Timothy Geithner, the US treasury secretary, is in Abu Dhabi today meeting with top government officials ahead of the Group of 20 developing and industrialised nations meetings later this week in South Korea.
Mr Geithner, a key architect of the US's bailouts of financial institutions and other responses to the global financial crisis, is set to discuss "broad developments in the global economy and regional issues of mutual concern", according to a Treasury statement.
The UAE and other Gulf oil producers are watching closely for signs of how global economic trends - including the US's emphasis on more stimulus to reinvigorate its economy - might affect the region. The US recently started a new round of so-called quantitative easing, a process in which its central bank is effectively pumping $600 billion of new currency into the domestic economy. Economists say that should work to the benefit of Gulf countries as investors and businesses put the new money into higher-growth markets in Asia, South America and the Middle East.
Mr Geithner is meeting today with Sheikh Mohammed bin Zayed, the Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. Abdullah bin Zayed al Nahyan, the UAE's foreign minister, Sultan al Suwaidi, the central bank governor, and Obaid al Tayer, the minister of state for financial affairs, are also to take part.
The meetings are happening during a three-hour stopover on a whirlwind tour of Asia ahead of the Group of 20 meetings in Seoul. Mr Geithner came to Abu Dhabi from India, where the US president Barack Obama announced a wide range of new investments and trade deals on Saturday.
afitch@thenational.ae
BLACKBERRY
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Champion%20v%20Champion%20(PFL%20v%20Bellator)
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
How to turn your property into a holiday home
- Ensure decoration and styling – and portal photography – quality is high to achieve maximum rates.
- Research equivalent Airbnb homes in your location to ensure competitiveness.
- Post on all relevant platforms to reach the widest audience; whether you let personally or via an agency know your potential guest profile – aiming for the wrong demographic may leave your property empty.
- Factor in costs when working out if holiday letting is beneficial. The annual DCTM fee runs from Dh370 for a one-bedroom flat to Dh1,200. Tourism tax is Dh10-15 per bedroom, per night.
- Check your management company has a physical office, a valid DTCM licence and is licencing your property and paying tourism taxes. For transparency, regularly view your booking calendar.
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The specs
Engine: 3-litre twin-turbo V6
Power: 400hp
Torque: 475Nm
Transmission: 9-speed automatic
Price: From Dh215,900
On sale: Now
RESULTS
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