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11 Oct 12
16:57
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Date Joined:
05 Jan 10
By Harriet Dennys http://www.telegraph.co.uk
Time to rein in the spending, your highness?
City Diary: Dubai's debt-laden Sheikh Mohammed al Maktoum goes on an equine spending spree,
The Tattersalls yearling sales enjoyed a record start on Tuesday, with turnover up 27pc on last year’s opening session to a sporting 23m guineas.
The biggest contributor to the haul was Dubai’s racehorse-loving ruler Sheikh Mohammed al Maktoum, who spent 3.7m guineas on 14 horses, including the top lot Raven’s Pass, which changed hands for 800,000 guineas after Irish tycoon John Magnier pushed up the price.
All great news for the horse-racing industry.
But, not to rain on the sovereign’s parade, the spending spree comes hard on the hoof of Commerzbank, RBS and Standard Bank last month launching legal proceedings against Dubai Group, the Sheikh’s investment firm, after failing to find a “consensual solution” for restructuring its $10bn (£6.2bn) debt.
Time for Clifford Chance, which is representing Dubai Group, to have a quiet word about reining in the Royal spending
Time to rein in the spending, your highness?
City Diary: Dubai's debt-laden Sheikh Mohammed al Maktoum goes on an equine spending spree,
The Tattersalls yearling sales enjoyed a record start on Tuesday, with turnover up 27pc on last year’s opening session to a sporting 23m guineas.
The biggest contributor to the haul was Dubai’s racehorse-loving ruler Sheikh Mohammed al Maktoum, who spent 3.7m guineas on 14 horses, including the top lot Raven’s Pass, which changed hands for 800,000 guineas after Irish tycoon John Magnier pushed up the price.
All great news for the horse-racing industry.
But, not to rain on the sovereign’s parade, the spending spree comes hard on the hoof of Commerzbank, RBS and Standard Bank last month launching legal proceedings against Dubai Group, the Sheikh’s investment firm, after failing to find a “consensual solution” for restructuring its $10bn (£6.2bn) debt.
Time for Clifford Chance, which is representing Dubai Group, to have a quiet word about reining in the Royal spending
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The Sheikh is basically a dictator. He does what he wants.
Our politicians weren't much more different with their expense claims and secret pay-offs,
to a smaller scale of course but ...
to a smaller scale of course but ...
Arab Dictator, basically just a reboot of the modern crusader
No wonder Frankie is off to Tipperary . ..At least it's not a long long way to go to get paid wages.
Has f-all to worry about, the UK banks were so desperate to pump their money into Dubai they have made massive errors everywhere with guarantees etc and the Maktoums know it, the UK taxpayer that had to prop up these banks doesnt.
If the idiot who appears to be calling me a modern crusader would like to elaborate I will be prepared to enlighten him. If that is possible.
I not sure I see the point of Dubai
shows what can be done with no taste and unlimited money
shows what can be done with no taste and unlimited money
They never had that much oil compared to their neighbours and there isn't much left. The Maktoums have ruled the place since 1833 and Sheikh Mo has been the effective ruler for decades although his elder bother Maktoum was the titular head until he died a few years ago. Sheikh Mo had a sort of westernised palace dream which was undone by the 2008 crash. As has been pointed out despite Dubai as a state having a debt,which proportionately would make Osborne shoot himself ( hopefully ) the Sheikh continues his expensive hobbies.
The news doesn't get any better for them 
Not only are the Irish getting one over on them with the horses now they have struck oil 
Providence predicts Irish oil boom as field reserves upgraded
Boss of Irish explorer says that 280m barrels of recoverable oil off the Cork coast marks a 'big moment' for the economy
Not only are the Irish getting one over on them with the horses now they have struck oil Providence predicts Irish oil boom as field reserves upgraded
Boss of Irish explorer says that 280m barrels of recoverable oil off the Cork coast marks a 'big moment' for the economy
there is no point to dubai, its a vast white elephant. its also in easy shelling distance from tehran.
