Heard on Rush a little while ago that Dubai is threatning us w/ economic sanctions if port deal does't go through. Haven't heard it any where else but if this is true fuck-em!

Quoted: Heard on Rush a little while ago that Dubai is threatning us w/ economic sanctions if port deal does't go through. Haven't heard it any where else but if this is true fuck-em!

I'm around 99% sure Rush was joking...

If you make a deal and then back out there should be reprecussions, no?

They sanction Isreal and their cargo -something we usually have problem with when it comes to doing business abroad .No one seems to have a problem with that .

Fuck em.


Also Saudi Arabia does too - no one seems to care there either.

bwahahahahaha


omfg... i want us to stop importing oil/financing these assholes sooooooo badly.

I know this ain’t popular but that is exactly what we are doing to them…

Quoted: Quoted: Heard on Rush a little while ago that Dubai is threatning us w/ economic sanctions if port deal does't go through. Haven't heard it any where else but if this is true fuck-em! I'm around 99% sure Rush was joking...

Nope

Senator: UAE firm to transfer port operations to U.S. 'entity'
Sources: House, Senate leaders tell Bush deal appears dead

Thursday, March 9, 2006; Posted: 2:09 p.m. EST (19:09 GMT)

WASHINGTON (CNN) -- A United Arab Emirates-owned company has agreed to turn over all of its operations at U.S. ports to an American "entity," Sen. John Warner said Thursday.

Reading a statement from DP World on the Senate floor, Warner, a Virginia Republican, said the reason is "to preserve" the strong relationship between the UAE and United States.

The announcement comes after congressional leaders reportedly told President Bush that the deal for DP World to assume some operations at six U.S. ports appeared dead on Capitol Hill.

House Speaker Dennis Hastert, R-Illinois, and Senate Majority Leader Bill Frist, R-Tennessee, delivered the news to Bush during a meeting Thursday at the White House, two Republican sources said.

The leaders told the president they would pass measures to block the deal by veto-proof majorities, sources told CNN. Bush had threatened to veto any legislation that stopped the deal.

The UAE firm DP World's purchase of P&O, the British company that manages cargo and passenger terminals at ports on the Atlantic and Gulf coasts, has stirred up intense opposition in Washington.

House Republicans are openly defying the president, apparently to prevent Democrats from outflanking them on national security and outsourcing issues as elections approach.(Questions about the deal answered)

The issue marks an unusual rift between Bush and House Republicans, who say they have received overwhelmingly negative comments from constituents. (Your e-mails: Should Bush change his mind?)

On Wednesday, the House Appropriations Committee essentially blocked the deal by voting 62-2 to insert an amendment into a $68 billion emergency supplemental funding bill for military actions in Iraq and Afghanistan.

The bill also includes about $19 billion in disaster assistance for the Gulf Coast for Hurricanes Katrina and Rita.

The measure could come before the full House next week when it is expected to pass by a similar large margin. The committee's approval was bipartisan, with Reps. Jim Moran, D-Virginia, and Jim Kolbe, R-Arizona, casting the only votes against it.

Rep. Jerry Lewis, R-California, chairman of the House Appropriations Committee, worked with other GOP leaders to amend the spending bill. (Watch top Republicans rock the boat on the ports deal -- 1:36)

Tensions between Bush, whose approval rating is near an all-time low, and Congress have been growing for some time, and the president's vow to veto the legislation angered many of his congressional allies.

"In politics ... sometimes the passions and the emotions can overwhelm any factual discussion," said John King, CNN's chief national correspondent. (King: Passions, emotions cloud ports debate)

You guys need to keep checking the Drudge Report

It's all over there.

DP World has handed over control of the ports to the US in order to maintain positive relations between UAE and the US.
End of story.

Quoted: DP World has handed over control of the ports to the US in order to maintain positive relations between UAE and the US. End of story.

But Bush told us the sky would fall if the US didn't back the port deal and immediately let it go through.  He said it would ruin our relations with the UAE if we tried to block it.  Now we find out the UAE was more than willing to work with us to keep everyone happy.  I swear Bush has lost it and has no clue what he is doing any more.

Quoted: bwahahahahaha omfg... i want us to stop importing oil/financing these assholes sooooooo badly.

Dubai, the home of DP World, derives only 7% of its' GDP from oil. The US derives about 2% of GDP from oil.

