First they were going to default on 200 billion worth of credit, then they got a ten billion dollar loan from their neighbour, now their neighbour(?) has their credit rating downgraded. When are these clowns going to get their act sorted?
Pity the fool who thinks they'll make it overnight...
First they were going to default on 200 billion worth of credit, then they got a ten billion dollar loan from their neighbour, now their neighbour(?) has their credit rating downgraded. When are these clowns going to get their act sorted?
First they were going to default on 200 billion worth of credit, then they got a ten billion dollar loan from their neighbour, now their neighbour(?) has their credit rating downgraded. When are these clowns going to get their act sorted?
Ignored
You said it "Clowns" Central banks and country's are run by them
Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
First they were going to default on 200 billion worth of credit, then they got a ten billion dollar loan from their neighbour, now their neighbour(?) has their credit rating downgraded. When are these clowns going to get their act sorted?
Ignored
Abu Dhabi was downgraded because they gave loans, financial support and guarantees for Dubais debts. They were helping out their UAE brothers.
Thats not a reason to call them clowns
Joined Apr 2005
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Status: Dopey Bastard
|1,568 Posts
Abu Dhabi is shrewd in their dealings with Dubai. AD has plenty of oil, they're not in any type of trouble at all, whereas Dubai doesn't have much other than dreams.
My understanding from Emiratis is that AD got some hefty concessions from Dubai when no one in the world would help them and they then stepped in at the very last minute. I wouldn't be surprised to see some name changes, like the Nahyan Tower, Burj Al Nahyan, etc, lol.
I wouldn't be surprised to see some name changes, like the Nahyan Tower, Burj Al Nahyan, etc, lol.
Ignored
It's official...the new name of the world's largest tower is Burj Khalifa bin Zayed (he's the leader of Abu Dhabi and the UAE, and the son of Sheikh Zayed, the father of the UAE. The family name is Nahyan).
See what $10 billion buys you nowadays. I'd love to know what he got from Dubai that we don't know about.
Abu dhabi has a soverign wealth of 700 Billion and the price of oil is going high means more wealth for Abu Dhabi. Just think how much they can do with 700 billion.
It's official...the new name of the world's largest tower is Burj Khalifa bin Zayed (he's the leader of Abu Dhabi and the UAE, and the son of Sheikh Zayed, the father of the UAE. The family name is Nahyan).
See what $10 billion buys you nowadays. I'd love to know what he got from Dubai that we don't know about.
Ignored
There's been constant rumours of Abu Dhabi having a share in Emirates. Not sure what truth that holds but wouldn't be a surprise.
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Joined Aug 2009
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Status: Wannabe Warrior
|949 Posts
i am an expat born and brought up in Dubai.
and i was there to see the launch of Burj Dubai/khalifa and was lucky to get vip seats to the whole thing.
Now the reality is this as me and many see it over here.
1. the Maktoum family (dubai rulers) has a lotttttt of private wealth in excess of the amount they owe to the world.. way in excess. the reason is because the shk sold all the land for cash to Investors( dubai world ) who paid for it by taking loans from international banks.
Im simple language. He sold his own land to his own company by using someone else's money.
Also they have created some solid assets like emirates.
All this money didnt go in the reinvestment in Dubai, instead it went to buying in UK and assets in other places.
2. The UAE is just formed in 1971 and all the local ruling clans have a lot of OLD enemity between them. By re igniting that they are digging their own grave. specially by going public about it.
3. Khalifa, has wayyy too much money compared to the six states and would love to buy them all out.
Basically they need to check their EGO... else i dont know how we are gonna stay in Dubai.
There's been constant rumours of Abu Dhabi having a share in Emirates. Not sure what truth that holds but wouldn't be a surprise.
Ignored
As far as i heard over here. Shk Ahmed who owns Emirates and is not really willing to cooperate with his bro Shk Mohd on the emirates issue (was visibly missing yesterday at the launch ) He is unwilling to give it up.
However, now they are planning to sugar coat the whole thing as a merger between Emirates and Etihad as that would be more viable and cost effective and would reap further route benefits since both are competing strongly for the market share.
Businesswise it makes sense as really having to major airlines for a peasized country is stupid.... but hey thats what has been happening so far!
