November 27, 2009
Posted: 1638 GMT

News that Dubai, the super rich, super ambitious, 24-hour a day bundle of economic energy is now asking its creditors for loan repayment mercy is sending mini shockwaves around the world.

About half of the money Dubai has borrowed to expand at breakneck speed was lent by European and U.S. banks that, just last year, were themselves on the verge of collapse.

If the world needed a wake-up call that the world economy is not out of the woods yet, this would be it.

Stock prices took a big hit yesterday and today, the dollar is up – all signs that investors are concerned with what is happening in the tiny emirate.

Will this force Dubai to rely on its more conservative and financially stable neighbor, Abu Dhabi? How will this impact Dubai as a financial center for the region?

We are covering all angles at the IDesk and don't forget to vote in our poll below.

Also among our lead stories, we will take you to Germany and to Kandahar for more on the continuing fallout from a September airstirke in Afghanistan.

Now a government minister has resigned over allegations that a German commander ordered a hit on fuel tankers, knowing that civilians may have been at risk.

PLus, we have all the latest developing news stories from around the world, as always, including news from the ATP Men's final.

See you at the IDesk!


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halozcel   November 28th, 2009 7:52 am ET

Bedouin Lehmen Brothers ? or
Maktum Brothers/Dollarwasters.

Although it is Too Early to say this,Dubai/Fake Paradise may be Second Lehmen Brothers Tragedy which causes A New Global Fiscal and Economic Meltdown.
Dubai and other Gulf Countries should be spoken and discussed.

Life in Dubai/Alice in Wonderland;

Native Dubaimen,such as other Bedouins,dont work and dont like to work.Everything and All Works are fulfilled by Sub-Continenters and Westerners.Bedouin is only spending money.
Third class Natashas gratify Randy Bedouins and turn corner within six months.

Bedouin Brothers are keen on Horse Races and Camel Races.
Because of insufferable hot under Desert Sun,Horse and Camel Races are held at night under spotlights in Fake Heaven.They dont understand from Horses indeed,English Shrewders sell Second and Third class Mares as Quality Horse.

Fake Paradise is not as it seems.When Oil-Dollars run out,Harsh Social Disturbance may appear in whole area.Everyone ought to be careful.
**Maafi Floos Yaa Habibi**

Muthyavan.   November 29th, 2009 4:41 pm ET

Dubai debt crisis is suddenly demonstrating how bad a financial crisis in a small country in middle east is stirring the progress of world economic recovery. Middle East grip on world oil and gas supply for the last forty years is fast loosing ground to new oil and gas supply from Russia,Canada,Norway and off shore supply from UK.

This drastic change of oil and gas market has created a major employment loss in Middle East sending home millions of Asian workers employed for long time in many middle East oil rich countries. Not only Dubai many cities in the region has reduced all their developments reducing all constructions and sending home all foreign workers, creating a wave of economic crisis in many Asian nation.

The political and military fall out in Germany as a result of the September air strike which killed many civilian in Afghanistan was pree planned trap by the Taliban who successfully hijacked oil browsers and took to a civilian populated area and allowed civilian to collect sort supplied oil free expecting air strike. It was a terrible mistake to order air strike specially on oil browsers when people are around it.

halozcel   November 30th, 2009 6:57 am ET

Good News for Dubai.
The United Arab Emirates decided to shore up Banks(liquidity facility) and eased Credit for Lenders.
Asian shares bounce back,Nikkei and Hang Seng up almost 3 percent(at this moment).
American Futures in Green Territory and the most important,EUR/USD parity is 1.51(it jumped 2 cents).Oil is a little higher and Gold a little lower than Friday Close.
NYSE may surge/soar today,Monday,but,investors may appreciate the news about Black Friday Shopping as well,the latest data shows "more crowd,but,less spending"(new numbers can come later)
Markets depent on News and change steeply at any time.Sentiment is important too.
Briefly,it seems *Danger passed* for the present,but,everyone should be careful in all circumstances.
Watch Reporter/Anchor Alison Kosik on CNN to learn more.

halozcel   November 30th, 2009 9:22 am ET

Dear Readers,

Sharp Swing/Fluctuation.Sentiment is changing so fast.
DFM General(UAE stock) is down 7-8 percent.Markets seem not to be satisfied,Confidence couldnt be provided.
Is this Bedouin Cheating(UAE Central Bank announce) or anything else ??
Big European stocks opened higher,but,all turned into negative territories and nobody predicts what happens two hours later.The positive air in Asia didnt impact Europe.Besides,the Questions on Greece and Ireland external Debt risen among Investors.
Investors need more Satisfaction News in Detail on Dubai Debt.
Investors weigh what is going on in UAE and Global Debt Positions.
Is Honeymoon ending ?

halozcel   November 30th, 2009 11:30 am ET

Breaking News.....

Shock News.....

Sheikh said *Dubai World Debt is not guaranteed by Government*

Flat US futures tumbled into Red after the announcement.

helmyelsaid   November 30th, 2009 12:41 pm ET

I HOPE DUBAI ECONOMY TO RETRY FROM THIS ECONOMIC CRISIS,AND I need to know why p.obama,un organization refuse my refugee,legal help request,as I HAD EXPLAIN AT MY,where I NEED TO TAKE LEGAL ACTS AGAINST EGYPTIAN REGIME,VODAFONE COMPANY ATusa courts,international courts

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