Word: dhabi
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...their more illustrious and wealthier neighbors, and the acquisition of the prodigious talents of Berbatov would make United even harder to beat. Instead, City fans had plenty of reason to cheer even as United shelled out $56 million for the Bulgarian: Manchester City was bought by an Abu Dhabi holding company, which pumped so much cash into the franchise that City was able to make an audacious last-minute bid for Berbatov - and then topped that by spending a British record of $59 million to sign Brazilian striker Robinho, from Spain's Real Madrid. Snatching Robinho from under the nose...
...dramatic reversal in the (literal) fortunes of Manchester City came when Abu Dhabi United Group (ADUG) - a holding company backed by the tiny Gulf emirate's royal family - reached a $380 million deal to buy the team from former Thai Prime Minister Thaksin Shinawatra. Exiled in London, Shinawatra - the subject of an arrest warrant in his home country after failing to appear in court last month on corruption charges - had paid just $148 million when he bought the club just over a year...
...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...
...insists, "In a house like this, you need to open the windows. We hadn't aired for a long time." He is an art historian by training who previously ran the Musée d'Orsay. Some of what he's doing is experimental, he acknowledges. He calls the Abu Dhabi project, which is set to open in 2013 and for which the Louvre will receive $900 million for the use of its name and for temporary loans of up to 300 works, a "leap into the unknown." As for contemporary artists, he points out that they've long...
...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...