From Business-standard.com: Amid a pall of gloom over millions of families across India– dependent on regular remittances from the Middle East– after Dubai World’s repayment crisis, businessmen and analysts on the ground find the world was over-reacting and worries perhaps unfounded.
“It may have been headline material but it was 48 hours too late,” says a Dubai World official on condition of anonymity. According to him, for all practical purposes this was debt payment delay and not a default as it is being made out to be…………………………..Full Article: Source