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Financial Crisis Hits Dubai ?
18 hours ago ago from Wong168's Blog
Just a year after the global downturn derailed Dubai’s explosive growth, the city is now so swamped in debt that it’s asking for a six-month reprieve on paying its bills – causing a drop on world markets Thursday and raising questions about Dubai’s reputation as a magnet for international investment. The fallout came swiftly and was felt globally after Wednesday statement that Dubai’s main development engine, Dubai World, would ask ...
Related contentHow Dubai's burst bubble has left behind the last days of Rome
8 hours ago ago from The World We Live In !!!
Hugh Tomlinson and James McLean Times Online The engine of the black Corvette revved to a gasket-popping roar. Its driver leant out of his window. He was dressed in traditional Arab robes but wore a rubber wizard’s mask. He held an aerosol aloft and directed a jet of party foam into the air. Four-wheel drives plastered in pictures of Dubai’s Royal Family roared their engines back in approval. The cacophony was deafening. On the ...
Related contentDubai Hotel Guide - Hotels in Dubai For All Likings and Budgets
6 hours ago ago from Metropolitant Tours and Travels
Planning a stay in Dubai for your business meeting or family vacation? Not a problem! Being the newest and preferred business and tourist destination of the world, Dubai offers a wide variety of hotels and accommodations. Hundreds of hotels ranging from cheap hotels to the world's only 7 star hotel (Burj Al Arab) are scattered across Dubai. More are still under development in the everyday ongoing construction such as the Burj Dubai. All the ...
Related contentOutlook for Dubai Rental Properties in 2010
22 hours ago ago from Real Estate Information
The year 2009 has been a year of many changes in the Dubai property market. It has become clear that the earlier boom period seen over the last six years or so has come to an end, and the market is clearly in a downward spiral. Many are wondering when it will bottom out, and it is expected that some of the lowest price levels will be seen in March-April next year. A few analysts are even prone to equate the Dubai housing and financial crisis ...
Related contentDubai mega-tower `last hurrah' to age of excess
2 hours ago ago from Everything Under The Roof
DUBAI, United Arab Emirates – When work began in 2004 to build the world's tallest tower , Dubai 's confidence also was sky high with a host of mega-projects on the drawing board or rising from the sands. That swagger seems positively old school these days. It's been tripped up by a debt crunch that has humbled Dubai's leaders and exposed the shaky foundations of the city-state's boom years — leaving the planned Jan. 4 opening of the ...
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Reuters Breakingviews: Triple-A Debt Harder to Find
12 hours ago ago from The New York Times
Investors who seek triple-A debt are running out of options. Yet another top-rated class of debt is on the hit list now that Standard Poor's may downgrade covered bonds a type of mortgage-backed security popular in Europe. Soon there will be little AAA debt left outside the world of government and quasi-government debt. That's putting safety-oriented investors in a bind. Agence France-Presse Getty Images Monitoring the Dubai ...
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