Dec 2, 2009

World lacks understanding of Dubai World debt crisis: Mohammad

Dubai: Dubai's ruler has told a TV channel that the emirate's economy is "strong" and "solid".
His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, told the Al Arabiya TV channel that the world did not understand Dubai's announcement on restructuring of the emirate's deeply indebted conglomerate Dubai World. He told the Dubai based channel that the crisis that erupted on the global markets in the aftermath of Dubai World's request to freeze its debt indicated a "lack of understanding of what is happening in Dubai."