Dubai World Debt Scare Jolts Markets

Markets in Asia and Europe opened lower this morning as fears continue to grow over the potential fall-out should Dubai World – described as the “centerpiece” of the Dubai’s economy – fail to meet upcoming debt obligations.

“You can’t just say to the world: ‘I don’t want to pay my debts’. There is no income coming in from any of these properties. I think this is shocking PR”, said David Buik, senior partner at BGC Partners.”

BBC News

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