Word: sheiking
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...body of Sheik Ahmed bin Zayed al-Nahayan, managing director of one of the world's largest sovereign wealth funds, was retrieved on Tuesday, fished out from a picturesque lake some 20 miles southeast of the Moroccan capital, Rabat, that his glider had crashed into five days before. The 41-year-old was the half-brother of Sheik Khalifa bin Zayed al-Nahayan, President of the United Arab Emirates and ruler of Abu Dhabi, the most influential - and with some 8% of the world's proven oil reserves - the wealthiest of the seven states that comprise the U.A.E...
...sudden passing of Sheik Ahmed, who was ranked No. 27 on Forbes' list of Most Powerful People last year, is likely to precipitate a power struggle among several of his 17 surviving brothers as they maneuver to replace him. (The late Sheik Zayed bin Sultan al-Nahayan, former U.A.E. president and the country's founding father, had 19 sons from several different wives. Another of his sons, Sheik Nasser, was killed in a helicopter crash in June...
...Sheik Ahmed was a senior member of the ruling al-Nahayan clan, and since 1997 was charged with overseeing the day-to-day runnings of the Abu Dhabi Investment Authority (ADIA). The fund has stakes in companies including Citigroup, the Hyatt Hotels and Britain's Gatwick airport. Engorged with Abu Dhabi's substantial oil surpluses, ADIA's assets are estimated at between $300 billion and $800 billion. It was Abu Dhabi's wealth that helped bail out sister city-state Dubai when it ran short of funds to complete the world's tallest building - which was then renamed the Burj...
Power and influence among the male heirs of the al-Nahayan clan is divided among several groups within the family; the President, Sheik Khalifa, who does not have any full brothers, and Crown Prince Sheik Mohammed, who along with his five full brothers from a common mother, Sheika Fatima bint Mubarak, form the most powerful bloc within the clan. The sons of Sheika Fatima (the late Sheik Zayed's third wife) control the defense, intelligence, national security and foreign affairs portfolios, as well as the chairmanship of Abu Dhabi's second largest sovereign wealth fund (the International Petroleum Investments...
...power to Kurdistan. And last month, Saudi Arabia's King Abdullah invited leaders of a pro-Sunni coalition to visit Riyadh, a sign that the kingdom would like to play a role as protector of Iraq's Sunnis. "Everyone in the region will try to occupy Iraq," says Sheik Hussam al-Mojammai, the head of Baqubah's Awakening Council, a Sunni citizens' brigade that helped defeat insurgent groups in the province. "Even little Djibouti...