Monday, 28 June 2010

Comment: Long-term test of unity for UAE


Seven months after Dubai shocked the world with a sudden restructuring of one of its flagship companies, the sense of relief is palpable in the city as well as in Abu Dhabi, the better-off neighbour that came to the rescue.

Although the crisis provoked serious tensions between the United Arab Emirates’ two leading centres, Dubai was thankful to be part of an oil-rich federation. Sheikh Mohammad bin Rashed al-Maktoum, the ruler, renamed the just-completed Burj Khalifa, the world’s tallest tower, after the UAE president.

Yet, in spite of the relief – Dubai World looks set to reach a consensual agreement with its creditors – a new kind of anxiety seems to have developed among at least some nationals in the emirate.

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