Yearbook 2010
United Arab Emirates. According to
COUNTRYAAH, Dubai's Dubai leadership announced
in March a comprehensive debt restructuring plan that was
set to post $ 9.5 billion to the debt-laden conglomerate
Dubai World, which handled all of the emirate's heavy
investments. In September, the conglomerate announced an
agreement to restructure its debt to the equivalent of US $
24.9 billion. The settlement, which did not include the real
estate developer Nakheel, had been approved by 99 percent of
the creditors. Just a few days before the announcement,
Dubai State Government had suspended payments on a debt of
approximately US $ 555 million.
In May, a Syrian man was sentenced to life imprisonment
for leading a league that smuggled Moroccan women into the
Emirate of Abu Dhabi, abused them and forced them into
prostitution. Thirteen other men were also convicted of
involvement in the business.
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