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What On Earth Is A Dubai?

Dubai used to be little more than dunes at the foot of the barren Hajar Mountains and a small fishing village with a few residents eking out a living in the harsh desert. Today it is a thriving metropolis filled with the finest hotels and entertainment, state of the art infrastructures and beautiful beaches framed by a warm ocean.

Perhaps the most fantastic accomplishment of Dubai is the Palm Islands, man-made islands that attract millions of tourists each year to Dubai. What was once a wasteland has become the finest oasis of comfort, education, innovation and entertainment in the civilized world. Tall buildings soar into a azure sky, galleries filled with fine art and priceless treasures are scattered throughout the city like priceless gems and the streets are lined with five star restaurants as well as more humble family eateries.

From nomadic tents to exotic resorts, barren sand to pristine ocean beaches, Dubai has transformed itself like no other city has ever done before. The ingenuity and vision shown by the people of the United Arab Emirates in building this fantastic marvel is nothing short of determined genius.

A Short History Of Dubai sticky icon

Wild Wadi and Jumeirah Beach Hotel
The future of that modern miracle known as Dubai is inexorably tied to its past as the city itself predates formation of the United Arab Emirates by more than 150 years. The first recorded mention of Dubai was in the Book of Geography published in 1095 by the geographer Abu Abdullah al-Bakri. No real city existed but the area referred to as Dubai was well known for its pearling industry as early as the 16th century. Dubai City was founded early in the 19th century by the House of Al-Falasi.

The location of Dubai City made it a natural regional trading center which when combined with the pearling and fishing industry turned this place into a beehive of activity during the first couple decades of the 20th Century. World War 1, increased use of artificial pearls and the Great Worldwide Depression put an end to this prosperity, but all was not lost. With true Arab determination and resourcefulness Dubai managed to establish electrical service, an airport and telephone service in the 1950’s which brought the city into the modern era and attracted immigrants from the world over. It seems history was repeating itself as all those improvements brought a flood of commerce and started the city on the path to becoming a modern metropolis and business center. Dubai City was now set to leave its past behind and forge ahead into the future.

Dubai News Headlines


IPO WATCH: UK Pipeline Grows With Santander, DST, DP World
Wall Street Journal
Dubai-based port operator DP World (DPW.DIF) on Tuesday also said it remains committed to listing some of its shares on the London Stock Exchange next year, ...

and more »

Posted on 30 July 2010 | 4:53 am


Hit by sanctions
BBC News
Back to the days when the city was little more than a trading port of pearls, spices and gold, ...

and more »

Posted on 30 July 2010 | 12:22 am


ArabianBusiness.com

Sukuk Trailing Emerging Debt in July Signals Gains Ahead: Islamic Finance
Bloomberg
Fund managers say they may make up the lost ground as funds flow into developing nations and Dubai World restructures debt. “As sentiment toward emerging ...
Sukuk loses shine for traditional Gulf issuersDaily Star - Lebanon
Kazakhstan Plans Islamic Bond SaleCbonds. Info

all 18 news articles »

Posted on 29 July 2010 | 6:48 pm


Dubai's Mashreqbank Second-Quarter Profit Drops 54% as Impairments Rise
Bloomberg
Mashreqbank PSC, the United Arab Emirates lender owned by the Al Ghurair family, reported a 54 percent ...

and more »

Posted on 29 July 2010 | 7:34 am


ArabianBusiness.com

Dubai's Mashreq Q2 profit down on higher provisions
Reuters
DUBAI July 29 (Reuters) - Dubai-based Mashreq's MASB.DU second-quarter net profit more than halved from the previous year as the lender booked higher ...
Mashreq Q2 profit falls on higher provisionsMaktoob Business
Mashreq Q2 profit tumbles on higher provisionsTrade Arabia

all 4 news articles »

Posted on 29 July 2010 | 7:18 am


ArabianBusiness.com

Ahli United Bank, Dubai Investments, First Gulf, NBAD: Gulf Equity Preview
Bloomberg
Dubai Investments PJSC (DIC UH): The owner of stakes in more than 40 companies reported a 32 percent decline in second- quarter profit to 196.3 million ...
Union National Profit Increases 25%, Below EstimatesBusinessWeek
Sentiment towards UAE stocks improvesFinancial Times
Dubai shares break 1500-point barrieristockAnalyst.com (press release)
Zawya -National -Reuters
all 65 news articles »

Posted on 28 July 2010 | 10:48 pm


Bo Derek of `Bolero,' Ruler of Dubai Feted at Gala for Work Saving Horses
Bloomberg
Source: Twentieth Television via Bloomberg Sheikh Mohammed bin Rashid al-Maktoum, Dubai's ruler. The sheikh's charity work includes saving aging racehorses ...

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Posted on 28 July 2010 | 9:19 pm


Business Intelligence Middle East (press release)

Abu Dhabi Office Rents Fall 27%, May Drop More as Supply Increases by Half
Bloomberg
An abundance of supply in neighboring Dubai will help push down rents, Jones Lang said. Office rents in Dubai dropped as much as 17 percent in the second ...
Hotel investment checking back inNational
Abu Dhabi retail rents stable since Q3 2009ArabianBusiness.com
Rentals, sale prices dip in Capital despite project suspensionsKhaleej Times
TheStreet.com -Wall Street Journal -Reuters
all 85 news articles »

Posted on 28 July 2010 | 8:44 pm


Dubai Investments Profit Drops 32% on Investments
BusinessWeek
July 28 (Bloomberg) -- Dubai Investments PJSC, which owns stakes in more than 40 companies, reported a 32 percent decline in second-quarter ...
Dubai Investments Q2 profit drops 32%American Chronicle
Dubai Investments reports profit of US$129 million for first half of 2010Business Intelligence Middle East (press release)
DI records Dh474m H1 net profitKhaleej Times

all 6 news articles »

Posted on 28 July 2010 | 6:52 am


Posted on 28 July 2010 | 4:04 am