Word: nahyan
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...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's owners changed the building's name to Burj Khalifa. For a city used to grand statements, it was a remarkable comedown. (See pictures of the world's tallest...
...Mohammed will certainly look again to Abu Dhabi, whose vast oil deposits make it by far the richest U.A.E. entity. It stepped up with $10 billion in support immediately after the global crash in 2008 and can be expected to do so once more; Abu Dhabi's ruling al-Nahyan family, as cautious as the al-Maktoums are daring, knows that it, too, will be dragged back by the demise of Dubai. A glance at the $600 billion-plus balance sheet of Abu Dhabi's sovereign wealth fund puts Dubai's debt crisis in a softer light...
...Europe's next four biggest leagues - are again in the mood to shop. The benevolence of billionaires helps. London club Chelsea, bankrolled by Russian oligarch Roman Abramovich, reportedly bid $74 million on June 9 for Atletico Madrid striker Sergio Aguero. Manchester City, owned by Sheik Mansour bin Zayed al-Nahyan, a member of Abu Dhabi's royal family, is also keen to strengthen its squad. (See pictures of soccer's European championships...
...Dhabi A Royal Detained A brother of Abu Dhabi's ruler is being held after footage purportedly showing him torturing an Afghan merchant was leaked to ABC News. Sheik Issa bin Zayed al-Nahyan, a real estate developer, is the first member of the emirate's ruling family to face a criminal investigation. The videotape prompted outrage among U.S. legislators and threatens to scuttle a civilian nuclear deal with the United Arab Emirates...
Remote Sir Bani Yas was once the private domain of Sheik Zayed bin Sultan al-Nahyan, ruler of Abu Dhabi and co-founder of the United Arab Emirates. He irrigated much of its barren landscape and created his very own wildlife reserve, initially for endangered regional species like the Arabian oryx and both mountain and sand gazelles, but later for many African animals, including giraffes, ostriches, elands, gemsboks, blackbucks and striped hyenas, all of which remain to this day. (See pictures of luxury private islands...