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Dubai request for debt 'standstill' raises fear

By BARBARA SURK
,
AP
posted: 115 DAYS 8 HOURS AGO
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DUBAI, United Arab Emirates -Just a year after the global downturn derailed Dubai's explosive growth, the city is now so swamped in debt that it's asking for a six-month reprieve on paying its bills — causing a drop on world markets Thursday and raising questions about Dubai's reputation as a magnet for international investment.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2009-11-26 23:54:18
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Just a year after the global downturn derailed Dubai\'s explosive growth, the city is now so swamped in debt that it\'s asking for a six-month reprieve on paying its bills _ causing a drop on world markets Thursday and raising questions about Dubai\'s reputation as a magnet for international investment.