Investments Must Comply with Shari'a Law
Hello warning bells are ringing! Note Saudi Arabia 55%
Arab investment UP in the U.S.
The Washington Post reports this morning that Arab investments in the United States are increasing at a rate not seen since before 9/11. As far as I am concerned, this article ought to be a wake-up call for the United States before the sheer volume of Arab investment gets out of proportion.
As you will see below, investments must comply with Shari'a law, which is anathema to many non-Muslim westerners. There is also a real concern that security sensitive investments are being made.
Is the US going to look at investments from countries like ('our friends') Saudi Arabia and Bahrain differently than it looks at investments from Canada and England? Or is this going to be like airport security where 80-year old American grandmothers are searched the same way as 25-year old men from Arab countries?
Spearheading the trend is Dubai's Mohammed bin Rashid al-Maktum (popularly known as "Sheik Mo"), ruler of the freewheeling city-state, which is part of the United Arab Emirates. The ports deal is just one of a series of recent purchases by companies he controls.
Other acquisitions include a $1 billion portfolio of 21,000 apartments in U.S. Sun Belt cities; a 2.2 percent stake in the automotive giant DaimlerChrysler AG that cost another $1 billion; and a Manhattan landmark building, 230 Park Ave.
The emirate also made major purchases in other countries over the past year, notably a $1.5 billion takeover of Britain's Tussauds Group, which owns the famous waxworks, along with theme parks, roller coasters and other entertainment-oriented businesses.
On Thursday came news that yet another Dubai acquisition is drawing Bush administration scrutiny because of the national security risks -- this time of plants in Georgia and Connecticut that make precision components used in engines for military aircraft and tanks.
[I don't know about all of you, but I'm seriously concerned about that sort of manufacturer falling into Arab hands. I would think that the US would - and it likely does - restrict the ability of foreigners to purchase sensitive technologies. Or is this going to be another one of those instances - like the refusal to profile terrorists post-9/11 - in which the US is going to play "see no evil, hear no evil, speak no evil" and treat Saudi Arabia like Canada when it comes to scrutinizing foreign acquisitions of US companies? CiJ].
The Washington Post reports this morning that Arab investments in the United States are increasing at a rate not seen since before 9/11. As far as I am concerned, this article ought to be a wake-up call for the United States before the sheer volume of Arab investment gets out of proportion.
As you will see below, investments must comply with Shari'a law, which is anathema to many non-Muslim westerners. There is also a real concern that security sensitive investments are being made.
Is the US going to look at investments from countries like ('our friends') Saudi Arabia and Bahrain differently than it looks at investments from Canada and England? Or is this going to be like airport security where 80-year old American grandmothers are searched the same way as 25-year old men from Arab countries?
Spearheading the trend is Dubai's Mohammed bin Rashid al-Maktum (popularly known as "Sheik Mo"), ruler of the freewheeling city-state, which is part of the United Arab Emirates. The ports deal is just one of a series of recent purchases by companies he controls.
Other acquisitions include a $1 billion portfolio of 21,000 apartments in U.S. Sun Belt cities; a 2.2 percent stake in the automotive giant DaimlerChrysler AG that cost another $1 billion; and a Manhattan landmark building, 230 Park Ave.
The emirate also made major purchases in other countries over the past year, notably a $1.5 billion takeover of Britain's Tussauds Group, which owns the famous waxworks, along with theme parks, roller coasters and other entertainment-oriented businesses.
On Thursday came news that yet another Dubai acquisition is drawing Bush administration scrutiny because of the national security risks -- this time of plants in Georgia and Connecticut that make precision components used in engines for military aircraft and tanks.
[I don't know about all of you, but I'm seriously concerned about that sort of manufacturer falling into Arab hands. I would think that the US would - and it likely does - restrict the ability of foreigners to purchase sensitive technologies. Or is this going to be another one of those instances - like the refusal to profile terrorists post-9/11 - in which the US is going to play "see no evil, hear no evil, speak no evil" and treat Saudi Arabia like Canada when it comes to scrutinizing foreign acquisitions of US companies? CiJ].
posted by 10 men at 3:10 AM
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