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Dubai's leader tries to calm panicky investors

Published: December 1, 2009 10:34 AM
By The Associated Press  BARBARA SURK (Associated Press Writer)

Quick ReadDubai's leader tries to calm panicky investors over a major company's inability to pay debts

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DUBAI, United Arab Emirates (AP) — Dubai's leader tried to calm panicky investors Tuesday as regional markets tumbled for a second day on news that the city-state's chief conglomerate needs to delay payments on its $60 billion debt for six months.

Government-owned investment company Dubai World — the United Arab Emirates' main engine of growth — gave anxious investors the first bit of clarity...

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