Abu Dhabi bucking economic downturn - 24 Sep 08

While the United States staggers through a financial crisis, the contrast couldn't be bigger in Abu Dhabi, in the United Arab Emirates. It's now building the first ever branch of the Louvre on a man-made island, paying $520 million to the French museum for the right to use its name. A New York landmark is also now owned by Abu Dhabi. It spent $800 million buying a 75 per cent stake in the Chrysler Building back in July. And three weeks ago, it forked out around $370 million for a 90 per cent stake in English football club, Manchester City. From Abu Dhabi, Hashem Ahelbarra reports on the economy bucking the global trend.

AlJazeera | September 24, 2008

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