Articles tagged with: Credit Crunch
Q. Where did Dubai go wrong? I thought it was in the “oil-rich Gulf”?
A. Dubai is part of the United Arab Emirates, seven city-states which have separate ruling families, separate budgets, but security, immigration and …
The index of leading shares closed up 51.6 – or 1pc – at 5245.73, partly reversing Thursday’s 3.2pc drop, sharp losses at the start of trading, and plunging prices on Wall Street as US investors …
Debt-burdened Dubai has insisted that it took into account the effect its bid to delay paying creditors would have on world markets.
But it offered no specifics and did little to ease worries that hit trading …
No one could have missed the news surrounding Dubai over the last few days, I doubt anyone has ever asked for more time to pay a loan and had such attention put on him before. …
Dubai’s government has moved to reassure investors after abruptly sidelining the emirate’s recently appointed director of finance as he sought to lessen the effects of the economic crisis.
Nasser al-Shaikh was appointed eight months ago to …
Dubai is expecting a deficit-free budget next year as the emirate moves to slash its operational expenses. It is also planning to decrease its fees to further stimulate the economy but is not contemplating any …
EFG Hermes on Monday confirmed that real estate prices are falling in Dubai and said it could take more than two years for prices to pick up.
“We don’t really have an understanding of the full …
The classified ads in Dubai read like an obituary for a real-estate market that until a few months ago seemed immune from the global credit crisis.
A Turkish investor, who identified himself as Sebat, took out …
Dubai property giant Nakheel — behind such grandiose projects as a one-kilometre tower and artificial palm-shaped islands — said Sunday it has fired 500 staff because of the global financial crisis.
The government-controlled developer, one of …
Nakheel, one of the world’s largest privately owned real estate developers, has announced plans to scale back work and cut staff.
Just days after the high profile arrival of the QE2 at its new home in …
