Dubai threat to hit back

Dubai threat to hit back
By Roxana Tiron

Dubai is threatening retaliation against American strategic and commercial interests if Washington blocks its $6.8 billion takeover of operations at several U.S. ports.

As the House Appropriations Committee yesterday marked up legislation to kill Dubai Ports World’s acquisition of Britain’s Peninsular and Oriental Steam Navigation (P&O), the emirate let it be known that it is preparing to hit back hard if necessary.

A source close to the deal said members of Dubai’s royal family are furious at the hostility both Republicans and Democrats on Capitol Hill have shown toward the deal.

“They’re saying, ‘All we’ve done for you guys, all our purchases, we’ll stop it, we’ll just yank it,’” the source said.

Retaliation from the emirate could come against lucrative deals with aircraft maker Boeing and by curtailing the docking of hundreds of American ships, including U.S. Navy ships, each year at its port in the United Arab Emirates (UAE), the source added.

More @ http://tinyurl.com/s7k2f The Hill

Told you! The Basti rule about money being the bottom line still holds true.

We don't owe these people in Dubai a damn thing, but the back of our hand! And we don't have to kiss any butt for anything or about anything.

UPDATE..................

UAE firm to transfer port operations to U.S. 'entity' Sources: House, Senate leaders tell Bush deal appears dead Thursday, March 9, 2006; Posted: 4:02 p.m. EST (21:02 GMT) Sen. John Warner announces DP World's decision on the Senate floor Thursday. Image: WASHINGTON (CNN) -- United Arab Emirates-owned DP World said Thursday it would transfer its operations of American ports to a U.S. "entity" after congressional leaders reportedly told President Bush that the firm's takeover deal was essentially dead on Capitol Hill. "Because of the strong relationship between the United Arab Emirates and the United States and to preserve that relationship ... DP World will transfer fully the U.S. operations of P&O Operations North America to a United States entity," Edward H. Bilkey, DP World's chief operating officer, said in a statement.

More @ http://tinyurl.com/r27x4 CNN

GOOD!