Dubai’s debt crisis

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

Download MP3
What’s behind the fall of Dubai World? Some say Dubai’s Islamic banks may have abandoned their principles for Western-style investing. The World’s Aaron Schachter explains.

Dubai repercussions

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

The government in Dubai has confirmed that it will not guarantee the debt of the state-controled investment company, Dubai World. This has led to sharp falls on the Dubai and Abu Dhabi stock markets. But the problems in Dubai and Abu Dhabi could have long-term repercussions in parts of Europe and the developing world. The World’s Jason Margolis has more. Download MP3

• BBC coverage
• Global Economy podcast
• Alex Gallafent on the Dubai crisis

Dubai in trouble

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

Shares at Wall Street fell on worries about Dubai’s debt problems, with the Dow Jones ending down 154 points on Friday. It was the US markets’ first chance to react to news that state-owned Dubai World had asked for more time to repay its debts. American markets were closed for Thanksgiving when other world markets all suffered steep losses. Alex Gallafent reports. Download MP3(Photo credit: Karim Sahib/AFP/Getty Images)

• BBC coverage
• Global Economy podcast
• The World’s Alex Gallafent reported from Dubai in 2007