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Official: UAE can overcome challenges - ASHARQ AL-AWSAT English Archive
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DUBAI, United Arab Emirates (AP) – The United Arab Emirates’ economy minister says the country can overcome any upcoming challenges, voicing confidence in its future even as investors worry about Dubai’s crushing debt load.

The UAE’s official WAM news agency quoted Sultan Al Mansouri as saying Wednesday that the country’s economy is “built on a solid foundation able to withstand crisis and challenges, no matter how difficult.”

The comments come as Dubai World, the conglomerate behind some of Dubai’s most high profile investments and projects, is looking to restructure $26 billion of its $60 billion in debts.

Dubai World’s call to delay debt repayments shook international and regional markets, raising fears of a default that could indicate troubles ahead in other emerging markets.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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