Bahrain
Kuwait
Oman
Qatar
Saudi Arabia
UAE
What will happen
· The price of crude oil tips over the $100 a barrel marker
· The Abu Dhabi Investment Authority (ADIA), the planet's largest Sovereign Wealth Fund and Mubadala, the emirate's investment arm, increases its stake in Citigroup and Ferrari respectively and snaps up even more global assets in banking, retail, energy and iconic brands
· Bahrain commences work on a second causeway, this time between the Kingdom and the gas-rich emirate of Qatar
· As the cost of commercial rent rises and space becomes increasingly scarce due to a lack of supply, a number of large banks, telcos and global businesses leaves their traditionally successful Middle Eastern bases in favour of cheaper locations such as Bahrain and Qatar
· GCC Central Bank governers finally come to a decision over currency revaluation
· Emaar, builder of the world's tallest tower the Burj Dubai, and its holding company, announces its intention to launch a US$40bn secondary listing on the London Stock Exchange in the summer - a move that places it in the UK FTSE's top 25 companies
What might happen
· Qatar wins the rights to host the 2016 Olympic Games
· The Burj Dubai opens on time on New Year's Eve 2009
· GCC Central Bank governers finally come to a decision over currency revaluation
· Serious consolidation takes place in Saudi Arabia, the UAE and Qatar with five heavyweight institutions emerging victorious
· Emirates Airline lists 20% to 30% of the company handing the Dubai International Financial Exchange the biggest boost in its short history.
· Other large UAE companies follow Emirates' lead and also list locally. These include Nakheel, the developer behind Dubai's trio of Palm projects and The World, aluminium giant Dubal and regional jewellery retailer Damas
· Talk of Gulf single currency scrapped
· After failing to snare Liverpool Football Club, Dubai finally scores a majority shareholding in a top-flight Premier League football team
What won't happen
· World leaders come together to organise a day of mourning as George Bush leaves the White House
· Hilary Clinton becomes President
· Hotel production grinds to a halt due to lack of tourists
· Sir Richard Branson granted UAE citizenship
· Customer service improves across Gulf restaurants
· Umm Al Qwain begins work on a metro system
· GCC Central Bank governers finally come to a decision over currency revaluation
· Iranian Islamic Republic president Mahmoud Ahmadinejad duets with Chris de Burgh on his hit song Lady in Red in the country's capital of Tehran.
· Ahmadinejad promptly deports de Burgh and re-records the ballad, claiming it be his own
Posted by James, Dubai, UAE on 26 January 2008 at 12:49 UAE time
Try - sent the US dollar to a 17 year LOW, not high. And the Ruppee is worth far MORE than it was 12 months ago.
By the way being proud of the chaos that ensued following your stroy on the dollar depeg is nothing to be proud of, if that what your implying happened.
HSBC and other major banks were profiteering in the aftermath buying dollars at 3.40 and selling at 3.69? Best of both worlds for them? Or just covering themselves? But a disaster for everyday businesses and people who were stuck with dollars and debts in dirhams... all on the back of mere speculation - go the market economy?!?. The banking industry - along with Arabian Business should be ashamed.
Posted by N. A. Mirza, Jeddah, Saudi Arabia on 31 December 2007 at 17:39 UAE time
Looks sound and indeed worth preserving. December Timeline should have stories on the most peaceful and accident free Haj, BJP's history-making victory in India's western state of Gujrat and above all assassination of Benazir Bhutto. An analysis on King Abdullah's sincere peace efforts was a must.
Editor's reply: December's timeline will be updated with the happenings of the last two weeks of December shortly.
Posted by RAJENDRA ANEJA, DUBAI, UAE on 27 December 2007 at 11:50 UAE time
Best news:
1. Some peace in Iraq and refugee return.
2. More focus on climate
3. Dialogue between Bush, Putin
4. No war with Iran
5. Talks between Israel, Palesine
6. Shakira going to study at a university
Worst news:
1. Continuation of world poverty
2. No cure for Aids, cancer
3. Human rights violations and beating of monk in Burma
4. Inflation across the word, including Gulf.
5. Instability in India, Pakistan.
6. I have not become a movie-star (the pay is better, than that in management).
Posted by RAJENDRA ANEJA, DUBAI, UAE on 26 December 2007 at 17:04 UAE time
The review writtn by Mr James Bennett, is sound, pithy and covers all key issues. Congratulations for this excellent encapsulation.
I hope 2008, will be a more enlightened year for the Gulf and for all of us. Let us hope, we realise that money is important, but without good HR practices, there can be no profits in the long run.
And as the Bible preaches, "What does it profit a man to gain the whole world, at the loss of his own soul."
Posted by Frank Dane, Dubai, United Arab Emirates on 26 December 2007 at 11:26 UAE time
That is one of the best Year in Reviews I have seen. Really polished - especially on the later months - October to December. I love it. Thank you - another great reference site, and hugely entertaining as well.
Posted by Adam, Kuwait, Kuwait on 25 December 2007 at 08:53 UAE time
The Kuwait government needs to get a life.. The men in parliament cannot handle a women minister. I admire her and for what she is doing and putting all these silly men to shame.. Wake up guys...
Try - sent the US dollar to a 17 year LOW, not high. And the Ruppee is worth far MORE than it was 12 months ago.
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