abu dhabi

Can Dubai Revive Its Crazy Mega-Construction Boom?

Before the Great Recession, Dubai built some truly flamboyant real estate projects, including the world's tallest skyscraper and an archipelago of man-made islands. Now, Dubai wants to return to the days of such massive projects, but this time around, financing will be much harder to come by.

Why Frederick's Move Into Abu Dhabi Makes Sense

Frederick's of Hollywood, the racy lingerie store that famously introduced the the first push-up bra and brought the first bikini to the U.S., has opened its first international store in a surprising place: the United Arab Emirates. Here's why the move, weirdly enough, might make sense.

Abu Dhabi Hotel Debuts $11 Million Christmas Tree

An Abu Dhabi hotel unveiled a jewel-encrusted Christmas tree worth more than $11 million today. It is the "most expensive Christmas tree ever," said Hans Olbertz, general manager of Emirates Palace hotel, according to Agence-France Presse.

Abu Dhabi Considering Investing in BP, Crown Prince Says

Sheikh Mohammed bin Zayed Al Nahyan, crown prince of Abu Dhabi, says the emirate is considering investing in BP Plc (BP), Bloomberg News reported "We are still thinking about it," the crown prince told Bloomberg News when asked about buying a stake in the oil giant. "We have been partners with BP for years."

Did BP Set New Target Date for Well Capping?

BP exec told Wall Street Journal that leaking oil well could be capped sooner than expected -- in just over two weeks, but a company spokeswoman backtracks, saying August is still more likely date.

Monument or Tombstone for Dubai?

The emir of Dubai opened the world's tallest building Monday amid talk of his nation's massive debt, its overextended real estate market, rising unemployment and a host of other recession-linked miseries. But despite the many experts ready to write Dubai's financial obituary, the emirate is far from dead yet.

Abu Dhabi Wants Out of Its Deal to Buy Citigroup Stock

When the Abu Dhabi Investment Authority struck a deal with Citigroup in 2007 to buy $7.5 billion in equity shares in exchange for an 11 percent dividend, it agreed to convert those shares into common stock later. Now, with Citi's stock below $4, the $30-plus per share Abu Dhabi agreed to pay is looking like a really bad bargain.