Plans to Turn Moscow into a Dubai of the East Shattered by Low Oil Prices

Moscow's architectural revolution hit by the global financial crisis
Sunday Herald - Glasgow, Scotland, UK
MOSCOW'S TRANSFORMATION into a showy Dubai of the east has been put on ice as plans for some of the world's brashest examples of modern architecture have stuttered because of the world's financial crisis. ...

Alarming: Dubai Crude Oil Falls to 30-US Dollar-level for the First Time

Dubai Oil Price Falls to a 46-month Low
KBS - Seoul, South Korea
The price of Dubai crude oil has fallen to the 30-US dollar-level for the first time in nearly four years. In Singapore, the spot price of Dubai oil traded on Friday closed at 38-dollars, 91-cents per barrel, down more than two dollars from the previous day. ...

Report on Dubai Real Estate and Effect of Low Oil Prices

Oil Price Casualty: The Downturn Hits Dubai
Free Internet Press - New York, NY, USA
With plummeting oil prices causing the Persian Gulf economy to shrivel, Dubai's push to become a global financial hub is in jeopardy.

 

For a year or so, the movers and shakers of the small but oil-rich United Arab Emirates have watched the unfolding of the credit crisis in the West with a mixture of dismay and denial. It won't happen here, was their view. And for a long time it didn't. Now it is. The price of oil, the lifeblood of the Persian Gulf economy, has fallen more than 60 percent since its mid-July peak.

Oliver J. Key General Manager of The Address - Dubai Marina

Emaar Hospitality Group appoints Oliver J. Key as General Manager of The Address, Dubai Marina
Zawya - United Arab Emirates
Dubai, UAE; December 6, 2008: The Address Hotels + Resorts, Emaar Hospitality GroupEmaar Hospitality Group's recently launched five star hotel brand, has appointed Mr Oliver J. Key as General Manager of The Address, Dubai Marina, the upcoming 5 star premium hotel under The Address Hotels + Resorts brand in Dubai Marina. ..

China and Dubai to Invest in Philippines

Big China, Dubai firms eye investments in RP mining sector
ABS CBN News - Philippines
Two construction giants in China and Dubai are investing in the Philippines, which may prop up the country's mining investments beyond the government's 2010 target of $10 billion to $13 billion. ....

Leighton and Partners Awarded $1.3 Billion Contract

Leighton and Partners Win $1.3 Billion Dubai Airport Contract
Bloomberg - USA
ByLeighton Holdings Ltd., Australia's largest construction company, said it won a 4.9 billion dirham ($1.3 billion) contract with its partners to build a new concourse at Dubai Airport. ...

Dubai an Astonishing Ascent from Tiny Fishing and Pearling Village to Global Hub

Dubai, the Glittering Emirate, Revisited
New York Times - United States
DUBAI is one of those magical places that seem too good to be true. Along with the far larger and richer Abu Dhabi, it is one of seven city-states in the loose United Arab Emirates federation, which gained independence in 1971 from the overextended British empire. ...

Dubai is too Important for its Leaders to let it Fall

Too Big to Fail
Newsweek - USA

The recent gala opening of the Atlantis hotel on Dubai's Palm island gave one a strong sense the emirate's elite were fiddling while Rome burned. The sheets had hardly been stripped from the beds of the departing guests when the hotel's developer, the government-owned Nakheel Properties, announced that it was cutting 15 percent of its workforce. ...