Quoted: Quoted: DP World has handed over control of the ports to the US in order to maintain positive relations between UAE and the US. End of story. But Bush told us the sky would fall if the US didn't back the port deal and immediately let it go through.  He said it would ruin our relations with the UAE if we tried to block it.  Now we find out the UAE was more than willing to work with us to keep everyone happy.  I swear Bush has lost it and has no clue what he is doing any more.

Nope, sounds like he knew exactly what he was doing. The SAME people will now be running those 21 terminals, its just as a separate non-UAE owned company now. The US Navy gets to keep their navy base in Dubai, the US forces in Dubai get to stay, and the wind is taken out of the sails of the idiots in Congress.   Looks like Bush gets a Win-Win-Win, and the Dems and idiot Republican congressmen are handed a loss.

Quoted: Quoted: DP World has handed over control of the ports to the US in order to maintain positive relations between UAE and the US. End of story. But Bush told us the sky would fall if the US didn't back the port deal and immediately let it go through.  He said it would ruin our relations with the UAE if we tried to block it.  Now we find out the UAE was more than willing to work with us to keep everyone happy.  I swear Bush has lost it and has no clue what he is doing any more.

What do you think Bush's people at the State Department have been doing?

Fuck 'em.

ETA - Is Bush on drugs? Why the hell is he fighting the American people and the congress (including Republicans in congress) so hard on this issue? What does he care about the UAE controlling our ports that he's willing to risk the support of his own party to see it go through? Someone ought to check his temperature.

Quoted: Quoted: bwahahahahaha omfg... i want us to stop importing oil/financing these assholes sooooooo badly. Dubai, the home of DP World, derives only 7% of its' GDP from oil. The US derives about 2% of GDP from oil.

They make money from oil we buy from their neighbors as well, and probably from the shipping of said oil.

oil money = money for terorists. quite simple really

Quoted: Quoted: Quoted: bwahahahahaha omfg... i want us to stop importing oil/financing these assholes sooooooo badly. Dubai, the home of DP World, derives only 7% of its' GDP from oil. The US derives about 2% of GDP from oil. They make money from oil we buy from their neighbors as well, and probably from the shipping of said oil. oil money = money for terorists. quite simple really

I'd love to live in a world where things were so simple. Unfortunately, we do not.

Quoted: Quoted: Quoted: Quoted: bwahahahahaha omfg... i want us to stop importing oil/financing these assholes sooooooo badly. Dubai, the home of DP World, derives only 7% of its' GDP from oil. The US derives about 2% of GDP from oil. They make money from oil we buy from their neighbors as well, and probably from the shipping of said oil. oil money = money for terorists. quite simple really I'd love to live in a world where things were so simple. Unfortunately, we do not.

soooo then you're saying that oil money has NEVER and will NEVER fund the very people that want to wipe us from the planet???

Quoted: Quoted: Quoted: DP World has handed over control of the ports to the US in order to maintain positive relations between UAE and the US. End of story. But Bush told us the sky would fall if the US didn't back the port deal and immediately let it go through.  He said it would ruin our relations with the UAE if we tried to block it.  Now we find out the UAE was more than willing to work with us to keep everyone happy.  I swear Bush has lost it and has no clue what he is doing any more. Nope, sounds like he knew exactly what he was doing. The SAME people will now be running those 21 terminals, its just as a separate non-UAE owned company now. The US Navy gets to keep their navy base in Dubai, the US forces in Dubai get to stay, and the wind is taken out of the sails of the idiots in Congress.   Looks like Bush gets a Win-Win-Win, and the Dems and idiot Republican congressmen are handed a loss.

How is having a US company running the ports a loss?  The US company is now subject to US rules, laws, employment practices, taxes, reviews...ect.  If the company does anything suspicious the government can on their case in a heart beat.  Do you think the US government would be so quick to jump on the UAE and question their practices?  Hell no, look at how they have been kissing their ass for last 2 weeks.  With the Patriot Act and it being a US company now the US could do major investigations and not even tell them.  Try doing that with a foreign company.  Putting a US company in control of it changes everything.

Quoted: Quoted: Quoted: Quoted: Quoted: bwahahahahaha omfg... i want us to stop importing oil/financing these assholes sooooooo badly. Dubai, the home of DP World, derives only 7% of its' GDP from oil. The US derives about 2% of GDP from oil. They make money from oil we buy from their neighbors as well, and probably from the shipping of said oil. oil money = money for terorists. quite simple really I'd love to live in a world where things were so simple. Unfortunately, we do not. soooo then you're saying that oil money has NEVER and will NEVER fund the very people that want to wipe us from the planet???

