Friday, 14 January 2011

Dubai using key option to battle financial crisis

While Western nations have been spending hundreds of billions of dollars, euros and pounds on bailing out the financial system, Dubai has appeared to follow a take-it-or-leave-it option with its financiers.

That is the view of Insead Professor of Entrepreneurship and Family Enterprise Stephen Mezias at the international business school's Abu Dhabi campus.

'Instead of being hounded by creditors and haunted by the looming threat of forced bankruptcy, those that owe billions in Dubai are being chased by investment bankers who want to help sell assets and restructure payments,' he said.

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