The Burj Khalifa has finally opened its doors amid fanfare and fireworks. The building is the tallest man-made structure ever built, at 828 m, some 300 m taller than its nearest rival, Taiwan’s Taipei 101. It cost over US $1.5 billion to construct and has made headlines all over the world.
Read the full story »The latest on the financial crisis gripping Dubai.
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OK, ok, ok … so Dubai is in crisis, but next month’s sees the opening of the Burj Dubai, which will probably mark the end of the golden era of crazy architecture in the UAE principality.
Dec. 3 (Bloomberg) — A Dubai-government owned company will buy cargo and ground handling operations at London’s Heathrow airport, a week after the emirate announced it would seek to restructure the debt of Dubai World.
Dnata, …
LONDON — Europe’s main stock markets recovered further on Thursday, boosted by rallying banking shares as concerns about Dubai’s debt crisis eased, analysts said.
In late morning European deals, London’s benchmark FTSE 100 index was up …
Residents of Al Qusais were in shock over the gruesome rape and murder of a four-year-old Pakistani boy inside the toilet of a mosque where his father prays regularly.
The parents of Mousa – who was …
Dubai World are about to finally open up the luxurious Vdara Hotel on the Las Vegas strip. The fact that you won’t be able to drink alcohol, smoke or gamble within its lavish rooms, which come at an astonishing £1200 a night I might add, sits at odds with Vegas itself. However that’s not the point, what is Dubai doing in Vegas at all?
Qatari stocks tumbled 8.27% yesterday amid worries the country could be exposed to the Dubai debt crisis.
On the first day of trading after the Dubai debt crisis, Qatari shares lost 595 points to close at …
The debt crisis in Dubai is about to test one of the fastest-growing areas in banking, Islamic finance, and put the city-state’s opaque judicial system on trial, according to bankers and experts in finance.
Many loans …
Not only have several Dubai developers taken large deposits and folded or vanished with the money over the last few months but now the Sheikh himself cannot afford to support his property development vehicle, Dubai …
Nov. 30 (Bloomberg) — Dubai’s government said it hasn’t guaranteed the debt of Dubai World, the state-controlled holding company struggling with $59 billion in liabilities, and that creditors must help it restructure.
“It is correct that …
The central bank of the United Arab Emirates (UAE) has said it will provide banks with extra liquidity.
The news comes days after the state-owned Dubai World said it would ask for an extension on repaying …
DUBAI (Reuters) – Dubai will attempt to reassure markets and investors on Monday on how it plans to restructure its beleaguered conglomerate Dubai World after it requested a shock standstill from bondholders for a $3.5 …