Nope, I'm just saying it is not an all or nothing thing. Believe it or not there are plenty of people in the ME who don't subscribe to terrorist ideology. In fact, a clear majority do not.

Quoted: Fuck 'em. ETA - Is Bush on drugs? Why the hell is he fighting the American people and the congress (including Republicans in congress) so hard on this issue? What does he care about the UAE controlling our ports that he's willing to risk the support of his own party to see it go through? Someone ought to check his temperature.

Ah Ha!
I stooped myself before I hit reply with my first answer that would have surely had me banned for what I was about to say to you.

We can't do the deal now, we'd lose face.  We cannot allow some pissant third world country to threaten us into submission.  Dubya should tell Dubai to go F itself.

Yeah, we should NEVER allow Boeing to sell the UAE any more of its commercial aircraft!

Remember how the Arabs enjoy flying them into American buildings!

Y'all are nuts!

What I hear is that the UAE company has announced that it would surrender its position to a United States Company.

But do you think that would make any difference?

To the DemoCraps?  To you?

Eric The(EffinNuts)Hun

Quoted: Fuck 'em. ETA - Is Bush on drugs? Why the hell is he fighting the American people and the congress (including Republicans in congress) so hard on this issue? What does he care about the UAE controlling our ports that he's willing to risk the support of his own party to see it go through? Someone ought to check his temperature.

Fox News just reported that various polls from multiple sources show the huge lead, 10% to 15%, the Republican's had over the Democrats when it came to national security has now disappeared.  They said the polls are now showing the worst case of Democrats leading to the best case of Republicans having only a 5% lead.  Good job Bush, you have managed to destroy the one last remaining positive approval rating the Republican's had.

Quoted: Fuck 'em. ETA - Is Bush on drugs? Why the hell is he fighting the American people and the congress (including Republicans in congress) so hard on this issue? What does he care about the UAE controlling our ports that he's willing to risk the support of his own party to see it go through? Someone ought to check his temperature.

Probably because it was the biggest fucking non-issue to hit the news since Cheney's shooting?

Quoted: Fuck 'em. ETA - Is Bush on drugs? Why the hell is he fighting the American people and the congress (including Republicans in congress) so hard on this issue? What does he care about the UAE controlling our ports that he's willing to risk the support of his own party to see it go through? Someone ought to check his temperature.

It's all about money.

Quoted: Quoted: Quoted: Quoted: DP World has handed over control of the ports to the US in order to maintain positive relations between UAE and the US. End of story. But Bush told us the sky would fall if the US didn't back the port deal and immediately let it go through.  He said it would ruin our relations with the UAE if we tried to block it.  Now we find out the UAE was more than willing to work with us to keep everyone happy.  I swear Bush has lost it and has no clue what he is doing any more. Nope, sounds like he knew exactly what he was doing. The SAME people will now be running those 21 terminals, its just as a separate non-UAE owned company now. The US Navy gets to keep their navy base in Dubai, the US forces in Dubai get to stay, and the wind is taken out of the sails of the idiots in Congress.   Looks like Bush gets a Win-Win-Win, and the Dems and idiot Republican congressmen are handed a loss. How is having a US company running the ports a loss?  The US company is now subject to US rules, laws, employment practices, taxes, reviews...ect.  If the company does anything suspicious the government can on their case in a heart beat.  Do you think the US government would be so quick to jump on the UAE and question their practices?  Hell no, look at how they have been kissing their ass for last 2 weeks.  With the Patriot Act and it being a US company now the US could do major investigations and not even tell them.  Try doing that with a foreign company.  Putting a US company in control of it changes everything.

Actually, not much would have changed that much. They would have been subject to US rules, laws, employment practices etc, since they would have been a DPW subsidiary, doing business in the US.

Now the US has little influence over DPW (the multinational).

Quoted: Quoted: Fuck 'em. ETA - Is Bush on drugs? Why the hell is he fighting the American people and the congress (including Republicans in congress) so hard on this issue? What does he care about the UAE controlling our ports that he's willing to risk the support of his own party to see it go through? Someone ought to check his temperature. Fox News just reported that various polls from multiple sources show the huge lead, 10% to 15%, the Republican's had over the Democrats when it came to national security has now disappeared.  They said the polls are now showing the worst case of Democrats leading to the best case of Republicans having only a 5% lead.  Good job Bush, you have managed to destroy the one last remaining positive approval rating the Republican's had.

