Dubai Still Digging Out of Debt

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June 1st, 2012 featured

IN EARLY APRIL, DUBAI’S MUNICIPAL GOVERNMENT reported that the number of abandoned cars — the symbol par excellence of the once-high-flying emirate’s economic bust — rose by 10 percent in the first three months of this year from the same period a year earlier. But rather than seeing that indicator as a sign that the economy [...]

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Dubai Leads the Rise in Islamic Finance

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July 1st, 2011

As they were reviewing the bank’s funding needs recently, executives at HSBC Holdings decided to take a fresh look at sukuk, or Islamic bonds. Three years earlier the London-based bank had announced plans to issue up to $5 billion of sukuk under a medium-term financing program, but it never proceeded because the sukuk market, which seized [...]

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