Dubai, an oasis in the Persian Gulf, has woken up to a debt crisis of its state-owned investment flagship Dubai World.

Questions are raised: Will the crisis hamper the world economic recovery and spill over to the global financial sector? will it trigger another economic meltdown? The latest development of the crisis is as follows:

News:

• Embattled Dubai fulfils tallest order

• Houses built on sand burn Chinese investors

• Expert: Dubai-style crash unlikely in China

• A lesson from the Dubai crisis

• Dubai whack for Wenzhou merchants

• Sands China caught in Dubai turbulence

• Dubai debt meltdown has limited influence on China

• Dubai debt crisis sounds new alarm for tightening risk management

• China indices likely to shrug off Dubai debt woes

• Dubai debt meltdown, another financial crisis?

• China State Construction says not exposed to Dubai debt crisis

• China banks: no holding of Dubai World bonds

• Dollar rebounds at end of week amid Dubai debt crisis

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