'That's it, man. Game over, game over!' - Pvt. Hudson (Bill Paxton), Aliens, 1986.

I think not.

I would be willing to bet that the GOP increases its lead in the House and retains on to its control of the Senate in November.

Any takers?

Bragging rights? Sig-lines? What are the stakes?

Eric The(Hustling)Hun

Quoted: Do you think the US government would be so quick to jump on the UAE and question their practices?

Part of the deal included US government visiblity into all areas of security (including hiring).

Quoted: Putting a US company in control of it changes everything.

This whole issue is the very definition of a mountain out of a molehill. The SAME longshoremen would be offloading ships and the SAME USCG officials would be providing security and the SAME US customs officials would be monitoring the shipments.

I'm not a fan of the President, but this whole situation is

Quoted: I would be willing to bet that the GOP increases its lead in the House and retains on to its control of the Senate in November. Any takers? Bragging rights? Sig-lines? What are the stakes? Eric The(Hustling)Hun

Hell no.  Anyone who follows politics knows that Congress always polls poorly.  Everyone hates Congress - but they love THEIR Congressman.  He never wastes money on pork, its those other guys.  He only spends money on projects that the country absolutely needs.

Democratic gains will be minimal, if any, in the midterms.  I do, however, think he's hurting the chances of someone from his administration being the Republican nominee in 2008.

Quoted: <Snip> Is Bush on drugs? Why the hell is he fighting the American people<Snip>

The longer they are in office the more my displeasure with the current President, and the Republican party in general, grows.

George Bush doesn't give one galloping rat's ass what the "people" think, nor do any of the other ivory tower assholes whom we keep installing into positions of authority.  Their refusal to address the illegal alien issue is all I need to see.

We DESPERATELY need a viable 3rd party in this country.  I cannot in good conscience vote for these idiots anymore.  I don't care if I'm "throwing my vote away".  People "threw their votes away" for Ross Perot in '92 and this led directly to Newt Gingrich and his crew acting like Republicans again for a change.

Throw the bastards out for a term or two and we'll suffer in the short term but be better off for it in the long term if we let the idiots know WHY we threw them out.  I've already written my representatives and let them know that I no longer have any use for them.

Like they give a shit.

Quoted: Quoted: Do you think the US government would be so quick to jump on the UAE and question their practices?   Part of the deal included US government visiblity into all areas of security (including hiring). Quoted: Putting a US company in control of it changes everything. This whole issue is the very definition of a mountain out of a molehill. The SAME longshoremen would be offloading ships and the SAME USCG officials would be providing security and the SAME US customs officials would be monitoring the shipments. I'm not a fan of the President, but this whole situation is

it's like letting the mexicans load a truck in mexico, and accepting their word on what's in the truck. why not just eliminate customs and just politely ask the mexicans what's in the trucks???

Quoted: I would be willing to bet that the GOP increases its lead in the House and retains on to its control of the Senate in November. Any takers? Bragging rights? Sig-lines? What are the stakes? Eric The(Hustling)Hun

Not going to take that bet. IIRC Congress can even poll "down" and still maintain its make up.

Quoted: Quoted: DP World has handed over control of the ports to the US in order to maintain positive relations between UAE and the US. End of story. But Bush told us the sky would fall if the US didn't back the port deal and immediately let it go through.  He said it would ruin our relations with the UAE if we tried to block it.  Now we find out the UAE was more than willing to work with us to keep everyone happy.  I swear Bush has lost it and has no clue what he is doing any more.

More like they were gracious enough to give up the deal, because Americans have proven themselves to be a bunch of hysterical xenophobic morons who have a second grade understanding of international business.

I wouldn't want to do business with us either.

Quoted: We can't do the deal now, we'd lose face.  We cannot allow some pissant third world country to threaten us into submission.  Dubya should tell Dubai to go F itself.

MEXICO!

Quoted: it's like letting the mexicans load a truck in mexico, and accepting their word on what's in the truck. why not just eliminate customs and just politely ask the mexicans what's in the trucks???

What are you talking about? We check manifests and, in some cases, CARGO before the ship leaves a foreign port. When the containers arrive in the US they are screened either via the documentation trail, via technology (x-ray, etc), or via phyisically opening the container.

Nothing changes when the UAE runs the ports. Not one thing.

