Dubai Sheikh cuts racehorse spending, drastically
Sheikh Mohammed bin Rahid al-Maktoum, the ruler of Dubai, is clearly feeling the pinch of the global economic situation. He's slashed his spending on his favourite indulgence - racehorses - spending "only" 3.21 million guineas ($5.4 million) at Europe's biggest racehorse auction in Newmarket, UK, which ended on Thursday. Sheikh Mohammed spent 8.16 million guineas on horses at the same auction last year. Clearly he's got other things on his mind than augmenting his award-winning stable - Dubai's debt crisis pre-eminent among them. Read more: Bloomberg
Reader notice: Our comments service provider, Civil Comments, has stopped operating and will terminate services on 20th Dec 2017. As a result, we will be searching for another platform for our readers. We aim to have this done with the launch of our new site in early 2018 and apologise for the inconvenience.