I think this is a uniquely Anglo cultural thing, in the backdrop of a stricter gender norms formed out of industrialization. Everybody is so afraid of being seen as gay while maintaining a front of being politically correct about it (I suppose there is genuine fear of being publicly labelled a homophobe or a racist).
In almost all parts of the world, there's nothing wrong with grown men hanging out or grabbing drinks to share trial and tribulations of life.
Perversely, in some very homophobic cultures, men hold hands with men because they are so homophobic that there is not even an insinuation that they might be willing to publicly show homosexual inclinations, so handholding is assumed platonic.
Yes, this is common for Arab men -- when I was in Sudan men (even middle aged and older men) held hands walking down the street. To a westerner it just looks very odd, but it's normal for them.
However, I think your (gowld's) comment transfers a lot of cultural baggage and sexual-orientation lingo from western culture in a way that I think is quite rude. Those Sudanese guys weren't holding hands "peversely, because they're so homophobic", they're doing that because that's how they've grown up and it's a totally normal thing for male friends to do over there.
I've noticed this when traveling in other countries or when dealing with people from outside of the US. I think that's why the majority of my friends in college were exchange students.
In almost all parts of the world, there's nothing wrong with grown men hanging out or grabbing drinks to share trial and tribulations of life.