Dubai Fund Feeling Good

Ististhar,a Dubai sovereign wealth fund,has come through a tough period earlier in the year.CEO David Jackson described February-March as difficult.They had to sell some assets,as cash was needed elsewhere.Now we're feeling pretty good about the portfolio,Mr.Jackson said.Like everyone else,we're cautious now.We're making small,bolt-on acquisitions.We're holding on to Barneys stores.We believe in the brand,but luxury bands aren't fairly valued right now.
Dubai's projects,such as its palm islands development,are going forward.We're still alive and kicking,Mr. Jackson assures us.I have an excellent relationship with the sheikhs.At one point,everyone's job was on the line.I'm committed to preserving what we have in the portfolio,Mr.Jackson noted.
Dubai is one of the United Arab Emirates.The UAE is on the Persian Gulf,between Oman to the south,and Qatar to the north.

Commerce Department Backs Exports

The Commerce Department is increasing its export promotion program,according to Secretary Gary Locke.That's a sure way of economic growth in tough times,Mr.Locke said.It's our fault we're not publicizing these programs,Mr.Locke admitted.We'll do background checks of foreign countries with our Foreign Commercial Service Officers.Small business really accounts for most of the exports.Up to 70% of U.S. companies' foreign business comes from this program.
Mr.Locke said the Commerce Department investigates complaints of illegal subsidies filed by industry groups.We are required by law to investigate.While we have some issues with China,we are still moving forward trying to free up trade.I am going to China at the end of the month,trying to increase trade.It's very important that both sides live up to their commitments,Secretary Locke believes.
We have companies that sell to only one country.There's no reason they can't sell to two or three countries.We have a Commerce Counsel program where they can meet with just one cross-trained person to help them with this,Mr.Locke pointed out.

Doha Bank's Orderly Vision

For Rahgavan Seetharaman,CEO of Doha Bank in Qatar,global governance is the key.We need to articulate a new world order:how to correct the imbalances,creating consumer confidence.The Middle Eastern banks are relatively stable,Mr.Seetharaman feels,although the region has been going through a bit of turbulence.It is coming to terms with the realignment with the rest of the world.The stock market is recovering.Financial stability is the key,and that's what the regulators are doing,the Doha Bank executive indicated.
Qatar is located on the Persian Gulf,between Bahrain to the north and the United Arab Emirates to the south.Saudi Arabia lies to Qatar's west.

IMF Leader Is Heartened

Dominique Strauss-Kahn,Managing Director of the International Monetary Fund,says the global economy is recovering,but unemployment usually lags by 10 months or more,and we shouldn't be too optimistic.Moreover,there are some possibilities of a double dip.It's not the main scenario in which we believe,but it may happen,Mr.Strauss-Kahn cautioned.
When the good news started in April,he was initially concerned countries would start unwinding stimulus packages too early.He's now heartened,the IMF executive said.I know that we will go on pushing the public support to demand until private demand will take over.I'm reasonably confident that growth will resume,but countries are exiting stimulus strategies on their own,without coordinating for an international response,pose a big risk.Exit strategies must be coordinated as much as possible,Mr.Strauss-Kahn insisted.
The IMF is an autonomous UN agency that works to further global monetary cooperation,currency stability and international trade.It's headquarters are in Washington,D.C.