One of the emirate’s largest investment companies, state-owned Dubai World, has asked for a delay on repaying its US$60 billion debt until at least May. The company’s real estate arm, Nakheel – whose projects include the palm-shaped islands in the Gulf – shoulders the bulk of money due to banks, investment houses and outside development contractors.
This has added to fears among investors that have existed for some time since the recession hit, over the financial health of Dubai. But it gets even worse.
IBRD and IDA: Two Institutions That Comprise the World Bank
The IBRD is an international organization whose original mission was to finance the reconstruction of nations devastated by World War II. Now, its mission has expanded to fight poverty by means of financing states. IDA is responsible for providing long-term, interest-free loans to the worlds 80 poorest countries, 39 of which are in Africa.
Total IBRD-IDA Lending by Sector
During the 2008 fiscal year, 6 percent went to agriculture, fishing and forestry,
8 percent went to education and 17 percent went to energy and mining.
Another 6 percent went to finance, 7 percent went to health and other social services, 6 percent went to industry and trade and 1 percent went to information and communication. Another 21 percent went to law and justice and public administration, 9 percent went to transportation and 10 percent went to water, sanitation and flood protection.
Of the approximately 100 major exchanges located throughout the world, 16 of the world’s largest stock exchanges are depicted on the above image. The map also shows the market value and share turnover of each exchange. Share turnover is defined as a measure of stock liquidity. The market value is represented by buildings, with each large building equivalent to approximately $2 trillion.
As the picture shows, the United States has two of the top three exchanges based on market value. The New York Stock Exchange is the largest exchange by far with a market value of $9.57 trillion and share turnover of $7.99 trillion. The NYSE combined with the NASDAQ exchange, which has a market value of $2.77 trillion and a chart topping share turnover of $12.26 trillion, enables the U.S. to account for 38% of the total market value of the exchanges represented on this graphic.
The net worth of the richest people in the world is the worth of the total assets that each person owns. The net worth includes the assets minus the liabilities. In general, it is the worth of all the persons assets, whether or not they are liquid. The 50 richest people in the world are:
William Gates III (Bill Gates), United States, net worth $40 billion from software. One of the founders of Microsoft, Bill Gates has been the richest person in the world for most of the years from 1995 to 2009.
Warren Buffett, United States, net worth $37 billion from investments. Investor and Berkshire Hathaway CEO, Warren Buffet has pledged much of his wealth to philanthropic pursuits.
Carlos Slim Helu & Family, Mexico, net worth $35 billion from telecommunications. Helu is one of the major influences over Mexican telecommunications. In 2007, he was briefly considered the richest person in the world.
Lawrence Ellison United States Net worth $22.5B from software. Oracle CEO Ellison began in very humble circumstances and built up Oracle form a small business in 1977 to an enormous computer corporation.
Ingvar Kamprad & Family Sweden Net worth $22B from furniture retail. The founder of IKEA, Kamprad started selling matches as a child and built up his retail business into the multinational corporation that IKEA is today.
Karl Albrecht, Germany, net worth $21.5B from supermarket retail
Mukesh Ambani, India, net worth $19.5B from petrochemicals
Lakshmi Mittal, India, net worth $19.3B from steel
Theo Albrecht, Germany, net worth $18.8B from supermarket retail ………….