| 04.12.2009 - As Dubai crisis unfolds, quick answers unlikely |
| From Nytimes.com: Even though Dubai did not have any consistent revenue to seed a sovereign fund, Dubai World began its own version of a government investment entity in Istithmar. Unlike cash-rich funds in the region, Istithmar used debt and a fair amount of swagger to transform an initial $2 billion cash stake from Dubai World into a $15 billion entity that in its outlook and approach was more a private equity fund than a sovereign fund.................................Full Article: Source |