Oman, Bahrain, Saudi, Dubai, britain has propped these medieval systems of government with a little help from some friends for the best part of a century. Its served us well we buy the oil then get most of the cash back by flogging them 3rd generation weapons to keep the bolshi's down....
then there is the complete mess the US and M16 made of Iran, which started when they had the democratically elected prime minister Mohammad Mosaddegh ousted by sponsoring a coup:
An author, administrator, lawyer, prominent parliamentarian, he became the prime minister of Iran in 1951. His administration introduced a wide range of progressive social and political reforms such as social security, rent control, and land reforms.[4] His government's most notable policy, however, was the nationalization of the Iranian oil industry, which had been under British control since 1913 through the Anglo-Persian Oil Company (APOC/AIOC) (later British Petroleum or BP).[5]
Mosaddegh was removed from power in a coup on 19 August 1953, organised and carried out by the United States CIA at the request of the British MI6 which chose Iranian General Fazlollah Zahedi to succeed Mosaddegh.[6]
While the coup is commonly referred to as Operation Ajax[7] after its CIA cryptonym, in Iran it is referred to as the 28 Mordad 1332 coup, after its date on the Iranian calendar.[8] Mosaddegh was imprisoned for three years, then put under house arrest until his death.
Oman, Bahrain, Saudi, Dubai, britain has propped these medieval systems of government with a little help from some friends for the best part of a century. Its served us well we buy the oil then get most of the cash back by flogging them 3rd generation weapons to keep the bolshi's down....
then there is the complete mess the US and M16 made of Iran, which started when they had the democratically elected prime minister Mohammad Mosaddegh ousted by sponsoring a coup:
An author, administrator, lawyer, prominent parliamentarian, he became the prime minister of Iran in 1951. His administration introduced a wide range of progressive social and political reforms such as social security, rent control, and land reforms.[4] His government's most notable policy, however, was the nationalization of the Iranian oil industry, which had been under British control since 1913 through the Anglo-Persian Oil Company (APOC/AIOC) (later British Petroleum or BP).[5]
Mosaddegh was removed from power in a coup on 19 August 1953, organised and carried out by the United States CIA at the request of the British MI6 which chose Iranian General Fazlollah Zahedi to succeed Mosaddegh.[6]
While the coup is commonly referred to as Operation Ajax[7] after its CIA cryptonym, in Iran it is referred to as the 28 Mordad 1332 coup, after its date on the Iranian calendar.[8] Mosaddegh was imprisoned for three years, then put under house arrest until his death.
they replaced this socially aware modernist with...can anyone guess......u at the back with the scales and the bulging eyes, thats right an eton educated despot, who makes Shake Mo look like Andrew Carnegie himself and after about 27 years of being run by BP and this complete incompetent teh people finally had enough and booted the Shah out and installed a fundamentalist regime and the rest as they say will come back to bite us again and again and i havnt even started on the real coonts down that way and the legions of human rights abuses they perpetrate daily...
timeless
Date Joined: 01 Apr 08
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11 Oct 12 17:19 Joined: 01 Apr 08 | Topic/replies: 6,481 | Blogger: timeless's blog
Our politicians weren't much more different with their expense claims and secret pay-offs,
to a smaller scale of course but ...
the scale of difference between you and a someone with half a clue perhaps but thats like a map of the world that the fecking higgs boson particle could be carrying in its rucksack compared to the real thing
timeless
Date Joined: 01 Apr 08
Add contact | Send message
11 Oct 12 17:19 Joined: 01 Apr 08 | Topic/replies: 6,481 | Blogger: timeless's blog
Our politicians weren't much more different with their expense claims and secret pay-offs,
to a smaller scale of course but ...
the scale of difference between you and a someone with half a clue perhaps but thats like a map of the world that the fecking higgs boson particle could be carrying in its rucksack compared to the real thing
You refer to these middle east places as medieval systems and yet historically before the romans spearheaded the move towards iron weapons which was the first major arms race, these middle eastern provinces had some of the greatest and most beautiful cities in the world but they were all nearly all robbed and burned to the ground at around 1850 bc by the plague that was the sea peoples, the early roman pirates who using the latest iron weaponry and stratigraphic islands strongholds,
commanded the first assaults upon the Arab nations and Europeans have always persecuted these once great peoples.
The feared Sea peoples who were proto roman hoards would have horns on there helmets and Mohican's haircuts to look as barbaric and savage as possible, once the early roman nations acquired enough wealth it would not be long before they would pay for bigger and more organized armies that still carried a Mohican's style crest on there battle helmets and would set out to plunder greater untapped resources and then have the nerve to call there victims barbarians and cut any resistant down brutally that stood in the way of centralized greed and control.
One wonders what great cites would now exist in the middle east had the early to present day Europeans have not made life so difficult for them but with great oasis's of wealth and beauty as is Saudi we get a glimpse of what could of been...
