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Dubai, UAE economies are 'fine' - Sheikh Mohammed

28 juni 2010

Dubai, UAE economies are 'fine' - Sheikh Mohammed

by Andy Sambidge

The economies of Dubai and the UAE are "fine" and officials are dealing with the challenge presented by the global downturn, Dubai ruler Sheikh Mohammed Bin Rashid Al Maktoum has said.

In an interview with CNN to be broadcast on Friday, Sheikh Mohammed, also the UAE's Prime Minister, said: "I think the recession is all over the world and I don't call it a recession, I call it challenge."

On the issues relating the to restructuring of Dubai World's debt, he added: "The companies are restructuring because it's a new world. You have to stop and restructure."