Dubai: World lacks understanding of debt crisis

People pass by a giant poster of Sheik Mohammed bin Rashid Al Maktoum, UAE Prime Minister and ruler of Dubai in Dubai, United Arab Emirates, Thursday, Nov. 26, 2009. In a brief statement Wednesday, Dubai's government said its main development engine, Dubai World, which is developing the world's tallest tower block, the Burj Dubai, 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 Photo/Kamran Jebreili)

December 1, 2009 7:03:25 AM PST
The United Arab Emirates' top officials looked Tuesday to allay concern over Dubai World's $60 billion debt-load, stressing the strength of Dubai and the UAE's economies even as regional markets tumbled for a second day.