Economy / United Arab Emirates
UAE
January 2009 | Ratings UpdateWith the conflict in Gaza dominating headlines around the world in January, the UAE was quick to offer political support and economic aid to the embattled territory. However, we do not expect any fundamental change in Emirati diplomacy. The UAE tends to take a back seat in regional affairs, which is largely a sign of its pragmatism - it is a long-time ally of the US, and is thought to have extensive economic dealings with Israeli businesses, despite the government's official refusal to normalise relations with Israel. As a grouping of Sunni monarchies, the UAE is hardly a natural supporter
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