It was already looking somewhat strained, but now the West's love affair with the debt-fuelled desert oasis of Dubai has come to an abrupt halt. While the initial panic in response to the Dubai Government's decision two weeks ago to ask creditors for a debt standstill on the obligations of Dubai World has died down, there is no doubt the emirate's reputation as a business centre has taken a knock.
December 09, 2009 at 07:04 PM
1 minute read
The original version of this story was published on Legalweek
Dubai World’s restructuring will see firms take a hard look at Middle East strategy
It was already looking somewhat strained, but now the West’s love affair with the debt-fuelled desert oasis of Dubai has come to an abrupt halt. While the initial panic in response to the Dubai Government’s decision two weeks ago to ask creditors for a debt standstill on the obligations of Dubai World has died down, there is no doubt the emirate’s reputation as a business centre has taken a knock.
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