A leading Chinese financial group is in advanced preparations to launch a Dubai-focused investment fund, highlighting global interest in a rebound in Gulf economies.
Dubai said last November it would call a standstill on billions of dollars in debts, prompting a second bail-out loan of $10bn from oil-rich Abu Dhabi to prevent a damaging default.
The crisis of confidence surrounding the city's $100bn-plus debt pile capped a year of deep recession as the overheated real estate sector finally crashed.
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