Dubai’s debt problems put in a holding pattern | beyondbrics | FT.com

After a delay of almost a month, the 2009 financial results of Dubai Holding’s commercial arm were unveiled today.

The 88-page document released this morning on Nasdaq Dubai’s website from Dubai Holding Commercial Operations Group, shines a spotlight on the economic turmoil afflicted on the emirate by Dubai Holding, a conglomerate majority owned by the ruler, Sheikh Mohammed bin Rashid Al Maktoum.

The results are another stark reminder of the challenges facing Dubai since the real estate bubble collapsed, dragging down economic activity and confidence in the once-invincible emirate.