Sorry to have to correct you, but GMR's partners, The Royal Group are not based in Dubai; they are based in Abu Dhabi.
Abu Dhabi is a fabulously wealthy oil-producing nation, who's Royal Family have been generously bankrolling GMR.
Dubai on the other hand is an empty patch of desert that has no oil whatsoever, and which has therefore been trying to build itself a future through a debt funded real-estate investment and constructon bubble.
Abu Dhabi remains untouched by the global financial crisis. But Dubai is in serious trouble. I wouldn't worry about GMR then; I'd worry about Leighton.
An easy mistake to make. Both are members of the United Arab Emirates, and I had to stop and check myself when the story initially broke.
dubai world, page-2
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