What the sites say: the best of the rest

Sovereign wealth funds may lend in short-term

Don't expect Mideast sovereign wealth funds to jump on the government bailout bandwagon, writes IHT.com. That clearly means 'the cash-hungry US and British governments... cannot rely on foreign contributions as they confront the momentous task of saving their troubled financial institutions.' All that can be expected of the cash-rich funds, the author quotes analysts, is that they will 'lend some money to the US government on a short-term basis because they can count on it to be paid back'.

Confronting the credit crunch, Mideast style

Middle East investors remain calm amid the financial storm, Sandy Shipton of the DIFC told financeasia.com.

Investors, mostly family businesses, are "going back to basics" and are learning from the experiences brought about by the crunch. Despite the stock markets suffering heavy setbacks in recent weeks, Shipton said regional investors are focused. "I think we are going into a period of 'wait and see'. People in the Middle East won't be running scared; they are waiting and marking their time."

Tall buildings galore in the Emirates

The skyscraper boom remains high in the Emirates despite unwavering global fuss about the credit crisis, businessweek.com reported on Wednesday. Citing the Council on Tall Buildings &
Urban Habitat, Business Week says there are already 36 structures that have reached the height of 1,000 feet or more. About 69 new "supertall" buildings are currently under construction, six of which will be in Dubai.

Visually impressive or ecologically destructive?

The dailymail.co.uk article about Burj Dubai Lake's planned extravagant tourist attraction – the world's tallest fountain that can propel 22,000 gallons of water 490 feet into the air – received mixed reactions from readers worldwide. While the prospect of a 50-storey-high water jet may be highly impressive to some readers, others view it as a lavish way of wasting precious resources such as water and energy. "More than 6,600 lights - so much for being green and protecting the ozone," one reader commented on the website.

Dubai Sports City to get one over on cricket?

"Dubai Sports City has started making moves to get hosting rights for Cricket Champions Trophy on a permanent basis," claims Pakistan's daily newspaper The News (thenews.com). Those in support of the idea say, like Wimbledon and the US Open, the cricketing event should be held at one place. Pakistan currently holds the right to host the event in 2009, after the event was postponed for a year due to security concerns in the country. If the rumours prove true, Dubai could well become the new hub of cricket.

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