Word: qatar
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...come as a surprise. The last few years have seen a phenomenal increase in auction prices for contemporary art. Many of the buyers come from Russia, Asia and the Middle East, where a new class of billionaire collectors has emerged. It was none other than the royal family of Qatar that briefly made Hirst the most expensive living artist at auction last year by paying $19.2 million for Lullaby Spring, one of his medicine-cabinet pieces...
...based coal-to-liquid-fuel plant over imports from the Middle East or Africa. In India, coal deposits have been identified, but talks with the government are at an earlier stage than in China. Sasol built a natural-gas-to-liquid plant in partnership with Chevron in Qatar in 2006, and a second such plant in Nigeria, also built with Chevron, is due for completion next year. And the company is in discussion with the government of Australia over the construction of a third gas-to-liquid plant there...
...gold medalists in recruiting foreign-born athletes are Qatar and Bahrain, tiny oil-rich Gulf states that have poached top runners from Kenya, Morocco, and Ethiopia. The effort took off in the 1990s, when Qatar began importing Bulgarian weight lifters, one of whom, Angel Popov, won a bronze medal in the 2000 Olympics under his adopted Arab name, Saif Saeed Asaad. Since then, Qatar and Bahrain have each shelled out millions of dollars to persuade athletes to change their citizenship, tossing in lucrative incentives for setting world records and bringing home Olympic gold...
Their generous cash-for-gold strategy may pay off this week. Moroccan-born star Rashid Ramzi, now running for Qatar, is a favorite to win the men's 1,500-m race, though he'll be challenged by two Kenyans running for Qatar and Bahrain under new Arab names. Two other medal favorites going into the Games' final weekend are Bahrain's Ethiopian-born 1,500-m specialist Maryam Yusuf Jamal and Qatar's Kenyan-born marathoner Mubarak Hassan Shami, who will have to beat out former teammates who know him by his birth name, Richard Yatich...
...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...