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A faulty elevator was behind the shutdown of the observation deck on the world's tallest tower that effectively closed the half-mile-high Burj Khalifa to the public, witnesses and a Dubai rescue official said Tuesday.
The Burj Khalifa's owner says the observation deck of the world's tallest tower has been unexpectedly shut down little more than a month after it opened.
Dubai's government, under pressure to repay billions of dollars in debt, said Thursday it has discovered a new offshore oil field - the first such find by the city-state in decades.
The victory in Massachusetts for Republican Scott Brown over Democrat Martha Coakley is seen by political strategists as a repudiation of the current health care legislation and the policies of the Obama administration.
Israel has taken the upper hand in the battle to have the world largest vat of hummus.
Even before Dubai's financial crisis, the sheikdom's growing economic woes had begun rippling out across the Arab world, forcing foreign workers back to their home countries.
The world's tallest building is being opened in Dubai Monday, and as the globe watches the official unveiling of the skyscraper that will dwarf Canada's CN Tower, Taiwan's Taipei 101 and Malaysia's Petronas twin towers, many investors will think of the Skyscraper Index.
Many investors are familiar with the emerging markets story, especially with the MSCI Emerging Index's 70% or so gain so far this year.
A unit of Dubai Properties Group, owned by the ruler of Dubai's holding firm, said on Thursday it was committed to completing its Tiger Woods golf course project.
By providing a $10 billion lifeline to Dubai on Monday, oil-rich Abu Dhabi has granted its debt-stricken neighbor a critical short-term reprieve from its creditors. But in doing so, it also appears determined to tighten the reins that Dubai has long resisted. The New York Times reports.
Stocks closed at a 14-month high Monday as news of an energy deal and a lifeline for Dubai helped buoy the market — and investors' appetite for risk.
Stocks were higher in afternoon trading Monday as news of an energy deal and a lifeline for Dubai helped buoy the market.
Stocks opened slightly positive Monday as investors grew less jittery about the situation in Dubai and a big merger deal helped juice the energy sector.
Stock index futures pointed to a positive open for Wall Street on Monday as investors cheered news that Abu Dhabi would provide $10 billion of surprise aid to neighbor Dubai.
Abu Dhabi has essentially gained control of the cash flow of Dubai with its $10 billion bailout, Guy Monson, managing partner and chief investment officer at Sarasin & Partners said Monday.
Stocks rebounded Wednesday, as a weaker U.S. dollar gave a boost to commodities, sending materials stocks higher.
Stocks opened flat to slightly lower Wednesday as concerns mounted over the global economy and the US dollar continued to assert itself as a popular safety play.
Stock index futures indicated a more even-keeled market Wednesday, though debt concerns regarding Dubai and elsewhere remain prominent in the minds of investors.
The white knights that came to the rescue of banks during the financial crisis are going home, with their pockets full of bounty from their good deeds, reports the New York Times.
Stocks face a potential "melt down" because of the concerns raised by Dubai World's debt problems, but stocks could also "melt up" if the issue is resolved, Marshall Gittler, international chief strategist at Deutsche Bank Private Wealth Management, told CNBC.