Word: worthely
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Inevitably, though, the laws of economics have reasserted themselves. Since oil prices plummeted, and world stock markets crashed last fall, some $75 billion worth of real estate projects have been suspended and canceled in Dubai, according to a report by the local branch of HSBC bank. Business journal the Middle East Economic Digest puts the figure at more than $300 billion. Postponed developments include the World, a luxury man-made island community designed to resemble a world map, and Dubailand, a theme park planned to be twice the size of Florida's Disney World. Housing prices have fallen...
...months when AIG posted a loss of more than $61 billion for the last quarter of 2008. The company was well on its way to taking in $180 billion in government money. In return, taxpayers got 80% of AIG and a few promissory notes that are not worth the paper that they are written on. (See pictures of the global financial crisis...
...deal brokered by the Federal Deposit Insurance Corp., which closes banks that are insolvent or nearly so, BankUnited is being taking over by a group of private-equity investors, including famed vulture investor Wilbur Ross. The group isn't paying much for the bank - because BankUnited isn't worth much. The FDIC figures cleaning up the mess at BankUnited will cost its insurance fund nearly $5 billion, which makes this the most expensive bank failure this year...
...They’ve sent no comments directly to me.” But protestor Alethia Williams ’11 said that even if UHS does not change its policy, the protest would not be in vain. “It’s definitely worth the fight, if nothing else,” she said. —Staff writer Naveen N. Srivatsa can be reached at srivatsa@fas.harvard.edu...
...Born in Alexandria, Egypt in 1959 to Talaat Moustafa, a construction and real-estate magnate. By 2007, Moustafa, who had become chairman of his father's business, had an estimated net worth of $800 million...