Thursday, December 17, 2009

Happy New Year 1431 Hijra

The Dubai World's chronicle on the indebtedness of its subsidiary developer Nakheel was finally settled with Abu Dhabi's injection of USD10 billion to Dubai. This was expected by many. I personally have anticipated that there is no way Abu Dhabi will just let Dubai be torn apart by the creditors. Dubai is not a separate country. It is an emirate in the UAE. Between the 7 emirates in the union, Abu Dhabi is the richest and considered the big brother. Abu Dhabi gives budget annually to the other emirates. It has written and unwrtitten obligation to take care of its sibling emirates. That is the ties that bind them all together in the union. To let Dubai down would be an embarassment to Abu Dhabi and the union. But what interesting was the way Abu Dhabi and Dubai managed the announcement and all. Critics say that the waiting period had given enough time to tarnish Dubai's image in the market, and highlight the superiority of Abu Dhabi. Other people say the down time gave Dubai opportunity to buy back its shares in a stock market at a very cheap price. My friend in the Dubai Ruler's Court told me that Sheikh Mohamed prefered to downsize Dubai World rather than accepting a rescue fund from Abu Dhabi. But has Dubai got enough to survive without any rescue in a first place?

Again I dont think the rescue fund comes for free. There will be some consideration to be negotiated between Abu Dhabi and Dubai, business wise. We will see.

At the same time I am glad that Dubai managed to move on with the Nakheel's problem before the New Hijra Year. I hope Dubai will recover very fast and remain as one of the top cities in the world. The last thing I want to see is Dubai becomes a deserted city like the one depicted in the latest released for the Grand Theft Auto game.

I had a blast fun time with my parents and family for the past 2 weeks. It felt great to have spent 2 weeks with my parents at my age. The last time I stayed home with my parents for more than a week was about 15 years ago. Both my son and I really enjoyed our moment in the morning whenever we wake up, check out the living room and see my parents were already sitting on a couch and greet us together.

Let us pray "peace be upon Prophet Muhammad" and may the new Hijra Year 1431 brings more happiness, peace and prosperity to the world, as same as it did when the Prophet made the first Hijra.

To put the world right in order, we must first put the nation in order; to put the nation in order, we must first put the family in order; to put the family in order, we must first cultivate our personal life; we must first set our hearts right



cohong gym said...

Along, kau tolong tanyakan Abu Dhabi kalau-kalau diaorang nak tambah satu lagi little brother. aku tengah sesak ni. tak payah la mintak 10b. dapat 100m pun cantek

yuzliyusof said...

along.. baru aku paham asal usul abu dhabi dan dubai.. so.. yg 4 brothers yg lain tak buat apa2 ke.. or budget diorang dpat kecik...


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