It is quite self evident that global financial markets have not yet properly discounted what is going on in the Middle East and North Africa. That is because apart from the $100+ oil price nobody has a clue what is happening here, and those that do are too preoccupied fighting wars or dealing with the unrest and revolutionary fervour.
To some extent this is understandable: if you don’t know then do nothing is a perfectly common position. It can also be a very expensive one. Getting rich through sheer ignorance does not often happen. So down on the ground in Dubai, and last night in Deira for the launch party of the Movenpick hotel’s excellent Wok In restaurant, what are people saying?
Well, we heard about the organiser of the conference in Bahrain last year sponsored by ArabianMoney. He has just upped and moved to Dubai with his family. Apparently Bahrainis are also leaving for Dubai. The worry is that the situation in Bahrain looks awfuly like Belfast in 1969 when the British army arrived and stayed for almost 30 years.
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