Dubai Needs a Reality Check?
The world is crumbling with an economic crisis. Yet Dubai seems to be in world of its own. The Antlantis opened this week in Dubai with $20 million bash!
The excesses of recent times are most visible in Dubai – endless constructions, eternal traffic jams, and mindless spending. No wonder Dubai is headed for some difficult times. Check out report in the WSJ.
Dubai is the most “vulnerable” sheikdom in the Persian Gulf to a downturn in the economy amid concern over its real-estate industry and debt financing, Citigroup Inc. said in a report.
Another report suggests that Abu Dhabi might need to bailout Dubai!
Ok, add one more to the bail out queue!