Says it's not responsible for state-owned company's debt
(NEWSER) - Dubai’s government threw investors a curve ball today, saying that even though struggling Dubai World is state owned, the government won’t guarantee its debts or bail it out. Lenders “have deemed Dubai World as part of the government, and this is not true,” Dubai’s finance director said on TV. “The government is the owner of the company, but since its foundation, it was established that the company is not guaranteed by the government.” More»
