Mar 10, 2010 - Dubai seeks delay in paying creditorss

"Analysts agree the move was necessary, but warn it could bring further pressure on the government. Kamel Wazne, economist analyst of American Univ. of Beirut,said, ""I think Dubai needs to finance its deficit through selling bonds and that's actually what it's doing right now. But this in the future might put some burden in the government if it accelerates its debt."" To compensate for its lack of oil wealth, Dubai relies mostly on trade, finance and tourism. The over-dependence on foreign capital and large-scale projects have curbed its...