Breathtaking projects competed in turn with astounding initiatives to make up what seemed an unending march of economic progress.  In that hectic year, the then Minister of the Economy of the UAE, Shaikha Lubna Qasimi,  was quoted in the media as announcing that the UAE Government was introducing a new Companies Law.

Much has changed since 2006, but the UAE Companies Law has not.  The global financial crisis of 2008 was a fiscal asteroid which changed the business landscape.  The crisis is now recognised as a near miss with economic catastrophe, which could well have taken the world to the bottom of an economic abyss almost as deep and black as that which opened in 1929. 

The 2008 global financial crisis left casualties.  Many of the breathtaking projects and astounding initiatives were scaled back or abandoned altogether.  Likewise, the UAE Companies Law is yet to be enacted.