Sunday, June 01, 2008

the tower's golden bolster

Sheikh Mohammed bin Rashid, ruler of Dubai
with his wife HRH Princess Haya of Jordan

Last week I had reported about the "tower of Silah"(read here). Now today there is news that the tower attracted quite some gold: "Funding from the US$10 billion (Dh36.7bn) Mohammed bin Rashid Al Maktoum Foundation will bolster the Qatari royal family’s private US$100 million donation to launch work- opportunity schemes for young jobless Arabs in flagging Middle East economies.Shamil Idriss, from the UN’s Alliance of Civilisations unit, which helped to launch the project, said he was “excited to see the Al Maktoum people and the Qatar Foundation” co-operating for the first time on such a wide-reaching project."

His Highness Sheikh Mohammed bin Rashid al Maktoum - his wife is HRH Princess Haya of Jordan- is the Ruler of Dubai - the second-largest of seven states that make up the United Arab Emirates. Recently he was even voted 'coolest' celebrity.

"Academics, researchers and consultants from The Dubai School of Government, The Brookings Institution, the World Bank, the International Labour Organisation and the American University of Beirut would suggest changes to regulations and lending laws that “make starting a business next to impossible”, said Mr Idriss.Multinational firms such as the sportswear retailer Nike will hold training courses, while banks including HSBC and Standard Bank would take advantage of relaxed lending rules and World Bank support to extend credit to budding entrepreneurs, he added."LINK

stay tuned!


Anonymous said...

According to Wikipedia, the half-sister of the King of Jordan is his "junior"' wife. He is also married to his first cousin.

Some more news about finances and the Arab world in the International Herald Tribune:

I hope the link stays up, but if not here's a quote about the investment banker from Bear Stearns whose been hired by Merrill Lynch:

Noujaim, who will split his time between New York and Dubai, will be responsible for building a bridge between these two worlds.

Should I say Shalom, or Salem,

Anonymous said...





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