Friday, 27 December 2013

Dubai optimism fails to mask concerns on overheating risk - FT.com

Dubai optimism fails to mask concerns on overheating risk - FT.com:

"Four years after a sovereign debt crisis thrust Dubai on to the front pages for all the wrong reasons, the Gulf city-state is celebrating a trade and tourism-led renaissance.
Last month’s decision to award the World Expo 2020 to the United Arab Emirates’ commercial hub gave the once-bruised city a much-needed international stamp of approval. Hosting the event is expected to deliver a two per cent boost to GDP.
Mohammed al-Shaibani, chief executive of the state holding company Investment Corporation of Dubai, said the emirate is in an “extremely comfortable” position. “Things look very, very positive,” he told the Financial Times in an interview."

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