Word: dubai
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...more specific, buying it. In September another dizzying array of multibillion-dollar deals became public, notably Dubai's bid to acquire a 20% stake in NASDAQ, the high-volume New York City-based stock exchange known for its listing of star tech firms including Apple, Cisco Systems, Dell, Microsoft and Yahoo! Dubai's move demonstrates the fulsome financial power of a region possessing tidal liquidity--as much as $2 trillion, by some estimates--built up by two years of oil prices topping $60 per bbl. "Nothing can stop them," says Hassan Heikal, CEO of EFG-Hermes, the region's leading...
...early signs are that Dubai's NASDAQ deal will not meet the kind of congressional opposition--part security concerns, part xenophobia--that last year forced a Dubai entity, DP World, to sell its control of U.S. port operations. If the deal goes through, the government-controlled Borse Dubai would get 5% of the voting rights and two seats on NASDAQ's 16-member board. Dubai will also get the 28% share that NASDAQ holds in the London Stock Exchange (LSE). In the past year, Dubai companies have also gambled on a $5 billion investment for a 9.5% share...
...executed for killing a political opponent, a charge Benazir and her supporters continue to deny three decades on. This year, as Musharraf's popularity plummeted, a U.S.-approved deal between the President and his former rival cleared the way for Bhutto to return home from exile in Britain and Dubai on the understanding that Musharraf would step down from his army job and then serve another five-year term as President while Bhutto would lead her Pakistan People's Party, the country's biggest, to parliamentary success in early 2008 and serve as Prime Minister. Chief Justice Chaudhry's court...
...bungled police reports about the suspects' AIDS status has helped spread the controversy all the way to Hollywood. Sharon Stone is preparing to host a major fund-raiser in Dubai on December 10 for the Foundation for AIDS Research, or amfAR, for which she heads global fund-raising. The event will be part of the Dubai International Film Festival, and Stone's trip to Dubai has garnered major coverage in Dubai's Gulf News daily. On Friday evening, as TIME met Véronique Robert in a Paris café, amfAR's organizers in Manhattan called her to express concern...
...fair election proposal followed by the balance of power between the presidency and the parliament. But they never came. They kept saying they would come, but they never did. They never showed up. So in fact they just bought time, and then suddenly when I was in Dubai they announced martial law. I caught the first plane back to be with my people who have suffered so much. My people who had sacrificed 158 lives - the final death toll of the Karachi blasts...