Double Whammy?
Feb 17th 2009, 3:46 am
#1
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Double Whammy?
So what is this all about? They have locked horns how and why? Just curious.
QUOTE=bimcnorth;7291370]
Dubai are being squeezed by a double whammy, not only are the global crisis hitting Dubai but Sheikh Mo bin rashid of Dubai have managed to lock horns with the one guy he can´t afford to antagonise right now. Sh. Mo bin Zayed, crown prince of Abu Dhabi and the guy with the key to the money vaults and the man that can bailout Dubai without breaking a sweat.
[/QUOTE]
QUOTE=bimcnorth;7291370]
Dubai are being squeezed by a double whammy, not only are the global crisis hitting Dubai but Sheikh Mo bin rashid of Dubai have managed to lock horns with the one guy he can´t afford to antagonise right now. Sh. Mo bin Zayed, crown prince of Abu Dhabi and the guy with the key to the money vaults and the man that can bailout Dubai without breaking a sweat.
[/QUOTE]
Feb 17th 2009, 6:30 am
#2
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Re: Double Whammy?
The Wall Street Journal had a large article in yesterday's paper that said it's unlikely Abu Dhabi will bail out Dubai.
Also curious why.
Also curious why.
Feb 17th 2009, 6:43 am
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Feb 17th 2009, 7:12 am
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Re: Double Whammy?
Feb 17th 2009, 8:46 am
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Re: Double Whammy?
if they refuse to help maybe it could lead to the end of the UAE!
Feb 17th 2009, 11:38 am
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Feb 17th 2009, 1:26 pm
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why ayeeeee man!
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Feb 17th 2009, 1:53 pm
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why ayeeeee man!
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Feb 17th 2009, 7:15 pm
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Re: Double Whammy?
So what is this all about? They have locked horns how and why? Just curious.
Dubai are being squeezed by a double whammy, not only are the global crisis hitting Dubai but Sheikh Mo bin rashid of Dubai have managed to lock horns with the one guy he can´t afford to antagonise right now. Sh. Mo bin Zayed, crown prince of Abu Dhabi and the guy with the key to the money vaults and the man that can bailout Dubai without breaking a sweat.
Well, the "bailout" of Dubai got started last year as we all know but since then it have been on hold.
It´s really is about Abu Dhabi being adamant that Dubai will 'toe the line' when it comes to stuff like military issues and foreign policy instead of flirting with the IQS block (Iran, Qatar, Syria) to such an extent that Abu Dhabi cracked down on Dubai-Iran financial links just months ago.
Oh, and the fact that stubborn ol' Mo refuse to pass on (so far at least) stakes in Dubai companies or even put them up as collateral despite Abu Dhabi being willing to accept market supportive legislation (residence visas for examples) despite not being happy about it means that the Abu Dhabi executive council are perfectly happy with boosting Abu Dhabi companies and financial institutions while Dubai is out in the cold.
The situation have created some tension within the Maktoum family they say, the younger Maktoums that are seeing their fortunes decline on a daily basis are not happy with Mo and are more eager to make a deal with the Al-Nahyans.
Interesting times ahead no doubt...
