Clipmarks | Share This Clip

"The Abu Dhabi boom began when oil prices were still relatively low. And the really high prices, ranging around $140 per barrel, were based on speculation. The government knows prices go up and down and based their development plan on lower prices. Thanks to this strategy Abu Dhabi is very stable," it quoted Abdulla Al Hamed, Chief Executive of Capital Group, as saying.

"Indeed, officials used an estimated price of $45-$50 a barrel in the 2008 budget. This means that, with a current account surplus amounting to 25 per cent of the gross domestic product, Abu Dhabi has ample room for manoeuvre and sufficient liquidity reserves to balance its national budget."

clipped from www.business24-7.ae

The easiest way to blog the interesting things you find on the web.
Supports Blogger, Wordpress, Typepad, Live Journal, Movable Type, and Vox. learn more»

Post this to your blog or embed code
Blog Type:
Blog Username: (Your Email Address)
Blog Password:
Blog Url:
XML-RPC Url:
Copy and Paste the following code into a new blog post... <div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="clipmarks' clip-to-blog"><img src="http://content.clipmarks.com/blog_embed/09664209-08eb-4fca-ad0e-3fe621e7146c/BBACB200-6FC4-4E94-B9FF-7768F8953838/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.business24-7.ae/articles/2008/10/pages/10302008_3d84fc4b46f9471c90ee6dac5a2ca5ab.aspx" href="http://www.business24-7.ae/articles/2008/10/pages/10302008_3d84fc4b46f9471c90ee6dac5a2ca5ab.aspx" style="font-size: 11px;">www.business24-7.ae</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.business24-7.ae/articles/2008/10/pages/10302008_3d84fc4b46f9471c90ee6dac5a2ca5ab.aspx"><TR><TD valign="top" colspan="3"><DIV id="title_article">Abu Dhabi 'will not be affected by oil price slide' </DIV> <DIV> </DIV> </TD></TR><TR><TD width="400" valign="top"><DIV> <TABLE cellspacing="0" cellpadding="0" border="0" width="100%"><TBODY><TR><TD><DIV title=" Oil prices have tumbled by more than 50 per cent since their historic peak of $150 per barrel three months ago. (AFP) " id="article_pic"> <IMG src="http://www.business24-7.ae/Articles/2008/10/PublishingImages/10_30_2008/eb08_opecoil_30_small.jpg" /></DIV></TD></TR></TBODY></TABLE></DIV></TD></TR></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.business24-7.ae/articles/2008/10/pages/10302008_3d84fc4b46f9471c90ee6dac5a2ca5ab.aspx"><DIV>"The Abu Dhabi boom began when oil prices were still relatively low. And the really high prices, ranging around $140 per barrel, were based on speculation. The government knows prices go up and down and based their development plan on lower prices. Thanks to this strategy Abu Dhabi is very stable," it quoted Abdulla Al Hamed, Chief Executive of Capital Group, as saying.</DIV><BR />"Indeed, officials used an estimated price of $45-$50 a barrel in the 2008 budget. This means that, with a current account surplus amounting to 25 per cent of the gross domestic product, Abu Dhabi has ample room for manoeuvre and sufficient liquidity reserves to balance its national budget."</blockquote><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="clipmarks' clip-to-blog"><img src="http://content9.clipmarks.com/images/clip-icon.gif" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.business24-7.ae/Articles/2008/10/Pages/10302008_f55ca3da3ea94003a4c0cfcc14919dbe.aspx" href="http://www.business24-7.ae/Articles/2008/10/Pages/10302008_f55ca3da3ea94003a4c0cfcc14919dbe.aspx" style="font-size: 11px;">www.business24-7.ae</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.business24-7.ae/Articles/2008/10/Pages/10302008_f55ca3da3ea94003a4c0cfcc14919dbe.aspx"><TR><TD valign="top" colspan="3"><DIV id="title_article">Realty projects will not be scaled down </DIV> <DIV> </DIV> </TD></TR><TR><TD width="400" valign="top"><DIV> <TABLE cellspacing="0" cellpadding="0" border="0" width="100%"><TBODY><TR><TD><DIV title=" The demand for housing units is growing in most of the emirates in the UAE. (IMAD ALAEDDIN) " id="article_pic"> <IMG src="http://www.business24-7.ae/Articles/2008/10/PublishingImages/10_30_2008/eb06_construction_30_small.jpg" /> </DIV> <DIV class="PublishingImageCaption_TextClass" id="imgCaption"> <DIV id="ctl00_PlaceHolderLeftBody_smartWeb6_ctl00_ctl01__ControlWrapper_RichHtmlField">The demand for housing units is growing in most of the emirates in the UAE. (IMAD ALAEDDIN)</DIV></DIV></TD></TR></TBODY></TABLE></DIV></TD></TR></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;"> </td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/BBACB200-6FC4-4E94-B9FF-7768F8953838/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>
Login or Sign Up to save your blog settings.