Effectiveness beats Efficiency in Strategy Firms need new revenues not just cost cuts 

Efficiency slowed profit deterioration Effectiveness will replace efficiency as the main strategic goal of UAE companies in 2018. At least, it will for the successful companies. 2017 was the year of efficiency, as companies learnt to do what they used to do with less. Less money, less time, fewer people. Efficiency cut costs and slowed down profit deterioration. As important

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EU's tax blacklist of UAE questionable It is not clear if the UAE is violating something it agreed to or if the EU is trying to unilaterally enforce rules on the UAE

Earlier this year an ambassador from an EU country asked me if I invested in the EU. I informed him that I didn’t. When he asked me why, I pointed out that the EU had treated two of their members, Greece and Britain, abhorrently, and had tried to punish both countries in ways that made no sense to me. I

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Saudi Vision 2030 must tap rich parts of the private economy

Using Saudi Vision 2030 as an example, in a previous article I pointed out that economic reform is difficult to get perfectly right on your first try, but I also pointed out that complaining about it without trying to provide solutions is usually an ineffective strategy for providing feedback to the decision makers. Especially since Thursday, when the Saudi government unveiled its

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FGB-NBAD Merger: A Whimper or a Bang?

This article was meant to be about managing a merger. It turns out that this is hard to explain without first understanding the goal of the merger. There has been little information made public in terms of the thinking behind the FGB-NBAD merger, with some commentary from analysts. Here I will discuss various ideas on the merger.

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Mediocrity as a strategic goal for UAE banks?

For some time, and as mentioned in previous articles of mine, I have wondered how there could be over 50 banks in the UAE, around half of which are full operating banks, given a population of circa 8 million, over half of whom are blue collar workers not in need of banking services. Basic economic theory would suggest that competition

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