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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.

Economic as well as political problems are adding to fears that Yemen is sliding towards state failure. The Kingdom’s military acceleration along the border in November illustrates the considerable force with which Saudi Arabia is prepared to intervene in its neighbour’s affairs

Foreign journalists seem unable to mention the phrase ‘Qatari foreign policy’ without including the adjective ‘maverick’. But there is much more to the peninsula’s unusually prominent role in international relations than mere game-playing. Qatari international relations have long included backchannel diplomacy and high-profile conflict resolution, allowing Doha to become a key regional actor.

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

Omani ministers have been talking up the relationship with Iran, whose importance was underlined by the visit to Tehran this summer of Sultan Qaboos Bin Said Al-Saeed. As well as acting as a mediator between the embattled Islamic Republic and its critics, notably the United States and United Kingdom, Oman has a number of national interests in developing ties with Iran, including in the energy sector.

In a feisty response to critics of the financial crisis just days before the Dubai World default, Sheikh Mohammed Bin Rashid Al-Maktoum stressed the unity of the UAE

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

Since the beginning of 2009, there have been signs that the long-awaited overspill of jihadist violence from Yemen into Saudi Arabia has gathered pace, leading up to last month’s Saudi offensive against militant targets in the Yemeni borderlands.

Stuart Pearce, Qatar Financial Centre’s chief executive since 2005, has stepped down and been replaced by acting chief

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

German construction company Bilfinger Berger is considering pulling out of Qatar because of a disagreement with local state construction authority Ashghal over its Doha expressway project.