MidEast Property Orgy Ends, Currency Battle BeginsWhat: Dropping oil prices and a global credit crisis is hitting the Middle East too, where some states are considering a common currency.

The Dirt:Cost cutting in a world where five-star hotels are the norm is a scary sign. The folks in the Middle Eastern city of Dubai are cutting costs and bringing the real estate development spending spree to halt, having already asked Abu Dhabi for help. Some of the folks in the Gulf Cooperation Council (GCC) [...]

Recession Diversion: Modern Art

The popular modern art fair, Art Basel, whose annual Miami show starts Dec. 3, is the rival to New York-based The Armory Show, which comes every March. The Miami show will host the glitterati taking a peek at the next possible accessory for their perfect walls or those of their clients. The art dealers will [...]

If You Build It, Will They Come?Dubai’s Latest Splurges What:The pioneer of modernity in the Middle East surges on with development plans, despite rocky financial markets.

The Dirt:While Americans rejoice the end of the presidential campaign and the election of the first non-white president, the financial markets continue to falter, including those in the Middle East. Though the Gulf Cooperation Council (Saudi Arabia, Kuwait, United Arab Emirates, Qatar, Bahrain, and Oman) states are sitting on hefty energy resources, dropping oil prices [...]