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10 catchiest Dubai headlines in 2009

10 catchiest Dubai headlines in 2009

The financial crisis, the ever-existing labor problems, and the recent debt debacle….Dubai and its blunders became juicy fodder for the international press during 2009.

December 30, 2009 2:00 by



Dubai made global headlines throughout 2009, mostly for the wrong reasons. While the global financial crisis in 2008 had global media questioning the city’s glamor, the announcement of debt problems in the emirate in November this year had them predicting its death.

Government owned Dubai World said it will ask creditors for a six-month debt standstill, and the announcement led to stock markets falling across the world. The media immediately began discussing how the desert’s bubble had burst, and questioned whether the city would ever rise again.

But the bubble had not burst, insisted General Dahi Khalfan Tamim, the chief of Dubai Police at the time. “I noticed that Gulf and foreign media, as well as a large segment of general public, confuse between debts of Dubai government, which are almost non-existent, and the debts of local companies. This confusion should be corrected and the public should be made aware that to separate between the two types of debts,” he told official news agency WAM.

Abdul Rahman al-Saleh, the director general of the Dubai Finance Department also accused the international media of creating “blind panic” about Dubai’s economic troubles.  He said that the response by world markets was “exaggerated” and that the media wrongly reported Dubai World’s debt as sovereign.

Earlier in the year, following reports speculating a possible buyout of Dubai by Abu Dhabi, the emirate’s ruler Sheikh Mohammad Bin Rashid al-Maktoum warned critics to stop questioning the UAE’s unity.



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3 Comments

  1. KhanDubai on December 31, 2009 8:52 am

    You guys ARE pretty pessimistic at Kippreport, aren’t you?

    Couldn’t you find a single positive headline for Dubai? The opening of The Burj Dubai for insatcnce; the tallest tower in the World, guys!!

     
  2. Amit on December 31, 2009 10:22 am

    I have been living in Dubai for 12 years and many more have been living for 2-4 decades. And many from the media have sold Dubai supplements 4 times the prices and cashed on the Dubai brand. And as i read Kippreport I just smile because i wonder is there any media who stands up to something or reports the perspective from both sides! All Kippreport has been writing and projecting what a debacle Dubai is ! well! i guess thats what is selling because after all i logged on to the website and here i am responding.
    Bottomline – Its a global economy effect which will settle down and revive. As far as the Gulf as a whole is concerned its going to be the new world developing and Kippreport will have an office there very soon! While Kipprreport writes, the purchase of real estate has increased in Dubai and of course the buyers are the sensible people who play for the long run. Maybe the companies of the world have been stupid to come to Dubai or maybe they weere sensible enough not to get affected by one sided reports.

     
  3. Iftikhar Awan on December 31, 2009 11:59 am

    It’s good to be optimistic but it’s more better to be realistic and what’s happening in Dubai today is due to unrealistic boom!

     

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