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NEWS ABOUT: Abu Dhabi

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Oil-Price Surge Fuels Global Investing Binge

Producers' deep pockets evident in Abu Dhabi's Citigroup outlay

(Newser) - Petrodollars have fueled an investing binge in companies ranging from chipmaker AMD to private-equity giant Carlyle Group to Citigroup. And, with nearly $5 billion in oil revenue gushing weekly into Persian Gulf nations, the spree won’t likely slow, the New York Times reports. “The oil-producing countries simply cannot... More »

Abu Dhabi Bails Out Citigroup With $7.5B Deal

Cash infusion for 4.9% stake will make it Citi's largest shareholder

(Newser) - Staggered by the weight of subprime mortgage losses and with its stock trading at its lowest level since 2002, embattled Citigroup last night announced a $7.5 billion cash infusion from the government of Abu Dhabi, the Wall Street Journal reports. The deal strengthens Citi’s capital base and investor... More »

All Eyes on OPEC for Oil Price Relief

Saudis expected to boost output as prices close in on $100

(Newser) - With oil prices poised to pass the $100 mark any day now, a pair of reports speculates that OPEC will cool the overheated market by boosting oil production, the Wall Street Journal reports. One consulting firm said OPEC, spurred by Saudi Arabia’s increased deliveries to the US, could up... More »

Chip Maker AMD Gets Emirate Cash

Abu Dhabi buys 8.1% stake in Intel rival for $622 million

(Newser) - The government of Abu Dhabi, through its investment arm, bought an 8.1% stake in Advanced Micro Devices for $622 million. It will receive 49 million newly-issued AMD shares, but won't get any board representation. The computer chip maker desperately needs the cash after a $396 million loss during the... More »

10 Years on, Bilbao Still Wows

(Newser) - Frank Gehry's Guggenheim Bilbao is ten years old this week, freshly buffed and looking better than ever, Bloomberg reports. The birthday is marked by a successful show of American heavyweights like Keith Haring, Julian Schnabel and Richard Serra. Bilbao continues to benefit from the cultural attention garnered by the building,... More »

Musharraf Meets with Exiled Pakistani Leader

Bhutto, a former rival, could be key ally in his bid for re-election

(Newser) - Embattled Pakistani president Pervez Musharraf met with exiled opposition leader Benazir Bhutto yesterday in Abu Dhabi to rally support, sources tell CNN. The two leaders haven’t spoken since Musharraf seized power in 1999, but their reps have been talking for months.  Musharraf hopes to hang on to the... More »

Deal Threatens Ancient Tribe in Tanzania

Government agrees to rent safari land, pushing endangered people to the brink

(Newser) - The Hadzabe people of Tanzania walk in age-old footsteps near the once-bountiful Serengeti plain, starting fires with sticks and hunting with handmade poison arrows. Now the tribe has crossed paths with the royal family of Abu Dhabi, and the resulting conflict endangers a way of life that has endured for... More »

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