They think Dubai World is part of the government, which is not correct.

It did not mention Dubai World, which is $59 billion in debt.

Embroiled in a legal wrangle, Dubai World refused to pay its share.

He also holds the majority stake in Dubai World.

Dubai World, the investment vehicle for the emirate, asked to delay for six months payment on $26 billion of debt.

Last week, the owners of Dubai World requested a six-month extension on paying off its debts.

Three weeks later, however, he was flown halfway around the world and won the $4 million Dubai World Cup.

The state-owned holding company, Dubai World, had liabilities of $60 billion.

The debt problem of Dubai World triggered mass speculations in the property market.

As a subsidiary of Dubai World, the company has been mentioned in numerous press reports related to the high debt levels of its parent.