Mohammed among Time's 25 top world personalities

"The Shaikh's tax-free policies have helped attract global brands like Microsoft to set up units in Internet City, a free-trade zone for e-business. Some five million tourists a year stream to Dubai's beach resorts, anchored by the superluxe Burj al Arab", Time says in its December 20 issue.

"Local executives affectionately call him Shaikh Mo. From the nickname, you would hardly know he is the Crown Prince of Dubai and the man who has directed the tiny emirate's transformation from an ancient Gulf port into a glitzy international hub of spas and skyscrapers and a beacon of modernity for the Arab world", it said in the issuse that is due to hit the stands.

Jeffrey Immelt of General Electric, Volkswagen's Wolfgang Bernhard, Royal Dutch Shell's Jeroen Van Der Veeer, Chuck Prince of Citi Group, John Thain of New York Stock Exchange, Jamie Dimon of JPMorgan Chase, Li Dongsheng of TCL are among the others in the Time list.

Shaikh Mohammed "is building the Singapore of the Middle East, a free port

where business and ideas can mix. On behalf of Dubai's ruling Maktoum clan, Shaikh Mohammed has spurred growth by channelling government funds, providing infrastructure and slashing red tape for new resorts, business centres and port facilities", it said.

"The Shaikh's latest projects are a series of man-made islands featuring luxury hotels, and purportedly the world's tallest building," it said. It noted that Dubai's GDP has rocketed from $8 billion to $20 billion since 1995.