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Abu Dhabi plans US$1 trillion investment on infrastructure projects
Source: BI-ME , Author: BI-ME staff
Posted: Tue November 3, 2009 12:05 pm
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UAE. Abu Dhabi plans to invest US$1 trillion on infrastructure projects reported The National, citing officials.

"This will lead to extraordinary demand for building materials and technological innovations, thus boosting the economy further," Sultan bin Saeed al Mansouri, the Minister of Economy told the newspaper.

Cited projects include roads, transport, buildinds, hotels, and a metro all part of Abu Dhabi's development plans to wean its economy off oil.

Khaldoon al Mubarak, the Yas Marina circuit chairman, the venue of the just-concluded Formula One Grand Prix, said the development would act as a blueprint for the city’s future.

“We used Yas as almost the future urban component within the overall city of Abu Dhabi and we wanted to test things out,” he told The National.

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: November 19, 2009
INTERNATIONAL. A majority of investors expects the US Federal Reserve to hold off from raising interest rates until the second half of 2010, according to the BofA Merrill Lynch Survey of Fund Managers for November.
date:Posted: November 19, 2009
INTERNATIONAL. Faber said, considering the size of the stimulus packages and the monetary printing, the US economy hasn't responded well. What have responded well are asset markets but unemployment is horrrible and the typical household is suffering.
date:Posted: November 18, 2009
INTERNATIONAL. The global health industry is worth around US$4.2 trillion. As GCC countries continue to develop world class healthcare systems, they must avoid pitfalls of the developed markets, according to AT Kearney.
UAE. Dubai ruler Sheikh Mohammed Bin Rashid Al-Maktoum tightened the control of the emirate's largest holding company, the Investment Corporation of Dubai.