Squaring up for business

摘要

The announcement in April of a new federal law governing Dubai's embryonic financial centre heralds a battle royal between the Gulf states of Dubai and Bahrain. Dubai is the upstart in the imminent struggle, while Bahrain is more established but there can be no doubting Dubai's enthusiasm, ambition and 'can-do' approach. The Dubai International Financial Centre (DIFG) and the Bahrain Financial Harbour (BFH) are acquiring the latest legal and physical infrastructure and financial and technological skills to lure global institutions to their patch. Although neither is yet fully up and running, glossy public relations campaigns are hammering home their virtues with extravagant claims and even more extravagant buildings.