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Home » The Blog

Dubai Goes Bust?

Saturday, 3 January 2009 No Comment

So says the CBS, a prestigious American news channel, which carries a video report stating that:

“Banks aren’t lending. Projects are shelved. And the normally secretive government has had to acknowledge it has one of the highest levels of per-capita debt in the world – and not enough oil to pay for it. The worst is still yet to come in the sense of people losing properties”.

Dark days indeed?

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