Dubai’s rulers have lost patience with suggestions that all is not well with the emirate’s finances, or that relations with Abu Dhabi are strained.
As the FT reported on Monday, Dubai’s Sheikh is having none of it:
During a speech to investors, Sheikh Mohammed bin Rashid Al Maktoum turned from Arabic to English to deliver a strong reassertion of national unity, saying: “To the people who nag about Dubai and Abu Dhabi, shut up!”
“The second tranche of the bond programme will be well received and it will be used to meet current and future obligations,” the ruler, who is also prime minister of the UAE, said in Monday’s speech.
Touchy – but then again, the Sheikh has tended to be more fond of horses than people.
Related links:
Moody’s downgrades Dubai companies – FT
Dubai signals a rocky recovery – FT
Do buy Dubai (and Saudi too), Merrill says – FT Alphaville