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Plan unveiled to save Dubai World

6 years ago103 views

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]

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