Word: billioned
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...luxury development project after another. By the time the tower opened on Jan. 4 with a lavish fireworks display, though, the showmanship had faded. Weeks earlier, Dubai's biggest state-owned development company had declared it was unable to pay its debts. Officially, Dubai owes its creditors $80 billion, though a recent report by regional investment bank EFG-Hermes estimates that the city may be in the hole for as much as $170 billion. After Sheik Khalifa al-Nahyan, the oil-rich ruler of neighboring Abu Dhabi, stepped in with $10 billion to stave off an embarrassing default, the skyscraper...
...place for investment bankers to celebrate their deals by popping champagne corks. Most global professionals don't want to live in a country where alcohol is illegal and women can't drive. Despite its present problems, they're more likely to stick with Dubai, which launched a $1 billion financial-services center in 2004, and where you can openly practice whatever faith you choose, including nightclubbing...
...piscine predator caused such a commotion. Asian carp--which grow up to four feet long, feast ravenously on other species' food and have a nasty habit of leaping from the water to wallop unsuspecting fishermen--are threatening to take a bite out of the Great Lakes' $7 billion fishing industry. To reassure jittery local governments, the White House held an Asian-carp summit Feb. 8 and pledged $78.5 million to help keep the fish--brought to the U.S. in the '70s to rid catfish farms of algae...
...finishing third despite losing 104 screens from last week. The James Cameron eco-epic dropped only 32%, and some time this week will cross the $700 million North American mark, fully $100 million over the previous all-time domestic champ, Cameron's Titanic. Its worldwide gross has passed $2.4 billion, nearly $600 million more than Titanic, and looks to keep going until some undetermined date when everyone on the planet will have seen it. (See the top 10 movie performances...
...Mexican capital this week, declaring that "the collaboration between Mexico and the United States has never been stronger." The latest accord follows a hike in funding for the so-called Mérida Initiative to beef up Mexican security forces. In total, the U.S. has pledged $1.6 billion worth of equipment and training for its neighbor, including eight Black Hawk and 13 Bell helicopters for Mexico's army and federal police...