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Q.

Briefly describe the present financial turmoil in Dubai?

Asked by Good Citizen, 01 Dec '09 10:19 am
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Answers (6)

 
1.

Dubai's troubles caught investors by surprise. A year after the global slump derailed the city-state's dizzying growth, its main investment arm, Dubai World, revealed this week it was seeking at least a six-month delay on repaying its $60 billion debt. Credit agencies responded by slashing debt ratings on Dubai's state companies, saying they might consider the plan a default!!
Answered by dharamender nebhnani, 01 Dec '09 09:16 pm

 
  
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2.

The builders are building homes at a place where very few people stay. The first lot of sellers were builders and the purchasers were investors. Now the builders as well as the investors have become sellers and there are no buyers. It should not have any effect on India atleast. Less than a dozen investors, who out of greed have borrowed money may commit suicide.
Answered by manoj thakur, 01 Dec '09 11:19 am

 
  
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3.

Almost same as that of USA sub-prime crisis.
Answered by Damodar Biswal, 01 Dec '09 10:26 am

 
  
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4.

The fallout from Dubai's debt crisis rippled across the globe Friday, raising concerns of another wave of financial turmoil and showing how vulnerable the world economy remains despite signs of recovery.

As global stock, commodity and currency markets went into a tailspin, the possible spillover effects from Dubai surfaced from London to South Korea, with banks big and small drawing concern for any losses they could suffer as a result of their exposure to the massively debt-laden emirate.

While it appears Canadian companies seemed to have escaped with little or no impact from debt crisis, the loonie took a beating from a drop in oil prices which analysts suggested could reflect the turmoil in Dubai.

A year after the global slump derailed Dubai's explosive growth, the city-state's main investment arm, Dubai World, revealed this week it was asking for at least a six-month delay on paying back its $60 billion debt. Major credit agencies responded by slashing debt ratings on Dubai ...more
Answered by Shan Real, 01 Dec '09 10:25 am

 
  
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5.

I concur with Shan Real.
Answered by Siachen, 01 Dec '09 11:58 am

 
  
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6.

Indian ke socho yaar dubai se kya lena aadhe se jyada indian to wahan ghatiya job karte hain
Answered by krish, 01 Dec '09 10:39 am

 
  
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