Dubai , the upstart sheikdom of the United Arab Emirates , agreed Tuesday to purchase the storied British shipping company Peninsular and Oriental Steam Navigation for # 3.3 billion -LRB- $ 5.7 billion -RRB- , strengthening Dubai 's position as a center of commerce and transport .
Dubai /location/administrative_division/country United Arab Emirates
United Arab Emirates /location/location/contains Dubai
United Arab Emirates /location/country/administrative_divisions Dubai
United Arab Emirates /location/location/contains Dubai
United Arab Emirates /location/country/administrative_divisions Dubai
Dubai /location/administrative_division/country United Arab Emirates
NNP , DT NN NN IN DT NNP NNP NNP , VBD NNP TO VB DT JJ JJ NN NN JJ CC JJ NN NNP IN # CD CD -LRB- $ CD CD -RRB- , VBG NNP POS NN IN DT NN IN NN CC NN .