In life Facts are always stranger than fiction but either lost or never discovered through the mists of time!
commanded the first assaults upon the Arab nations and Europeans have always persecuted these once great peoples.
The feared Sea peoples who were proto roman hoards would have horns on there helmets and Mohican's haircuts to look as barbaric and savage as possible, once the early roman nations acquired enough wealth it would not be long before they would pay for bigger and more organized armies that still carried a Mohican's style crest on there battle helmets and would set out to plunder greater untapped resources and then have the nerve to call there victims barbarians and cut any resistant down brutally that stood in the way of centralized greed and control.
One wonders what great cites would now exist in the middle east had the early to present day Europeans have not made life so difficult for them but with great oasis's of wealth and beauty as is Saudi we get a glimpse of what could of been...
In life Facts are always stranger than fiction but either lost or never discovered through the mists of time!
As pointed out above Dubai never had much oil and now have none , they have been kept afloat by Abu Dhabi for a number of years , they are basically on borrowed time , it is no coincidence that most of SM's wealth is his property portfolio in Newmarket and the USA , it is only a matter of time before Dubai is consumed by the desert from which it rose .
Saudi has always been a Freeport and has now a huge tourist economy so I would take all the factors into account before declaring their imminent demise ...
bf fanatic.
Your ancient history may be a bit ropey but it's probably not far off.
What you seem to forget is the Arabs conqured almost all Spain,bits of Southern France and a good half of Italy much later than the Romans.
Your ancient history may be a bit ropey but it's probably not far off.
What you seem to forget is the Arabs conqured almost all Spain,bits of Southern France and a good half of Italy much later than the Romans.
and history
where on earth did you find that info about Roman Pirates?????????
some internet references please
where on earth did you find that info about Roman Pirates?????????
some internet references please
Salmon - Saudi Arabia is not Dubai imo so bf_f isn't even in the right country for this discussion
True Aviboyd.
But tbf I think ( can't be bothered to look it up ) the Maktoums were originally very petty chieftains in what is now Saudia Arabia.
But tbf I think ( can't be bothered to look it up ) the Maktoums were originally very petty chieftains in what is now Saudia Arabia.
its complete rubbish..
I dont know what he is smoking?
I dont know what he is smoking?
I am basically on about the constant obsession of the average euro member with the middle east, 4 thousand years of treating them poorly is long enough and we should be encouraging better relationships with other countries and communities instead of fighting illegitimate wars that just fill body bags.
Does the west view itself as imperial like the Romans once, for if it does it should be careful because Rome had to burn many times to pay for its sins and history has a habit of repeating lessons never learned...
Does the west view itself as imperial like the Romans once, for if it does it should be careful because Rome had to burn many times to pay for its sins and history has a habit of repeating lessons never learned...
bf-fanatic is obviously unaware of suicide bombers that are prepared to wantonly murder their own,including women and children.Besides which I thought there was a separate politics forum.
You are correct bf_fanatic in so far as modern middle eastern states have been created by
european countries, in particular the UK
Slim is also correct in stating that the west have in the past supported corrupt and dictatorial middle eastern
regimes in order to prevent the countries becoming communist
I still believe the Israel/Palestine is the cause of all the problems
there is a need to return to 1947 boundaries and a concensus of peace
to be accepted by both Jews and Arabs
Unbiased is correct in that terrorism is appalling
But so is the invasion of countries by the west
on made up causes imo
Unbiased is also correct that this is not the political forum
although I am one the worst offenders
just my imo
european countries, in particular the UK
Slim is also correct in stating that the west have in the past supported corrupt and dictatorial middle eastern
regimes in order to prevent the countries becoming communist
I still believe the Israel/Palestine is the cause of all the problems
there is a need to return to 1947 boundaries and a concensus of peace
to be accepted by both Jews and Arabs
Unbiased is correct in that terrorism is appalling
But so is the invasion of countries by the west
on made up causes imo
Unbiased is also correct that this is not the political forum
although I am one the worst offenders
just my imo
It was actually a racing thread to start with and I am sure unbiased has been known to post on political threads on here.
To turn it back to racing. Just hypothetically what effect would the disappearance of the Maktoums have on racing in Europe and the UK in particular iyo ?
To turn it back to racing. Just hypothetically what effect would the disappearance of the Maktoums have on racing in Europe and the UK in particular iyo ?
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