Dubai recovery Long dusty road to recovery

Dubai was emblematic of the excesses of the boom. Yet at a time when people in the West are talking about the “green shoots” of recovery, the once-glossy playground of the United Arab Emirates remains barren of clear turnaround signs. Humbled Dubai is still resolving its gargantuan debt issues. The resource-scarce emirate only publicly began to confront its financial problems last November, when it revealed that its sovereign debt and that of government affiliated companies amounted to $80bn – ...