I heard this on the BBC World Service radio coming home from work (in Kuwait).
I wasn't very surprised on the whole, except that the it was Dubai rather than smaller Gulf cities with higher shi'a activism/vocalism.
Finger's crossed it's just a "temporary" status, nothing will happen, and it will blow over. I remember when I used to live in Dubai, a couple of bombs went off. As it wasn't my local Spnney's, you just get on with it as I think most other resident expats would.
Tourism-wise though? Ouch.