Monday, 6 April 2009

Dubai's rulers say success of the emirate is no mirage

The United Arab Emirates turned out in force for the Dubai World Cup last weekend. Western expats and Sudanese construction workers were among the thousands who joined Dubai's ruler Mohammed bin Rashid Al Maktoum to watch Well Armed romp home 14 lengths clear to collect more than $6m (£4m) in prize money.

Sheikh Mohammed was not going to let a global financial crisis distract from his annual festival of flat racing. A passionate enthusiast he (and his entourage) spent almost the entire night in the parade ring inspecting some of the world's finest thoroughbreds. The Dubai prime minister only returned to his seat for the firework display that preceded the main race.

But for many others at the Nad Al Sheba racecourse, the horse racing – however spectacular – was of secondary concern. The World Cup was a chance to swap notes on the financial maelstrom that has engulfed Dubai over the last year.

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