Quoted: Quoted: Quoted: DP World has handed over control of the ports to the US in order to maintain positive relations between UAE and the US. End of story. But Bush told us the sky would fall if the US didn't back the port deal and immediately let it go through.  He said it would ruin our relations with the UAE if we tried to block it.  Now we find out the UAE was more than willing to work with us to keep everyone happy.  I swear Bush has lost it and has no clue what he is doing any more. More like they were gracious enough to give up the deal, because Americans arfcommmers have proven themselves to be a bunch of hysterical xenophobic morons who have a second grade understanding of international business. I wouldn't want to do business with us either.

Hey you...

keep your rationality and common sense out of this thread.  Can't you see we're upset that Bush hasn't declared an all out war on "brown people."

Quoted: Quoted: We can't do the deal now, we'd lose face.  We cannot allow some pissant third world country to threaten us into submission.  Dubya should tell Dubai to go F itself. MEXICO!

Agreed.  They should be first on the "F*ck off" list.

Quoted: Heard on Rush a little while ago that Dubai is threatning us w/ economic sanctions if port deal does't go through. Haven't heard it any where else but if this is true fuck-em!

because Rush Limbaugh is the bastion of honesty......

Quoted: I know this ain’t popular but that is exactly what we are doing to them…

......except we don't provide terrorists who blow up their national landmarks.......

Quoted: Quoted: Fuck 'em. ETA - Is Bush on drugs? Why the hell is he fighting the American people and the congress (including Republicans in congress) so hard on this issue? What does he care about the UAE controlling our ports that he's willing to risk the support of his own party to see it go through? Someone ought to check his temperature. It's all about money.

Bush is not on drugs.  He is a fucking genius.  This whole thing is absolutely a piece of genius.....well maybe not ,I managed to figger it out.

Bush is on his last term.  He is not getting re-elected and does not need to worry about it.  Usually this is when a prez does stuff that isn't as "popular", but needs to be done.  GWB has low ratings now, so why not use it to his advantage?  Be unwavering on a divisive subject, a subject SOOO divisive so as to even turn his own party against him.  This does two things: 1) makes him look like a person who will stand behind what he says, and that might not be of value now, but later on in history the overall impression of him will change, and 2)  Makes his party look strong and unites them in something.  Each and every incumbent will be able to say that they stood up to the president in their next campaign.  GWB is sacrificing himself for the sake of the party.

Just my stupid theory.

Quoted: bwahahahahaha omfg... i want us to stop importing oil/financing these assholes sooooooo badly.

So buy a bike.

Quoted: Quoted: Quoted: bwahahahahaha omfg... i want us to stop importing oil/financing these assholes sooooooo badly. Dubai, the home of DP World, derives only 7% of its' GDP from oil. The US derives about 2% of GDP from oil. They make money from oil we buy from their neighbors as well, and probably from the shipping of said oil. oil money = money for terorists. quite simple really

The only thing simple here is you.
As dport pointed out, the world is a complicated place.
This is far more complicated than Middle Eastern country will run our ports oh teh noes!!11 there will be nukes slipping through.
Like someone above said, the only changes will be on paper.

Quoted: Quoted: Quoted: Quoted: DP World has handed over control of the ports to the US in order to maintain positive relations between UAE and the US. End of story. But Bush told us the sky would fall if the US didn't back the port deal and immediately let it go through.  He said it would ruin our relations with the UAE if we tried to block it.  Now we find out the UAE was more than willing to work with us to keep everyone happy.  I swear Bush has lost it and has no clue what he is doing any more. More like they were gracious enough to give up the deal, because Americans arfcommmers have proven themselves to be a bunch of hysterical xenophobic morons who have a second grade understanding of international business. I wouldn't want to do business with us either. Hey you... keep your rationality and common sense out of this thread.  Can't you see we're upset that Bush hasn't declared an all out war on "brown people."

Rationality and common sense… it is pretty evident there is nothing common about good sense.

The vast majority of US port terminals are run by foreign companies… including the Chinese.

This whole affair is a case of mass idiocy and hysteria and their will be unforeseen consequence that are going to cause US unneeded problems.

The whole port deal sounded fishy from the start.
Actually, I just wanted to make a funny pun. Port... fish... tee hee.

I do worry that this will have long-term implications for the US economy and US investment at home and abroad.  The US has always been a safe haven for investment...we are one of the few countries which doesn't have a history of expropriating business investment.  Until now.

