Dubai: U.A.E City-State In Deep Debt Crisis

The crisis is linked to the stricken Dubai property giant Nakheel, ...

The crisis is linked to the stricken Dubai property giant Nakheel, whose logo is seen here lining a street in Dubai. Global stock markets fell for a second day over investor alarm about possible domino defaults rippling out from a shock request by Dubai to suspend debt payments.(AFP/Karim Sahib)

Is the sun setting on Dubai’s dreams?…

Dubai a  city-state on the Arabian peninsula and member of the United Arab Emerites has requested an extension on over $60 billion of debt. That action rattled markets in Asia which started selling gold which has been an investment magnate the past year.

VIDEO: Hong Kong shares have tumbled almost 5% as investors ...

Hong Kong shares have tumbled almost 5% as investors were spooked after Dubai asked for a debt repayment delay for a key state-owned firm( AFPTV)

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