Dubai World

Dubai World (Arabic: دبي العالمية‎) is an investment company that manages and supervises a portfolio of businesses and projects for the Government of Dubai across a wide range of industry segments and projects that promote Dubai as a hub for commerce and trading. As a subsidiary of Dubai Inc., it is the emirate's flag bearer in global investments and has a central role in the direction of Dubai's economy. Assets include DP World, which caused considerable controversy when trying to take over six US ports, and Nakheel, its property arm, which built The Palm Islands and The World developments, and Istithmar World, its investment company. It is chaired by Ahmed bin Saeed Al Maktoum.

History

Dubai World was established under a decree ratified on 2 March 2006 by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai. He also holds the majority stake in Dubai World.

On 2 July 2006, it was launched as a holding company with more than 50,000 employees in over 100 cities around the globe. The group now has extensive real estate investments in the United States, the United Kingdom and South Africa. Dubai World made headlines in March 2008 after its chairman, Sultan Ahmed bin Sulayem, threatened to take the fund's money out of Europe. Dubai World's threats came shortly after the European Union attempted to lay out "a set of principles for transparency, predictability and accountability" for sovereign wealth funds.

Dubai

Dubai (/duːˈbaɪ/ doo-BY; Arabic: دبي‎ Dubayy, Gulf pronunciation: [dʊˈbɑj]) is the most populous city in the United Arab Emirates (UAE). It is located on the southeast coast of the Persian Gulf and is one of the seven emirates that make up the country. Abu Dhabi and Dubai are the only two emirates to have veto power over critical matters of national importance in the country's legislature. The city of Dubai is located on the emirate's northern coastline and heads up the Dubai-Sharjah-Ajman metropolitan area. Dubai is to host World Expo 2020.

Dubai has emerged as a global city and business hub of the Middle East. It is also a major transport hub for passengers and cargo. By the 1960s Dubai's economy was based on revenues from trade and, to a smaller extent, oil exploration concessions, but oil was not discovered until 1966. Oil revenue first started to flow in 1969. Dubai's oil revenue helped accelerate the early development of the city, but its reserves are limited and production levels are low: today, less than 5% of the emirate's revenue comes from oil. The emirate's Western-style model of business drives its economy with the main revenues now coming from tourism, aviation, real estate, and financial services. Dubai has recently attracted world attention through many innovative large construction projects and sports events. The city has become iconic for its skyscrapers and high-rise buildings, in particular the world's tallest building, the Burj Khalifa. Dubai has been criticised for human rights violations concerning the city's largely South Asian workforce. Dubai's property market experienced a major deterioration in 2008–09 following the financial crisis of 2007–08, but the emirate's economy has made a return to growth, with a projected 2015 budget surplus.

Dubai (disambiguation)

Dubai is a major city and one of the seven emirates of the United Arab Emirates.

Dubai may also refer to:

See also

Shawn Daivari

Dara Daivari (born April 30, 1984) is an American professional wrestler currently performing on the independent circuit as Shawn Daivari. He is best known for his work with World Wrestling Entertainment (WWE) as simply Daivari and with Total Nonstop Action Wrestling (TNA) as Sheik Abdul Bashir.

Professional wrestling career

Early career

Daivari grew up admiring Mick Foley and Bret Hart. His childhood hero was Shawn Michaels. He participated in his first professional wrestling match at age 15. He started his career in the upper midwest independent scene. He is known for representing Iran for international title matches

On October 19, 1998, Daivari appeared on Nitro as a fan being interviewed by Mike Tenay.

He appeared on the February 26, 2003 episode of Explosion and wrestled a tag team match against Mike Sanders and Glenn Gilberti with Ken Anderson. He also appeared on the October 5, 2003 episode of Sunday Night Heat as Shawn Daivari, losing his match against Tommy Dreamer. He also made four appearances for independent promotion Ring of Honor (ROH) between April and July 2004.