Today’s column was originally scheduled to discuss the economic consequences of jumping taxi queues, a subject of increasing urgency in Abu Dhabi, where cabs are as rare as rain, and of increasing irrelevance in Dubai, where reports are emerging of taxis stalking pedestrians. Suffice to say that the solution involves the well-placed application of a cricket bat.
It has been suggested, however, that recent developments in the nation’s efforts to blunt the impact of the global economic crisis may deserve a considered view. In particular, officials have been suggesting an imminent conclusion to the long-delayed merger of Dubai mortgage lenders Amlak Finance and Tamweel into a federal bank.
Some reports have suggested that the Government may help out the merged bank by buying some of its existing loans.
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