Dubai's five-year economic turnaround: timeline - Telegraph

Dubai's five-year economic turnaround: timeline - Telegraph:



"

Dubai has gone from bust to boom in just five years Photo: Rex Features

Feb 2009 Dubai launches $20bn (£12bn) bond programme to ease debt fears and sets up support fund. UAE central bank subscribes.



Nov 2009 Dubai World seeks six-month standstill on $26bn of debts. Thousands of high performance cars are abandoned at Dubai Airport, right, after expatriates flee the emirate to escape its harsh debt laws.



Jan 2010 Dubai’s Burj Khalifa, the world’s tallest skyscraper, opens. Like the Palm and World Islands, far right, it can be seen from space.



Feb 2010 The IMF estimates Dubai’s total debts at $109bn, or 130pc of GDP.



Oct 2010 Dubai World secures agreement with creditors for debt restructuring.



May 2012 Dubai sovereign wealth fund Istithmar World gives up control of luxury retailer Barneys New York.



Nov 2013 Dubai wins World Expo 2020. Minister Reem Al Hashimy, left, promises a “positive” image of tolerance.



Dec 2013 The Investment Corporation of Dubai buys Atlantis resort to help to ease Dubai World debt burden.



Feb 2014 Dubai says that it has agreed deal with the UAE central bank to roll over a $10bn bond programme."



'via Blog this'