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Dubai Debt Crisis Halts Building Of World's Largest Indoor Mountain Range

By hassan1024 on Fri, 15/01/2010 - 12:40pm

Representatives from the emirate of Dubai announced with disappointment this week that its recent debt crisis has forced developers to halt construction on the city's long-planned 22-mile-long indoor mountain range.
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The culmination of a decade's worth of ambitious and expensive building projects, Dubai's estimated $100 billion debt officially brought work on the artificial mountain range to a stop on Tuesday.


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Phoenix_Rising's picture

DUBAI, CRUEL WORLD .

By Phoenix_Rising on Sun, 29/11/2009 - 10:56am

http://www.forbes.co...

Dubai, Abu Dhabi And Debt
Paul Maidment, 11.27.09, 02:15 PM EST

Flashy Dubai is being brought low by its reliance on foreign investment. Abu Dhabi will bail it out, but at a cost.

If Arabic has an equivalent to schadenfreude, it must be being muttered in Abu Dhabi right now.


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lusitano's picture

Dubai economic crisis - what is happening?

By lusitano on Mon, 26/01/2009 - 10:13am

What is really happening in Dubai?
While the Dubai Authorities and the local media tend to paint a rosy picture of an evident critical and problematic financial situation in Dubai, some of the International Media seem to be more open about it.
How much of this is affecting Qatar?
How will the Dubai crisis, impact on Qatar?

Here are some articles exposing what Dubai does not wish to disclose:

"Damac Properties in Dubai Fail to Pay Employees Full Settlement on Dismissal
If you were beginning to believe the press releases stating that Dubai is immune from the financial crisis, the latest report from Gulf news should disabuse you of that notion. Employees fired by Damac last month due to the financial crisis are not being paid their full settlement."

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