Dubai Gets Tough on Corruption
In the wake of last month's announcement that Dubai's state-owned real estate investment company was essentially broke and unable to repay $26 billion in debt, the emirate clearly needs to get its financial house in order. But another development may be even more important: the Dubai Government's announcement yesterday of a new "zero tolerance" anti-graft law that aims to combat a culture of corruption so widespread that last September a special task force was convened to investigate fraud in several state-backed companies.
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