Dubai's stock market fell by 6% on Monday on new worries about the size of the emirate's debt burden. It came as Dubai's finance minister said the government would not sell any assets to help the emirate's investment vehicle, Dubai World, meet its debts. Minister Abdulrahman al-Saleh said any assets sold would have to be the property-to-ports company's own.
Dubai shares have had a torrid time since Dubai World said 10 days ago it wanted to stall payments to creditors. They finished Monday trading at their lowest level since 22 July. Real estate and banking shares were particularly hard hit, with investors still concerned about the financial sector's exposure to Dubai World's debt.
Dubai World has some valuable assets, notably its ports business, which stretches to every continent in the world, including London's Tilbury Docks and France's Le Havre. Other items in its wide-ranging investment portfolio include the luxury retailer Barney's of New York, a list of high-end US hotels, and the Canadian acrobatic circus franchise, Cirque du Soleil. Speaking to Al-Jazeera, Mr. Al-Saleh said like any company that has commitments, part of getting liquidity is selling some assets.
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The bonanza offer has given a fillip to the music lovers who log on to the site and make the buys by a click of the mouse. AR Rahman's genius work - be it films, albums or other projects, can be listened to on the site. Apart from this, you can order a copy. That's so special because Rahman was not up to this one till very recently.
His popularity got multiplied after 'Slumdog Millionaire' and it is only natural that he wants to bank on it. He has fans around the globe and all of them might just not have access to his music, as his fans in India. So, his site caters to not just them, but also simultaneously translates into good money.
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The US defence research agency has used 10 red balloons in a contest to assess the accuracy with which information spreads on the internet. The giant moored weather balloons were launched on Saturday morning at 10 undisclosed locations across the United States. More than 4,000 groups competed to be the first to pinpoint all 10.
A team from the Massachusetts Institute of Technology (Mit) won the challenge and a prize of $40,000 (£24,000). Johanna Jones, a spokeswoman for the US Defense Advanced Research Projects Agency (Darpa), said that beyond the actual contest, the aim was to see whether social networking sites like Facebook and Twitter should be seen as credible sources of information. Darpa is no stranger to innovative uses of technology.
The agency - which is part of the US defence department - played a pivotal role in the creation of the internet itself. Forty years on, with the internet in full swing, the same agency was keen to see if the power of social networking sites - with their tens of millions of users - could be used as a credible source to alert authorities of impending disaster or unrest on US soil.
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