Property developer Nakheel was behind the palm-shaped Palm Jumeirah island in DubaiDubai In Deep Water As Ripples From Debt Crisis Spread
Fears of a dangerous new phase in the economic crisis swept around the globe yesterday as traders responded to the shock announcement that a debt-laden Dubai state corporation was unable to meet its interest bill.
Shares plunged, weak currencies were battered and more than £14 billion was wiped from the value of British banks on fears that they would be left nursing new losses.
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MIDDLE EAST
Iraqis reach tentative compromise on amended election measure.
IAEA votes to censure Iran.
Report: Lebanon says Hezbollah has right to fight Israel.
Iran seizes rights lawyer's Nobel Peace medal.
ASIA
100 suspects sought for Philippines massacre.
Karzai reaches out to Afghan Taliban on holiday.
China vows to cut greenhouse gas emissions 40% by 2020.
AFRICA
UN helicopter attacked in Congo; 4 wounded.
Poverty could imperil the amnesty in Niger Delta.
Kenyans draw weapons over shrinking resources.
EUROPE
German military's inspector general removed.
Irish Catholic Church covered up abuse, report finds.
Berlusconi’s wife may seek divorce payment higher than Diana’s.
AMERICAS
Cuba conducts war games with U.S. invasion in mind.
Drug lords finding safe haven in Bolivia.
Honduras to vote for new president amid coup crisis.
TERRORISM/THE LONG WAR
Western terrorism recruits in Somalia.
Pakistan captures wanted South Waziristan Taliban commander.
Enabling the next Fort Hood?
ECONOMY/FINANCE/BUSINESS
China, gold, and the civilization shift.
Lending declines as bank jitters persist.
U.S. shoppers pack stores as holiday season revs up.
US online ad revenue down 5.4 pct in third quarter.
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