GLOSSIES
Booming reality counters talk of bubble in Middle East's 'Manhattan'
New York Nov 17, 08 1:55 PM CST
(Newser)
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Back in Texas, Brooke Butler’s friends are worrying about their homes and jobs. Butler has other worries. “I’m thinking it’ll take about 5 years to make a million now,” the 24-year-old saleswoman tells New York . “It’s not that difficult over here.” Here is Dubai, the Persian Gulf emirate with a real-estate and investment boom seemingly immune to the world’s economic crisis.
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Vacationing couple slapped with 3-month sentences for sand snuggle
Guardian (UK) Oct 16, 08 4:59 AM CDT
(Newser)
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A British couple has been slapped with a three-month sentence for a drunken roll in the sand on a Dubai beach, the Guardian reports. Prosecutors say the pair—an expatriate woman and a visiting businessman—were spotted having sex on the beach after meeting each other at a champagne brunch that afternoon. The woman insists they were merely kissing and hugging.
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First visit by Arab head of state big boost for Iraqi government
BBC Aug 12, 08 2:10 AM CDT
(Newser)
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In a key sign of returning stability in Iraq, King Abdullah of Jordan paid a surprise visit to Baghdad yesterday, becoming the first Arab head of state to travel to the nation since the overthrow of Saddam Hussein by the US military. The trip, postponed from last month after a security leak, holds tremendous symbolic significance in the Arab world, reports the BBC.
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79 people detained by 'decency police'
Associated Press Jul 15, 08 6:38 AM CDT
(AP)
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It hasn't been all fun and games for Western vacationers on Dubai beaches, thanks to decency police who have detained 79 people in recent days for topless sunbathing and nudity, AP reports. The Muslim city-state is attracting hordes of foreign sun seekers, who are being scrutinized by cops on the ground and in beach watchtowers. Detained vacationers were "disturbing families," said a Dubai spokesman.
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Baghdad wins boost from key Arab states
BBC Jul 7, 08 4:31 AM CDT
(Newser)
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Iraq's diplomatic isolation among its Arab neighbors is easing , reports the BBC. The United Arab Emirates canceled Iraq's entire debt of close to $7 billion and appointed a new ambassador, while Jordan's King Abdullah will become the first Arab head of state to visit Iraq since 2003, boosting the Baghdad government's standing in the region.
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May have been a record; then Abu Dhabi sheik shelled out $7M for pair
RIA Novosti (Russia) Apr 9, 08 12:28 PM CDT
(Newser)
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A Dubai prince broke the bank yesterday at an Abu Dhabi event billed as the world's top camel festival, spending $2.7 million on a prize-winning female. That was a record—until an Abu Dhabi sheik outdid him, shelling out $7 million for a pair of racing camels, RIA Novosti reports. The more expensive of that duo was also a contest winner.
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US technology exports to UAE getting diverted to Iraq via Iran
New York Times Apr 2, 08 11:26 AM CDT
(Newser)
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A year ago American technology started turning up in roadside bombs used to attack US troops in Iraq, the New York Times reports, and the rogue computer circuits were tracked to the United Arab Emirates. There investigators found the UAE's controls so lax that sensitive technology imported from the US was being exported to Iran, eventually landing in the hands of Iraqi insurgents.
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After US grabs, officials focus on secretive sovereign wealth fund
New York Times Feb 28, 08 3:23 PM CST
(Newser)
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When Abu Dhabi's investment arm poured $7.5 billion into Citigroup, to bail out America's biggest bank, the move didn't escape notice in Washington. The world’s biggest sovereign wealth fund has been flexing its muscle, making increasingly aggressive investments in foreign interests, the New York Times reports. And though there’s nothing to suggest it has any goals beyond making money, the secretive fund is raising some concerns.
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Run on solar power, Masdar City will cost $22 billion and take 8 years to construct
BBC Feb 10, 08 5:14 PM CST
(Newser)
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Earth's first carbon-free city is being built in the United Arab Emirates and will take 8 years and $22 billion to complete, the BBC reports. Called Masdar City, it will run on solar power and shuttle residents on travel pods via magnetic tracks. But critics say the $22 billion project, funded by the city of Abu Dhabi, belies the oil-rich emirate's overall gobbling of resources.
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Repairs could take days or even weeks
CNN Feb 1, 08 1:18 PM CST
(Newser)
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A third cable carrying Internet traffic to the Mideast was cut today off the Persian Gulf emirate of Dubai, and web and phone service remained disrupted in large areas of the Mideast and India because of breaks in two cables in the Mediterranean Wednesday. The cables severed earlier carried as much as three-quarters of the traffic between Europe and the Mideast, so their loss was more serious, CNN reports.
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Military base in Emirates represents major shift in strategy
Christian Science Monitor Jan 16, 08 12:37 PM CST
(Newser)
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President Nicholas Sarkozy returned to France yesterday with accords that will make his country a major player in the Persian Gulf, the Christian Science Monitor reports. France will soon have a permanent military base on the United Arab Emirates' side of the Strait of Hormuz, a key oil pathway; it will also help the UAE build civilian nuclear reactors, netting billions for French businesses.
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Calls on Arab allies to join US to 'confront danger'
Associated Press Jan 13, 08 10:03 AM CST
(Newser)
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President Bush said today that the US and its Arab allies must stop the threat posed by Iran "before it's too late." Speaking in the United Arab Emirates during his 8-day trip to the Mideast to push his peace plan, Bush called Iran the "world's leading state sponsor of terrorism," and accused officials of funding extremists, giving the Taliban arms, and defying the United Nations.
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Power shifts as global economies change
Wall Street Journal Jan 3, 08 6:39 AM CST
(Newser)
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The surging price of oil from $10 a barrel a decade ago to a record $100 today is remaking the global economy and altering the balance of power across the world, according to the Wall Street Journal . If oil prices continue to climb, as many experts predict, US political power will decline as the economic clout of oil producers increases exponentially. The price of oil was holding near $100 today, driven by concerns about US fuel supplies and the dollar, Reuters reports.
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Stake is likely in the range of $500M to $1B
Financial Times (UK) Nov 26, 07 4:53 PM CST
(Newser)
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The fund owned by the ruler of Dubai has bought what it calls "a significant stake" in Sony, Dubai International Capital announced today. DIC hasn't let on to how large the investment is, reports the Financial Times, but said today, "we typically take positions of $500m-$1bn." Any investment larger than 5% would have to be reported to the Japanese government.
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Dollar a 'worthless piece of paper,' Iran's president says
Associated Press Nov 18, 07 9:52 PM CST
(Newser)
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Calling it a "small and worthless piece of paper,” Iran’s president today urged OPEC's members to drop the depreciating US dollar as its official currency. Mahmoud Ahmadinejad blamed President Bush for the dollar’s decline and its adverse effects. The comments highlight mounting tension among OPEC members, the AP reports.
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