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The Hudson Institute's New York Web site, which has some excellent commentary on Middle East geopolitics, has an anonymous article on what it calls the "dark side" of the United Arab Emirates:

Although a signatory to free trade agreements, the UAE does not, for instance, allow American companies to legally operate within its billion dollar VOIP sector and allow users to make computer-to-mobile-phone calls. This is done to protect the state-owned monopoly, Etisalat [Emirates Telecommunications Corporation], although recently Dubai started a similar company, DU...

Moreover, the UAE, which illegally shuts out American companies the right to participate in its lucrative VOIP sector, has, either directly or through its front-companies, delved into a buying spree of its own in the U.S.. Their assets include: A tower and adjacent plot of land at 1466 Broadway, owned by the UAE company, Istithmar, which also owns Dubai World. Jumeirah Essex House New York, on Central Park South, Jumeirah being a district in Dubai. Barney's Department Store, New York City. Mandarin Oriental Hotel, New York City. W Union Square Hotel, New York City.

See also the classic New York Sun editorial "What the UAE Bought."

Source: What About UAE / Dubai's New York City Assets?