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Solvent Sheikh's Last Visit
London Business School hosted Sheikh Mohammed 24 hours before Dubai debt crisis broke
Solvent Sheikh
Ruler of Dubai Sheikh Mohammad made an official visit to London Business School last week, less than 24 hours before government-owned conglomerate Dubai World announced a six-month standstill on its debt obligations.
Sheikh Mohammed has strong links to LBS. His charitable foundation endowed a chair for innovation at the School last year and in 2007 he opened LBS’s Dubai campus. His tour of LBS last week took in the Dubai lecture theatre suite and ended with the announcement of another chair in his name, the Sheikh Mohammed bin Rashid Al Maktoum Chair for Creativity.
As well as a photo-op with LBS’s Dean Andrew Likierman, the Sheikh and his delegation sat in on a class, to the excitement of LBS students.
LBS student "Prashok" posted about the visit on forum GMATclub.com: "I had classes in the lecture theatre next to the official reception, so I only caught a glimpse beyond the heavy security entourage and London police presence. I did check out the sweet motorcade of cars sitting in the school's car park though :-)".
The Sheikh's entourage included his 26-year-old son, Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, who himself studied business at the American University in Dubai and is Deputy Ruler of Dubai
The next day Dubai World announced a six-month standstill on repayments of its $59 billion debt, sending contagion effects through Middle Eastern and world financial markets. Sheikh Mohammed hit out at the media uproar, arguing that the firm behind property developments like Palm Jumeirah and the World Islands is “independent” of the government of Dubai.
Standard and Poors downgraded several Dubai banks that lend to Dubai World today.
You can see a video of Sheikh Mohammed’s visit to LBS complete with classical backing track here
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By Maria Ahmed03/12/2009 Tags:
News & Features
LBS
UAE
Dubai
London Business School
Sheikh Mohammed
Sheikh Maktoum
Dubai World
default
AUD
Andrew Likierman
American University Dubai
Now all LBS needs is a 10-storey aquarium
Tian Ng
Thanks anonymous. We've corrected the story
bbadmin
the Ruler of Dubai is himself the PM of the UAE.
His son, Sheikh Maktoum bin Mohammed bin Rashid, is the Deputy Ruler of Dubai. He does not hold any federal (i.e. UAE) post.
http://www.uaeinteract.com/docs/Sheikh_Maktoum_bin_Mohammed_bin_Rashid_Al_Maktoum_named_Dubai_Deputy_Ruler/28433.htm
Anonymous
lol
Anonymous