Cheap oil trips up Gulf’s banks - FT.com:
"Late last year, tales of indebted managers closing down their businesses and fleeing the United Arab Emirates re-emerged. In an echo of the financial crisis, there were stories that owners of small and medium sized enterprises were leaving the country rather than risk jail for not paying debts.
A wave of expats leaving cars at the airport has yet to materialise, but dozens of corporate directors — especially contractors reliant on government spending — have been folding their businesses as payments slow after the collapse in oil prices."
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