IF SECRETIVE, opulent Monaco can be considered a sunny place for shady people, what does that make the oil-rich state of Dubai in the Middle East?
For investors and entrepreneurs it has proved a dicey place to do business, where contracts and courts have a mind of their own and the cycle of boom and bust is supercharged by barrels upon barrels of petroleum.
Australia's Hastie Group has discovered just how dangerous to your wealth Dubai can be as its $6.2 million construction dispute with Dutco Balfour Beatty grinds through the courts and it stands to lose that sum of money plus another $8 million to $10 million in unpaid bills that the ASX-listed company has already written off.
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