Dubai World

Sheikh Ahmed bin Saeed Al Maktoum, head of the Emirates airline, is taking over as chairman of Dubai World as the company struggles to restructure. Dubai's government said today that Sheikh Ahmed will replace Sultan Ahmed bin Sulayem, who oversaw the construction of palm-shaped islands off the...

While the worst of the crisis may be past for the emirate, Dubai's financial troubles have highlighted some of the thorny issues underlying the Islamic world's integration with worldwide finance.

Dubai World, the state-owned conglomerate, reached a deal to restructure about $24.9 billion of liabilities. Dubai's government said that Dubai World reached an agreement with more than 99% of its creditors, Reuters reported. In a separate statement, Dubai World said it plans to close the...

.blogArtAd {display:none!important;} The Atlantis hotel, built on the man-made Palm Jumeirah island off the Dubai coast is shown. (AFP/Getty Images) Dubai World plans to sell off some of its most prized assets in order to raise as much as $19.4 billion to pay off creditors, Reuters reported....

The settlement everybody has been banking on still isn't a done deal, leaving investors with reason to be concerned that Dubai World's massive debt won't be repaid in a timely fashion. It has also led S&P to cut DP World's credit rating. The trouble isn't over yet.

The Dubai government says it will bail out the overstretched companies behind the emirate's ambitious real-estate developments. This is welcome relief for nervous markets and rattled creditors.

In Asia Monday, China's Shanghai Composite Index gained 1.7% to close at 3,303 and Hong Kong's Hang Seng Index added 0.8% to end the day at 22,086. In Japan, the Nikkei 225 Index was nearly unchanged, slipping 0.02% to 10,106. U.S. markets are also set to rise.News that neighboring emirate Abu...

Stocks fell Tuesday as worries about several world economies sent investors running to the safety of the U.S. dollar and Treasuries. Disappointing reports from key U.S. companies 3M Co. (MMM) and McDonald's (MCD) also increased fears that companies will be hard pressed to produce real profits next...

Another year? Maybe longer, says the chief economist with the Texas A&M Real Estate Center, before we even begin to see a recovery in the dismal commercial real estate market. Should be pretty obvious why: despite nonsense to the contrary, any talk of an economic recovery is still premature,...

After the world's experience with subprime lending, probably the worst call a prognosticator can make about a debt crisis is that it will remain "contained." So here goes nothing: Chances that the would-be deadbeats in Dubai will set off a series of defaults among emerging market countries seem...