Find our most recent stories tagged by their locations. Click here for more story locations.
Posted: 04 Dec 2009 | 7:16 am
Reading the New York Times yesterday I was reminded of the sheer mention of the boom year anthem 'Dubai, Shanghai, Mumbai or Goodbye', how the petro dollar deluge had driven what became the icon of the new world order from a rising star to a falling meteor. It never ceases to amaze me how many financial types never even realized that Dubai didn't have any oil and was built on the foundations of commerce, property and mega growth.
In the eye of the storm remains Dubai World with its Nakeel, Isthimar and Dubai Port's business units, though for many what is now clouding the issue remains internal political struggles, bail outs by its wealthy neighbors and talk of liquidating assets in order to meet its debt servicing obligations. Property and real estate figure large into the equation where in many cases of existing investments have seen valuations shredded and new developments are yet completed in order to produce cash flow and yields. It's a classic Catch 22 and something has to give.
What's unclear for the moment is will a bail out resolve the issue or else could there be a great Dubai World asset sale that could creating a feeding frenzy with the substantial global portfolio of property? With close to US$60 billion in debt, and no real clarity on proper valuation of assets due to fluctuations in value, this looks to be a captivating story that is no going to go away any time soon.
A column featuring environmental issues and conservation around the island. Click here for more Green Reports check out the latest story from the leading experts:
While we hope for the best that Phuket's new airport expansion will have some green focus, it's encouraging to view Singapore's Changi as setting a global standard.
Flying always gives me a chance to look outside the box and today a news article in SikAir's in-flight magazine caught my imagination.
CENTEL 34.50 - 0.50 %
DTC 56.25 - 0.75 %
ERW 4.06 + 0.04 %
GRAND 1.12 + 0.01 %
LRH 28.75 + 0.50 %
MANRIN 25.25 - 0.50 %
MINT 24.40 + 0.40 %
ROH 27.00 0.00 %
SHANG 50.00 + 0.75 %
Library of published hospitality, tourism and property market intelligence.
Get Off The Beaten Track - Soma Journeys
PHUKET GAZETTEMerry in the Maldives
PROPERTY REPORT SOUTH EAST ASIAThe Great Toast Crisis