Dubai Defies Slump as Minogue Joins $20 Million Party (Update1)

[babsbunny]

http://www.bloomberg.com/apps/news?pid=20601088&sid=aRrzuJ_6E3_0&refer=muse

By Ayesha Daya


Nov. 21 (Bloomberg) -- Dubai defied the economic crisis last night as stars flocked to South African billionaire Sol Kerzner's Atlantis resort for a $20 million party that included the world's largest fireworks display dazzling enough to be seen from space and a performance by pop singer Kylie Minogue.

The 2,000 guests of the Atlantis, located on a man-made island in the shape of a palm, were treated to a champagne reception and an ``Atlantean Feast'' and danced the warm night away to Minogue's performance of ``Better the Devil You Know'' followed by Samantha Ronson, a DJ friend of actress Lindsay Lohan, mixing 1980s pop music.

``I love Dubai, I love the architecture'', basketball player Michael Jordan said in an interview on the red carpet before the party. ``It's the second time I've been here, I'll be back.''

[KeepItReal]

1. Sounds like a great party in Dubai. Hope they have fun while it lasts.

"Moody's Investors Service said Oct. 13 Dubai may need support to finance its $47 billion debt, more than its gross domestic product.

Growth in the U.A.E. may slow to about 4 percent as the financial crisis damps global expansion, Central Bank Governor Sultan Bin Nasser al-Suwaidi said today. On Aug. 28, al-Suwaidi said the economy would expand 6.6 percent this year and ``stay strong through 2009'' if oil prices remained above $60 a barrel. The price of oil has plunged 65 percent from its July peak, to $49 a barrel today, as slowing global growth damps demand. "

Sound like they are putting it all on the credit card, too. Good luck with that Dubai.

[madrchsod]

2. lindesy lohan and one of the olsen twins were flown in for the occasion....

what? no paris hilton?.