Frank Kane: Between a black rock and a hard place | The National:
"How should UAE and regional markets react to the news that BlackRock, the American investment institution reckoned to be the biggest asset manager in the world, has scaled back its buying of shares in Dubai and Abu Dhabi?
The company said it was reducing its exposure to UAE markets after detecting what it called signs of “speculative excess that warrants caution” in local markets. Other big global investors might feel the pressure to follow BlackRock’s example, some local market professionals fear.
The Dubai and Abu Dhabi markets experienced small declines on the day the BlackRock view was made known, but recovered the following day, suggesting that many think it a storm in a teacup."
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