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Sunday, 26 September 2010

Exclusive interview: Shehab Gargash - Banking & Finance -

Daman Investment chief Shehab Gargash on errors and excess in the emirate, and why Dubai must evolve to survive.

Shehab Gargash's Sheikh Zayed Road office hasn't changed much since he last invited Arabian Business in to talk, two years ago. The tan leather sofas are as comfortable as ever, the overstuffed bookshelves still look fit to buckle, and Gargash's lifelong passion for art is reflected in the striking pieces that adorn his walls.

Outside, of course, everything is different. Gulf bourses are down an average of 50 percent since their 2008 peaks, and Dubai's bubble has burst to reveal a $25bn debt pile."