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Dubai World - a state-owned investment company that manages a wide range of business projects for the city- has played a leading role in making Dubai a major financial hub.
The company borrowed heavily over the years to fund its operations.
Last year - the firm sent widespread shockwaves when it said it would not be able to repay its debt. It currently owes $26bn.
However, Dubai's government has now announced details of a plan to help save the company from bankruptcy.
Dan Nolan reports from Dubai.
[March 25, 210]