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Dubai World's debt freeze 'carefully planned' (AP)
Published at 27 November 2009, 08:40 GMT

Rising high among the towers in Business Bay, Burj Dubai, the world tallest tower, which is still under construction,  is scheduled to be open in January 2010 in Dubai, United Arab Emirates, Thursday, Nov. 26, 2009. In a brief statement Wednesday, Dubai's government said its main development engine, Dubai World, would ask creditors for a 'standstill',  and to delay maturity of its $60 billion debt until at least May 2010.(AP Photo/Kamran Jebreili)AP - A top Dubai finance official said the emirate fully expected fallout from its debt problems and assured foreign creditors that Dubai World's request to postpone payment on some of its $60 billion in debt was "carefully planned."


 
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