Dubai debt `standstill’ raises alarms about image

Posted on November 26, 2009 by

DUBAI, United Arab Emirates — Just a year after the global downturn derailed Dubai’s explosive growth, the city is now so swamped in debt that it’s asking for a six-month reprieve on paying its bills — causing a drop on world markets Thursday and raising questions about Dubai’s reputation as a magnet for international investment.

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Dubai debt `standstill’ raises alarms about image