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Egypt struggles to recover tourism, investment

Standard & Poor's downgraded Egypt's currency rating for the second time in four months based on the country's shorfall in foreign reserves and shaky political transition. It's the latest development for a nation facing…

Iraq plans 'Baghdad Eye' to draw in tourists

Iraqi officials are planning on having a Ferris wheel built as a tourist attraction to the nation's capital, Baghdad. The wheel would be called 'Baghdad Eye' and is planned to sit over 650 ft above the Tigris River.…

Dubai purchases RMS Queen Elizabeth 2 for $100 million

Dubai has announced the purchase of the British ocean liner RMS Queen Elizabeth 2 from Cunard Line for US$100 million, for conversion into a luxury floating hotel, starting in 2009. It is part of Dubai's ongoing plans…