Economics

Dubai Inc. Debt Distress Emerges as a Risk for Corporate Sector

An empty highway leads towards the Burj Khalifa skyscraper, center, and other office buildings on the city skyline in Dubai.
Photographer: Christopher Pike/Bloomberg

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By Paul Abelsky

May 31, 2020 at 9:53 AM UTC

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Bank of America Corp. warned that “more corporate distress” is possible for some of the debt owed by Dubai government-related companies in case of a prolonged economic downturn.