Thursday, June 24, 2004

Dubai Intl Fincl Center Axes Chief Regulators
This is a real scandal, and shows how a number of greedy businessmen in Dubai (who Lord knows are rich enough) continue to line their pockets by outsourcing every piece of business they oversee (as director of publicly owned or government companies) to themselves.

This is not a new concept, and something anyone in Dubai has known for years. It's a shame because this has undermind Dubai's credibility, which is key if DIFC is to ever succeed.