United Arab Emirates

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Dubai Sheik Pays $2.7M for Camel

May have been a record; then Abu Dhabi sheik shelled out $7M for pair

(Newser) - 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...

US Parts End Up in Insurgents' Bombs in Iraq

US technology exports to UAE getting diverted to Iraq via Iran

(Newser) - 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...

Spending Spree Puts Abu Dhabi Under Spotlight

After US grabs, officials focus on secretive sovereign wealth fund

(Newser) - 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...

Arabs Building First Green City
Arabs Building First Green City
Feb 10, 2008 5:14 PM CST

Arabs Building First Green City

Run on solar power, Masdar City will cost $22 billion and take 8 years to construct

(Newser) - 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,...

Mideast Web Woes Persist as 3rd Cable Is Cut

Repairs could take days or even weeks

(Newser) - 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...

France Dives Into Gulf With Base
France Dives Into Gulf With Base
Jan 16, 2008 12:37 PM CST

France Dives Into Gulf With Base

Military base in Emirates represents major shift in strategy

(Newser) - 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...

Stop Iranian Threat Now: Bush
Stop Iranian Threat Now: Bush
Jan 13, 2008 10:03 AM CST

Stop Iranian Threat Now: Bush

Calls on Arab allies to join US to 'confront danger'

(Newser) - 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...

Sky-High Oil Will Reshape World Power, Dent US Clout

Power shifts as global economies change

(Newser) - 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...

Dubai Ruler's Fund Invests in Sony
Dubai Ruler's Fund Invests
in Sony
Nov 26, 2007 4:53 PM CST

Dubai Ruler's Fund Invests in Sony

Stake is likely in the range of $500M to $1B

(Newser) - 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...

Greenback Assaulted at OPEC meeting
Greenback Assaulted at
OPEC meeting
Nov 18, 2007 9:52 PM CST

Greenback Assaulted at OPEC meeting

Dollar a 'worthless piece of paper,' Iran's president says

(Newser) - 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,...

Bhutto: Government Blocking Bomb Probe

Calls again for international experts to aid inquiry

(Newser) - Former Pakistani PM Benazir Bhutto accused government officials of blocking the investigation into the attack on her last week that killed 140 supporters, reports the Washington Post. Bhutto demanded that international experts be brought into the probe because "there are very powerful figures behind the assassination attempt on me,...

Dubai Tower is World's Tallest
Dubai Tower is World's Tallest
Jul 21, 2007 3:59 PM CDT

Dubai Tower is World's Tallest

$1B skyscraper at 1,680 feet; final height will be over 2,200 with 160 floors and 56 elevators

(Newser) - An unfinished skyscraper in Dubai is now scraping the sky at 1,680 feet, surpassing Tawain's Taipei 101 as the world's tallest building. The Burj Dubai, which began construction in September 2004, will cost $1B and consist of more than 160 floors and 56 elevators when completed in 2008.

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...

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