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[Noor]

Khalifa in top 50 most powerful list


The National Staff
August 03. 2009 2:44PM UAE

Newsweek, the influential US news magazine, has named Sheikh Khalifa bin Zayed, President of the UAE, as one of the 50 most powerful men in the world.

�Ruler of the tiny, oil-rich emirate of Abu Dhabi since 2004, Al Nahyan has something else the world is desperate for now: boatloads of cash, which he controls through the Abu Dhabi Investment Authority, the world�s largest sovereign wealth fund, with assets of about $850 billion,� Newsweek said.

It said the Abu Dhabi Investment Authority (ADIA), the world�s largest sovereign wealth fund, has managed to successfully and efficiently keep away the global financial crisis.

The ADAI, it said, already holds large chunks of US firms such as Toll Brothers. With the global downturn fuelling new buying opportunities around the world, the fund is likely to continue looking for Western blue-chip assets, Newsweek said.

�That�s sure to test the tolerance of financial regulators and domestic political opinion, but in the end, the need for cash will probably win out,� the magazine added.

Hosting the Louvre Abu Dhabi, the first universal museum in this region, the Guggenheim museum and world-class universities such as the Sorbonne and New York University, Abu Dhabi is set to be a global cultural crossroad, said Newsweek.

�He keeps in touch with citizens, listen to their grievances,� said Sultan Al Mansouri, the Minister of Economy, quoted in the magazine. �His majlis is always full of all types of people form all over the country,� he said.

The annual survey included a number of other Middle Eastern figures. These included Abdullah bin Abdulaziz Al-Saud, the ruler of Saudi Arabia, Ayatollah Ali Khamenei, the supreme leader of Iran, and Lebanese Hizbollah leader Hassan Nasrallah.

http://www.thenational.ae/apps/pbcs.dll/article?AID=/20090803/BUSINESS/708039964/-1/NEWS

[veiledsentiments]

Try not to laugh out loud at the bolded section.

VS

[TABING]

As Josef Stalin replied when told that the Pope was a powerful man:

"How many divisions does he command?"