After the announcement of Dubai's financial crisis, Reuters is reporting that Abu Dhabi, wealthy capital of the United Arab Emirates, will "pick and choose" how to assist debt-laden neighbor Dubai, a senior official said on Saturday, after fears of a Dubai default sent global markets reeling.
Dubai's crisis exploded on Wednesday when the emirate, known for flashy lifestyles and building the world's tallest building, said it would delay payment on debt issued by one of its flagship firms, angering investors and sending global markets sharply lower.
Even Jamie Dimon Is Suddenly Blunt About Possible Recession
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JPMorgan's Jamie Dimon told shareholders Trump's tariffs threaten to raise
prices, drive the global economy into a downturn and weaken America’s
standing...
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