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Austin, TX (ZPRYME NEWS) – 05/14/08 - The oil industry is the backbone of Dubai’s economy. The first oil was discovered in the mid 1960s. Dubai is not focusing in oil but is diversifying it’s economy. USA Today states that, “The city now has thriving manufacturing, finance, information technology and tourism sectors and is home to numerous multinational companies such as AT&T, General Motors, Heinz, IBM, Shell and Sony.”

New York, NY (ZPRYME NEWS) – 05/07/08 - Dubai-based companies contributed largely to the huge acquisitions made by Gulf companies as a whole. In 25 July 2007, Issac John of Business Times with “GCC’s foreign acquisitions to hit $60 billion”, reported that the $60 billion worth acquisitions made by the gulf companies even increased with the $2 billion worth of acquisition made by the Dubai Aerospace Enterprises for a 60 percent share in Auckland International Airport.