It was announced at the official opening of the tallest building in the world that it will no longer be called the Burj Dubai, but rather the Burj Khalifa, a nod to the President of Abu Dhabi, Sheik Khalifa.
One will of course recall that just a few weeks ago, Abu Dhabi rescued Dubai from the brink of bankruptcy in the form of a desperately needed $10B infusion. The name change is unquestionably a "thank you!" to the neighboring emirate. It might even represent collateral - if Dubai defaults again, hey, at least we got a landmark! Let's hope current bondholders don't have to find out.
Perhaps they could be consoled by knowing the money was put to good use in the most amazing fireworks show ever :
(The Burjwas last seen in TGR's most popular post to date)