06.10.2008 - Dubai backs proposed tie-up of two big mortgage lenders
From WSJ: The government here blessed the proposed merger of two big home lenders and said a government-backed fund would start investing in domestic real estate, moves that could shore up a suddenly vulnerable property market. Amid super-high oil prices, the petroleum-rich states of the Persian Gulf have enjoyed a spending and investment binge in recent years. With little oil of its own, Dubai has positioned itself as a tourism, business and financial hub, spearheading a host of high-profile real-estate developments..... Full Article: Source