Quoted: Quoted: Heard on Rush a little while ago that Dubai is threatning us w/ economic sanctions if port deal does't go through. Haven't heard it any where else but if this is true fuck-em! because Rush Limbaugh is the bastion of honesty......

Pretty much.

Maybe you like the 'other side' better, eh?

Dan Rather a pillar of integrity in your world?

Eric The(Tee-Hee)Hun

Quoted: "In politics ... sometimes the passions and the emotions can overwhelm any factual discussion,"

SOMETIMES?

I'll be in Dubai tomorrow drinking overpriced beers and checking out the skanky whores until i catch my flight to Amstardam!

Quoted: I'll be in Dubai tomorrow drinking overpriced beers and checking out the skanky whores until i catch my flight to Amstardam!

Check out the new breakwater resorts they are supposed to be building if you have time to drive around (Planned not far from the airport). Supposed to be an amazing project.
Don't know how far they have gotten past breaking soil yet, but it looks to be a monster!

The Palm jebel Ali


The Palm Deira


Future Golden Palm Mile






Latest satellite imagery shows progress:

Dubai ports debacle darkens Gulf investors' mood
 
swissinfo   March 10, 2006 3:05 PM  


 
Dubai ports debacle darkens Gulf investors' mood

By Dayan Candappa

DUBAI (Reuters) - Gulf Arabs reacted bitterly on Friday to Dubai's decision to relinquish control of six U.S. ports, saying the political storm that forced the emirate's hand could provoke a backlash among regional investors.

State-owned Dubai Ports announced on Thursday that it would transfer the ports to a U.S. entity at the behest of Dubai's ruler to allay concerns in the United States that the deal posed a threat to American national security.

"Do you think we are happy this morning? The mood is black, very, very black," said a senior official who was involved in the Dubai Ports deal.

Since the September 11 attacks, investors from the world's biggest oil-exporting region have feared their assets in the United States might be targeted for security reasons.

While the Dubai Ports row reinforced those fears among the Gulf's wealthy private investors, most analysts had said it would barely affect state-controlled petrodollar flows that are increasingly important to the U.S. economy.

They, like the region's business community, had believed the Gulf's close diplomatic and military ties with Washington would prevail when push came to shove.

But that faith was shattered by the forced capitulation of a government-controlled company in the United Arab Emirates, a frequent port of call for American warships and a country described by President George W. Bush as a staunch ally.

"It doesn't matter whether it is a private investor or a public investor. This will affect investment," said Robert Springborg, director of the London Middle East Institute of the School of Oriental and African Studies.

U.S. critics of the deal note that two of the September 11 hijackers came from the UAE and that the country once recognised the Taliban government in Afghanistan.

Those arguments have done nothing to address concerns in the region that Dubai Ports, which had gained control of U.S. ports by taking over British firm P&O, was singled out simply because it was an Arab company.

PERCEPTION

"I have always argued that this was not an anti-Arab issue but rather a matter of domestic (U.S.) politics," said Ali Sadek, a former director of the Arab Monetary Fund.

"But the perception, whether on the street or the corridors of power, is going to be that it is."

The sheer volume of cash at stake makes that perception a matter of critical economic importance.

Record oil prices are driving up the amount of Gulf money available for investment in foreign assets by about $130 billion (75 billion pounds) a year -- about 16 percent of the external funding needed to cover the U.S. current account deficit.

The UAE economy minister warned last week that the Dubai Ports row could prompt other countries to divert funds away from the United States.

A lot of that money is channelled through bodies linked to Gulf governments, which have been diversifying their holdings across geographies and asset classes since the oil boom began.

U.S. securities still account for the bulk of the identifiable investment from OPEC oil cartel states, but their share of investable OPEC funds has fallen compared to the last oil boom in the 1970s, according the Bank for International Settlements.

The Dubai ports row has given Gulf investors another reason to keep diversifying their holdings away from the United States, the destination of choice during the 1970s oil boom, analysts said.

"There already has been a drift away from U.S. assets by Arab investors. You may well have a further drift," said Angus Blair of Dubai-based Mena Financial.

Springborg said the immediate impact would be felt in the mergers and acquisitions business, which drew more than $30 billion of Gulf cash last year. Only about 6 percent of that went to the United States, according to a Credit Suisse report.


(Additional reporting by Yara Bayoumy and Richard Dean in Dubai and Souhail Karam in Riyadh)
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