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The party's over for Dubai...
Posted: 30 November 2008

"Local banks are in trouble and property prices have crashed...with property and tourism making up half of the economy...the party's over..." Sunday Times 30 November 2008.

Read more here: http://business.timesonline.co.uk/tol/business/economics/article5257874.ece

MindBullet logo THE NEW ECONOMIC WAR: CITY VS CITY
Ugly battles for differentiation: Kuwait wins
Dateline: 14 January 2015
Hong Kong's New Year celebrations were dampened by the news that Kuwait's Silk City had topped the financial services league to become "The #1 Global Financial Center". The mood in New York and London was as glum as the weather. Over the past five years the banking and financial sector in Kuwait has evolved to global standards at a pace that would have been unthinkable in the early 2000s. ...
 
Doug Vining And now the debt can't be paid. The dangers of artificial demand. "I told them so," says @justinspratt referring to a telling blog post from Dec 2007. http://www.sandboxsavant.com/2007/12/everyone-talks-about-dubai-as-this.html
Posted: 27 November 2009 at 11:22
Doug Vining Laid-Off Foreigners Flee as Dubai Spirals Down - NY Times http://www.nytimes.com/2009/02/12/world/middleeast/12dubai.html?_r=3&partner=rss
With Dubai’s economy in free fall, newspapers have reported that more than 3,000 cars sit abandoned in the parking lot at the Dubai Airport, left by fleeing, debt-ridden foreigners (who could in fact be imprisoned if they failed to pay their bills). Some are said to have maxed-out credit cards inside and notes of apology taped to the windshield.
Posted: 16 February 2009 at 07:07
 
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