Dubai, hit hard by virus, returns to global financial market

Dubai, hit hard by virus, returns to global financial market

DUBAI, United Arab Emirates – Dubai is tapping the global financial market to potentially raise billions of dollars for the first time in years, a new bond prospectus shows, revealing the deepening toll of the coronavirus pandemic on its economy. From long-haul carrier Emirates to its delayed Expo 2020, the city-state in the United Arab Emirates is scrambling to secure its financial position and take advantage of record-low interest rates. Already, the UAE’s oil-rich capital of Abu Dhabi has raised billions the same way. But old debts and other worries still cloud Dubai’s future as it struggles with the […]

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