Dubai ruler's ambition sowed seeds of crisis

Courtesy MSNBC.com: Business  Fri, 12/04/2009 - 01:48

An Emarati man tries to control a balloon with the image of Dubai's ruler Sheik Mohammed bin Rashid Al Maktoum during the UAE national day parade in Dubai, on Tuesday.<br /><br />Talking to the media Tuesday, Sheik Mohammed said, Dubai's economy is "strong" and "solid" and the world does not understand what is happening in Dubai.Mixing extravagance with boundless ambition, Dubai's ruler commanded the desert city-state's meteoric rise — and helped sow the seeds, some observers say, of its debt crisis.



 

Related items

Horse industry closely watches Dubai debt crisis
Buyers and sellers of high-end racehorses were closely watching a debt crisis in Dubai, but there was no sign Dubai's ruler would scale back his financial influence in the horse industry.

Oil Rises From Three-Day Low as Greece Passes...
Oil advanced from a three-day low after Greece's parliament approved austerity measures to secure an international bailout, easing concern that Europe's debt crisis will worsen and curb...

Japan's economy shrinks 2.3 percent in 4Q
Japan's economy shrank 2.3 percent in the fourth quarter as manufacturers were battered by the strong yen, weak export demand amid the European debt crisis and flooding in Thailand.

Panasonic BB-GT1540B Globarange Expandable Cordless...
The GLOBARANGE 2-line hybrid calling system, winner of Electronic House magazine's 2007 Product of the Year award, is the last phone you'll ever have to buy. Make calls as you want:...

Panasonic Dect 6.0 Expandable Silver Digital Cordless...
DECT 6.0 TECHNOLOGY EXPANDABLE UP TO 6 HANDSETS ALL DIGITAL ANSWERING SYSTEM WHITE BACKLIT LCD ON HANDSET CALL WAITING CALLER ID WITH TALKING CALLER ID UP TO 4-WAY CONFERENCE CAPABILITY NIGHT...


 

Post new comment

The content of this field is kept private and will not be shown publicly.
CAPTCHA
We apologize for the inconvenience. Please help fight spam.
business.marc8.com