Dubai opens world's tallest building amid financial crisis
Developers are not revealing the exact height of the Burj Dubai until its official debut. But they say the $1.5 billion tower will reach 200 stories into the sky.
It will stretch 300 meters higher than Taiwan's Taipei 101, which currently holds the world record at 508 meters.
Dubai leaders hope the tapered metal and glass skyscraper will help restore investors' confidence in the emirate.
The state-owned conglomerate Dubai World sent stock markets tumbling in November after it announced it could not repay $60 billion in loans. Neighboring emirate Abu Dhabi came to Dubai's rescue in December with a $10 billion aid package to help Dubai World repay some of its debt.
VOA News
Tags :
Financial Crisis, Abu Dhabi, Dubai World, Developers, Burj Dubai, 200 Stories Building, World's Tallest Building, Taiwan's Taipei 101, Stock Markets, World Tallest Building In Dubai
Images
- Paradigm Lost: The Euro in Crisis
- Asia markets tumble
- Abu Dhabi hotel boasts gold vending machine
- Saving the Euro, $960 billion safety net
- Worries about Greek economy send stocks reeling
- Barack Obama: Wall Street reforms still urgently needed
- Obama: Financial reform will 'prevent bailouts'
- Dubai opens world's tallest building amid financial crisis
- Fears of Dubai default eased, but global financial problems remain
- Dubai Debt, Dollar Slide Fuel Market Slump in Asia
- Asia, US helps Mercedes Benz sales hit record high in 2006
- Cricova: The Largest Underground Wine Cellar in the World
- What does Remortgage mean?
- Dutch bear profit rises 26 percent
- Foreign direct investment in India doubles during 2006
- Greece: Socialist government's budget deficit of 12.5% caused debt crisis
- Toyota in talks to build new China plant
- Walt Disney profit up 39 percent
- DaimlerChrysler is not planning to manufacture trucks in India