Tag Archives : wealth

There are only few billionaires in this world who choose to show off their riches. Naturally if you happen to 212th richest man on the planet and want the world to know then you would probably do what Sir Richard Branson did recently. He invited Oprah Winfrey Show to his Necker Island and showed off his paradise, his weird extravagant toys like underwater [...]

Debt and the institutional accumulation of it are wracking the world. Dubai’s case might just be a harbinger of a series of blowups that is soon to follow. Fact is, there are similar financial trouble spots across the globe right now. The ‘one-time wonderland in the desert’ that is now struggling to pay its bills, is not a lone and isolated case. [...]

‘A significant chunk of Dubai’s debt is in the form of Sharia-compliant bonds.’ What is unique with these ‘increasingly popular instruments’ is that lenders are forbidden to collect interest. It is now unclear how Dubai’s default will affect these Islamic lenders who gave these funds under a ‘partner-like relationship with the borrower.’ [...]

59-year old Dubai ruler Sheikh Mohammed Bin Rashid Al Maktoum has seen his personal fortunes plummet from $12 billion down to $6 billion because of the ongoing global recession, as well as some other reasons. Dubai, an emirate of the United Arab Emirates, ‘was forced to ask for a handout from neighbor Abu Dhabi when credit markets tanked.’ Nonetheless, [...]

A weak and uncertain statement from the UAE has stoked ‘fears of tension between emirates,’ The panic question among businessmen in the region is whether Dubai will default or not. Some investors are quick to defend the emirate. According to Thani al-Falaasi, a businessman in Dubai, “Only a few decades ago, this country was nothing, just a desert. [...]

The government of Dubai heightened investor panic just a bit more when it recently announced that it will not bail out its own chief financial investment arm, Dubai World. The government said that ‘even though struggling Dubai World is state owned, the government won’t guarantee its debts or bail it out.’ According to Abdulrahman Al Saleh, director [...]

The government of Dubai has taken over its flagship company, Dubai World. The surprising move has caused ‘panic throughout the region, and translated into a selloff in bank stocks in Europe and Asia.’ To top that, ‘the government also aims to delay payments on $60 billion in debt, a request that caused the price of insuring debt in emerging economies [...]

Perma-tanned Italian Prime Minister Silvio Berlusconi is right in the eye of the press freedom storm. Media have been grinding him to a pulp lately. He even says that he feels sorry for his country because media report “the opposite of reality.” Hence, Berlusconi has brought more than one local newspaper to court. His lawyers are also considering [...]

The dwindling of Michael Jackson’s millions is as mysterious as the cause of his death. Posthumously for the singer, Thriller has sold nearly a million more copies since his death a month ago. That Michael Jackson can rake in millions of dollars in income, dead or alive, is no mystery. He captured the fancy and adulation of millions of fans the world [...]

In feudalism, political and economic elements merge seamlessly. The upper class controls the government, the production of goods, and the distribution of goods. Power is an offshoot and natural outcome of either being into the power born or through the granting of power contracts. Ordinary citizens work for the benefit of the upper class. The system [...]