business and economy
Lindsay Lohan follows David Beckham to Dubai
Like Brad Pitt and Angelina Jolie, David and Victoria Beckham bought a luxury home in Dubai to escape the intrusions of the media. Little did they expect that Lindsay Lohan and Samantha Ronson would follow them, no doubt bringing the paparazzi with them. Like many other stars Li-Lo has been looking at houses on the [...]
Dubai aiming to spend its way out of recession
True to form, Dubai is planning to spend its way out of the continuing economic crisis caused by the global recession, according to the FT. Dubai’s service based economy has been hit particularly hard by the prevailing economic situation and ratings agencies are concerned that Dubai may face problems refinancing its debts in the current [...]
Dubai government moves to stabilise economy
In response to growing fears about its economy, the notoriously secretive Government of Dubai has broken with tradition by disclosing details of its finances, merging and nationalising banks and financial groups and putting the brakes on its property market which many fear is on the brink of collapse. The following figures were stated: Dubai’s borrowings: [...]