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Financial crisis a “passing cloud,” says Sheikh Mohammed

Sheikh Mohammed bin Rashed Al Maktoum, the Ruler of Dubai, has described the global financial...

September 6, 2009 12:01 by

Sheikh Mohammed bin Rashed Al Maktoum, the Ruler of Dubai, has described the global financial crisis as a “passing cloud,” reports the UAE’s official news agency WAM.

Speaking at meeting of business professionals at the Zabeel Palace on Thursday, he said “[the financial crisis] is a passing cloud that will not stay longer despite pessimistic speculation and analyses by economists and financial experts.”

He also encouraged the local business community to remain positive about the Emirates’ economic future, and called for closer ties between the private and public sectors.

“Both public and private sectors must shun the will of imposing the status quo policy and adhere to the will of change for the better. Public-private sector partnership is crucial to reach this goal,” he said.

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  1. Amin on September 6, 2009 11:16 am

    Inshallah, may the cloud pass quickly. However, we do need to keep ‘humanitarian’ work and avoid this kind of incidents (not by indirect suppression, but addressing the root causes) (Link: )

    Keep smiling !!!!

  2. DAVID MOORED on November 11, 2009 4:59 pm

    Its fine telling people to shut up, however the only reason that people are talking bad about Dubai is because they will not PAY UP, Nakheel the state owned debt lingered development company owes my firm 48million Dirhams and offered to pay us 60% of that over 2 years, The world does not care about putting Dubai down, but they do care when Dubai has bought people who have worked a lifetime to build a business on the verge of bankruptcy by not fulfilling payment commitments.
    We did the work we want our money, so rather than telling others to Shut why don’t you just PAY UP or do younot have the money!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


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