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This spectacular Dubai fountain broke the world record!

 The glitzy emirate of Dubai broke the record for the world’s largest fountain on Thursday. Photograph: Ahmed Jadallah/Reuters Located at The Pointe in Dubai’s waterfront Palm Jumeirah......

Dubai World plans alternatives for $26 bn debt

 In a 'constructive' progress to move out of its debt repayment crisis, troubled conglomerate Dubai World has said it is considering alternatives for obligations worth $26 billion, an amount nearly......

Dubai's The World: A paradise that never was

 Before the sub-prime caught the world economy off-guard, Dubai was planning several mega-projects, including The World, an artificial archipelago of various small islands constructed in the rough......

Dubai restructures Nakheel board

 The Dubai government has restructured the board of Nakheel, the troubled realty arm of debt-ridden company Dubai World, naming Ali Rashed Ahmed Lootah as new chairman. Lootah replaced Sultan Ahmed......

Dubai govt to pump $9.5 bn in Dubai World

 The Dubai government will pump in $9.5 billion into the debt-laden conglomerate Dubai World, which submitted its plan to restructure debt worth $23.5 billion to its creditors. As part of its......

DBS Bank has $400m exposure to Dubai World

 The Singapore-based DBS Bank has said its total exposure to Dubai is around $1.28 billion and out of this only $400 million is to the troubled Dubai World, but the bank believes that the situation......

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