Monday, October 6, 2008

Emirates flexes its financial muscle

A Manchester City fan wears an Arab headdress to a recent game to hail an Abu Dhabi investment group’s purchase of the English soccer team. Abu Dhabi investment groups have interests in places such as China, the Balkans and Central America.

"Abu Dhabi has a more sophisticated vision than just making more money," said Edward Borgerding, an ex-Disney executive who is chief executive of the Abu Dhabi Media Co., which recently signed a deal to spend $1 billion over five years to finance Hollywood projects. "It wants to invest in businesses that in 10 or 20 years will flourish and continue to sustain the economy of the UAE."

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