» 02/25/2008, 00.00
UNITED ARAB EMIRATES
Dubai: workers get six months in jail and expulsion for “illegal” strike
A Dubai court sentences 45 Indian labourers to six months in jail followed by expulsion after workers protested last year for better working conditions.
30/10/2007 UNITED ARAB EMIRATES
4 thousand striking workers expelled from Dubai
Abstention from work is forbidden in the country. The demonstrators demanding better treatment are mainly immigrant workers from India, Pakistan and Bangladesh, involved in the building of the world’s tallest building.
25/03/2010 UNITED ARAB EMIRATES
Dubai govt to inject US$ 9.5 billion to reduce Dubai World and Nakheel debt
New funds come partly from Abu Dhabi. Debt restructuring will leave creditors waiting seven to eight years before getting their money back. News boosts Dubai stock exchange, up 4.3 per cent.
27/11/2009 UNITED ARAB EMIRATES
Emir of Abu Dhabi to buy Dubai for US$ 80 billion
The Abu Dhabi Commercial Bank and Emirate NBD are among Dubai’s main creditors. A global recession deflates debt-ridden emirate’s real estate market.
17/12/2009 UNITED ARAB EMIRATES
Abu Dhabi’s sway over Dubai increasing at Tehran's expense
The first plan to rescue the debt-ridden emirate is proving insufficient for many investors, but it is bringing Abu Dhabi back into the fold of the emirate federation. It is also increasing the distance with Iran, which hitherto used Dubai as a trans-shipment point to break the embargo and export its goods.
24/02/2009 UNITED ARAB EMIRATES
Dubai exchange rallies after a 20-billion-dollar long-term bond programme is announced
The measure, first of its kind, will enable the emirate to raise the necessary liquidity to meet its financial obligations. Dubai has no oil and must rely on its real estate and financial sectors to develop; both have recently suffered huge losses.
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