Dubai, cash-crunched and scandal-hit

What exactly is going on in Dubai?

Comments by an analyst at Standard & Poor’s - which has warned before about Dubai’s finances - suggest the emirate is running out of cash, and fast. As Dow Jones reported on Sunday:

Dubai needs to raise another $10 billion for its economic support fund as it has insufficient capital to prop up its struggling government-related companies, according to a leading analyst at Standard & Poor’s.