"In its ambition to rise to a global financial center, Dubai suffered a number of setbacks in recent months, which have proven the might of London as a hub for Middle Eastern banking.
Although Dubai established almost a decade ago the Dubai International Financial Center (DIFC), which, as a "state in a state," is governed by laws similar the British financial regulations, the sheikhdom is still struggling to lure capital and attract financial experts.
Earlier in the year, London, on the other hand, attracted two stock listings from the United Arab Emirates (UAE). New Medical Clinics (NMC) and Al Noor Hospitals opted for the London Stock Exchange instead of the stock markets in Dubai."
'via Blog this'
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