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Tag Archives: dubai
Can the Banks Force Dubai into Foreclosure?
Dubai’s financial crisis may have calmed a bit now that the central bank of the United Arab Emirates has promised to stand behind the city state’s banks with fresh liquidity.
Dubai’s Woes Are a Blow to Sheik Mo, Its Ambitious Ruler
A few years ago, an adviser went to Sheik Mohammed bin Rashid al-Maktoum with a plan for a tall office building. “Only 90 stories?” the ruler of Dubai asked.
Race to Dubai suffers prize money crisis
The European Tour looks set to suffer a major body blow this week when it announces a reduction in prize money for this year’s flagship $20 million Race to Dubai and Dubai World Championships. A golf insider from the region has told CNN that the impact of the credit crunch on Leisurecorp, the company behind the concept, and the fact the Dubai World Championship has not attracted the handful of marquee sponsors hoped for, has led to a decision to reduce the payout for one of golf’s most lucrative competitions. The running of Leisurecorp’s day-to-day business now falls under the control of Dubai real estate developer Nakheel
‘Most expensive’ city ranking reveals currency tumult
There are a number of ways to measure the financial turbulence of the past year: the billions of dollars in public funds used to prop up banks; the cliff-drop in exports from any major economy; or the latest unemployment report. Another way to judge the financial volatility of the past year is the ranking of the most expensive cities for expatriate employees to live
Brooklyn subway stop named for British bank
The British are coming, the British are coming — to Brooklyn?
Iran’s security council tells Moussavi to back off
Members of Iran’s influential National Security Council have told opposition leader Mir Hossein Moussavi that his repeated demands for the annulment of the June 12 election results are "illogical and unethical," state media reported. Esmaeel Kowsari told the government-run Iranian Labor News Agency in an interview Friday that the council met with Moussavi, former presidential candidates Mehdi Karrubi and Mohsen Rezaie, and former Iran President Ali Akbar Hashemi Rafsanjani, who now chairs the Assembly of Experts
More Than A Mall: Inside Dubai’s Growing Art Scene
The handful of squat and humble warehouses that comprises Dubai’s unofficial creative district bears little resemblance to the emirate’s legendary multi-billion dollar skyline. But in just three years, around 30 galleries and cultural institutions have set up in this dusty neighborhood. In the process, they have helped inspire private and governmental initiatives designed to alter the perception that Dubai is nothing but a characterless, globalized marketplace of vulgar shopping malls and exploited workers
Silence grows as tensions mount in Iran
As a tense Tehran awoke Wednesday bracing for more protests, residents in the capital city and elsewhere said they were too afraid to talk about the political crisis over the phone. Residents, worried the government was monitoring phone conversations, said the Internet was the best way to transmit information about the unrest.
New York Times reporter escapes Taliban
A New York Times reporter who was held by the Taliban for seven months has escaped, the newspaper reported Saturday. David Rohde told his wife, Kristen Mulvihill, that he and a local reporter, Tahir Ludin, climbed over the wall of a compound late Friday where they were being held in the North Waziristan region of Pakistan.