The rise of Saudi Arabia and Egypt as the top Middle East choices for equity investors is taking a toll on Dubai.
For as long as Gulf economies rely on oil, crude will be a factor in determining how investors trade regional markets. But right now, politics is king.
Investors who bet on exposure to Middle East oil got it right, at least on the first trading day of shares in a unit of Abu Dhabi’s oil giant.
The company that helped build entire neighborhoods in Dubai plans to sell part of its business in the United Arab Emirates in an initial public offering.