A consortium of Japanese engineering companies building the Dubai Metro mass transit system is to embark on a “work slowdown” from today over delayed payments from the Dubai Government.Remember, Dubai will be marked down 90% when it's all over. Meanwhile, rumor has it that China is Dubai x1000. Maybe 2010 is a good hunkerin'-down time? Just saying.
The dispute follows official admissions in Tokyo last month that Japanese companies outside the financial sector are cumulatively owed about $7.5 billion by the government of Dubai and a variety of state-affiliated businesses.
Saturday, January 9, 2010
Dubai stiffs Japan
Uh oh. Who could have seen this coming?