Abu Dhabi bails out Dubai…again 25, November 2009
Posted by thegulfblog.com in The Emirates.Tags: Abu Dhabi, Bail out, Credit crunch, Dubai, Dubai bill board change, Dubai credit crunch, Emirates airlines
add a comment
Two Abu Dhabi banks have lent some $5 billion to Dubai which is by all accounts still struggling massively since its credit-crunch collapse. For this ‘investment’ Abu Dhabi have demands both large and small. For example, Abu Dhabi sought and gained a huge stake in Dubai’s flagship airline Emirates and also changed a bill-board in a prominent place in Dubai from a picture of Dubai’s ruler to a pointedly different message proclaiming ‘Long live our Emirates Union’ with a picture of UAE President Shiekh Khalifah bin Zayed Al Nayhan, just to rub it in.
The Gulf blog 