United Arab Emirates

BMI View: The financial crisis has raised important questions about the Islamic finance industry, and we remain bearish Gulf sukuk, a position we first adopted in August 2007.

We see renewed downside risks for Dubai stocks, after the benchmark Dubai Financial Markets General Index (DFMGI) pushed through the 2,600 support level that we identified last week.... 2008-11-10

Interbank deposit rates in the Gulf have eased slightly after central banks followed the US Fed's 50bps rate cut this week, but we think the liquidity crisis has further to run, and... 2008-10-31

Interbank deposit rates in the Gulf have eased slightly after central banks followed the US Fed's 50bps rate cut this week, but we think the liquidity crisis has further to run, and... 2008-10-31

We may see some further stock market upside in the Gulf this morning, following the Dow Jones rally. Upward moves have tended to be fairly short-lived in these volatile times, but... 2008-10-29

Recently released figures from the Islamic Finance Information Service (IFIS) concerning global sukuk issuance clearly illustrate our long-held view that the market is not favourable... 2008-10-22

Gulf markets followed their global counterparts in bouncing strongly yesterday, but while we think the uptick may have further to run in the short-term, we are reluctant to call it... 2008-10-14

Moves by the UAE authorities over the weekend confirm our view that the government will not allow any local financial institutions to fail. Such a move would be politically risky... 2008-10-13

Along with just about every other market worldwide, UAE stocks are in freefall. Since re-opening on October 5 following the Eid holiday, both the Dubai Financial Markets General Index... 2008-10-07

On August 4, we examined the key implications of a US dollar bounce (which has been our core view since early July) on Middle Eastern currencies. With the greenback having rallied... 2008-10-06