Pontiff says an increase in foreign aid could help stem the flow of refugees and migrants seeking to enter Europe
There are lot less tourists for the annual shopping festival. Many have laid off employees. It is true that residents have tightened their belts too. But all this is because
The gloomy scenario is hardly exclusive to
It may partly be because of its debt and partly because for long, Dubai kept defying conventional wisdom of debt-driven growth, from building Port Rashid to Jebel Ali. With little natural resources and dwindling oil revenue, growth funded by debt was the only option for
Over the past decade,
The emirate has become a barometer of international trade and liquidity. As the gloom deepens around the world, this might be indeed a great opportunity for
The roads, ports, flyovers, metro systems will come in handy when the trade winds again become favourable, if the emirate makes some short-term sacrifices to secure its long-term future.
aruna@khaleejtimes.com
Pontiff says an increase in foreign aid could help stem the flow of refugees and migrants seeking to enter Europe
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