAE balance of power

The financial crisis is likely to provide a bonanza for accountants, lawyers and other professional services companies, and several groups of creditors have begun to organise. The Financial Times reported that one group includes HSBC, Standard Chartered, Royal Bank of Scotland, Lloyds and local banks, who have formed a steering committee and were preparing to meet Dubai World representatives.

The extent of local banks' exposure to Dubai World remains unclear - and evaluating lenders' exposure is difficult since secondary market trades can reduce or increase an original lender's exposure, while new lenders can enter the market.

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

Markets quaked following the ‘bombshell news’ that $26bn of Dubai World’s debt had been put on standstill. Dubai, the UAE authorities and some western commentators reverted to their default position, arguing that markets over-reacted and that all was really very well, but the default may have revealed only the tip of an iceberg that hides more over-leveraged government-related entities with poor investment strategies, faulty business models and weak management