Dubai shares lose ten percent in a week
Dubai’s economic woes continue.
Despite a 0.73 percent rally on Friday, Dubai’s main stock index lost over ten percent of its value in the last week closing at 1,472.82.
Emaar and Emirates NBD performed surprisingly well, but there were more losers than winners.
Dubai’s stock market is pretty much mirrored by Abu Dhabi’s.
See khaleejtimes.com for more details.
It’s easy to lose sight of the impact the economic downturn can have on individuals, so for a more personal insight into the situation, the BBC has an informative piece on how the bursting of the economic bubble is affecting immigrant labourers in Dubai.
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Its all falling apart for Dubai and the same goes for rest of the world. Its a complete free fall out there and the mayhem looks to have no ending in the short term.