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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.
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.
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
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