Mohammed Bin Rashid Al Maktoum

By Abid Ali in Business on December 28th, 2009
Photo by Reuters

I want to introduce you to my world. The world of Christmas viewing in the UK. "Take That Come to Town", "Take That: Backstage at the Circus" and "Take That: The Circus Live". One afternoon and evening of pop bliss - some would say.

For those of you who don't know this group comprised of five lads. Robbie Williams, who went on to solo success, and the others who split up but came back and have had something of a renaissance.

By Abid Ali in Business on November 27th, 2009
Photo from AFP
Abu Dhabi has completed its due diligence of Dubai and decided that its neighbour’s assets aren’t worth the paper they’re written on.
 
After initially being given $10 billion, the brash emirate of Dubai was expecting another $10 billion – it got only half that amount.
 
Dubai had been trail-blazing, setting the example for it neighbours, trying to diversify its economy from exposure to oil, and it was doing that by buying up companies around the world and hoping falling oil revenue would be replaced by profits from these businesses.
 
The problem is, the global recession has meant profits have declined, assets aren’t worth the inflated prices paid during the boom years. The strategy of cheap money, remortgaging, that caught home owners out, has also trapped Dubai.  
 

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