Word: dhabi
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
...since becoming director in 2001. Armed with a vision of the Louvre as a beacon of culture that is both accessible and global, he has set in motion a dramatic opening to the outside world. So far, that includes signing a deal to create a Louvre museum in Abu Dhabi--a franchising concept pioneered by the Guggenheim--and staging exhibitions of the museum's treasures in such places as Kobe, Japan, and Macau. U.S. museums are particularly benefiting, and not just the usual Louvre partners like New York City's Metropolitan Museum of Art. Loyrette set up an unprecedented three...
...July 22, General Electric announced a string of deals with the Mubadala Development Company, a government-controlled investment fund in the tiny Persian Gulf emirate of Abu Dhabi. Among other things, GE and Mubadala pledged to invest $8 billion in a joint venture to sell financial products in the Middle East and Africa. Ultimately, said Mubadala, it plans to be one of GE's 10 largest investors...
Flush with profits from huge oil and gas reserves, sovereign wealth funds like Mubadala have been on quite a spree of late, particularly in the U.S. Eager to reduce Abu Dhabi's economic dependence on energy, Mubadala has bought stakes in chipmaker Advanced Micro Devices and private equity giant the Carlyle Group; another sovereign wealth fund, the Abu Dhabi Investment Authority, paid $7.5 billion to become Citigroup's largest shareholder; and this month the Abu Dhabi Investment Council offered $800 million for a 90% stake in Manhattan's iconic Chrysler Building, pictured above...
...Dhabi's funds, and those in such places as Kuwait, Saudi Arabia and Qatar, are part of an epochal shift in the economic balance of power toward the energy-rich Gulf. It helps that the downturn in the U.S. economy and the anemic dollar are offering up relative bargains. Shares in GE - the great symbol of American management prowess - have fallen by more than a quarter in the last year...
...also built out the tiny three-man fund-raising department that Rosenberg set up in the late '90s into a full-time operation with 19 staffers. And the Louvre is about to launch a U.S.-style endowment fund - the first in France - using the money from the Abu Dhabi deal to ensure it can finance a bevy of ambitious projects in the future, including one that would revamp the entrance under the pyramid to make it easier for visitors to access the museum and get their bearings...