It has shaken the world. Yesterday the news of financial trouble in Dubai had ripple effect. There is not index which has not lost some of its numbers. Dubai is supposed to be the financial hub and an example of crash-proof economy. But the recent development proved that analysts were wrong in their assessment. It will have further effect on jobs other sectors. Realty and banking sectors are worst hit. Multinational banks which are directly or indirectly related to the crisis are seeing major numbers down. It is all about over-borrowing and having the huge sum in debts. An empire needs money to survive but the money is what needs to be paid back to the lenders. This news is not music to ears. It has renewed the fears that worst is not over yet. It will be worth to watch the developments in near future. Banks need to check the facts before having another setback and that too from Dubai.news
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It has shaken the world. Yesterday the news of financial trouble in Dubai had ripple effect. There is not index which has not lost some of its numbers. Dubai is supposed to be the financial hub and an example of crash-proof economy. But the recent development proved that analysts were wrong in their assessment. It will have further effect on jobs other sectors. Realty and banking sectors are worst hit. Multinational banks which are directly or indirectly related to the crisis are seeing major numbers down. It is all about over-borrowing and having the huge sum in debts. An empire needs money to survive but the money is what needs to be paid back to the lenders. This news is not music to ears. It has renewed the fears that worst is not over yet. It will be worth to watch the developments in near future. Banks need to check the facts before having another setback and that too from Dubai.