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FT.com / UK / Politics & policy - UAE groups fail to pay bills
Lord Mandelson has raised concerns about the failure of developers in the United Arab Emirates to pay British contractors, and has sought reassurances from local rulers that financial commitments will be honoured.

The UAE, particularly Dubai, has been hit hard by the global financial crisis, and some contractors and consultants have complained that they have not been paid for up to six months. Government-linked developers dominate the UAE's property sector, and cash-strapped Dubai-affiliated companies are thought to owe billions of dollars.



"Dieu se rit des hommes qui se plaignent des conséquences alors qu'ils en chérissent les causes" Jacques-Bénigne Bossuet
by Melanchthon on Fri Apr 10th, 2009 at 11:20:33 AM EST
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Mandelson is a beached whale, still arguing for a Reagan world long after the poor man has been dead and discredited. His tide has gone and his words are lost in the jetsam.

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Fri Apr 10th, 2009 at 07:34:34 PM EST
[ Parent ]
A 4 for the poetry.

I feel like registering under a new name so I can also give a 4 for pointing out the despicable Reagan connection.

Never underestimate their intelligence, always underestimate their knowledge.

Frank Delaney ~ Ireland

by siegestate (siegestate or beyondwarispeace.com) on Sat Apr 11th, 2009 at 04:32:14 AM EST
[ Parent ]

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