From Zawya.com: Almost a year ago, the emirate of Dubai was written off the books by some media. When real estate developer Nakheel found itself unable to pay off a US$3.52 billion Islamic bond (Sukuk) in November 2009, the sheikhdom suddenly was declared a place where dreams had turned to dust. Only a last -minute US$10 billon credit guarantee from neighboring emirate Abu Dhabi saved Dubai from defaulting.
It might be too early to declare victory, but September 2010 definitely marks - at the very least - a much needed stabilization for Dubai……………………………………….Full Article: Source