The United Arab Emirates' top officials looked Tuesday to allay concern over Dubai World's $60 billion debt-load, stressing the strength of Dubai and the UAE's economies even as regional markets tumbled for a second day. Dubai's ruler, Sheikh Mohammed Bin Rashid Al Maktoum told the Al-Arabiya satellite channel that his emirate's economy was “strong” and “solid.” The comments were his first public statement about Dubai World since his government announced Wednesday that the conglomerate was restructuring and wanted a six-month minimum delay in its debt payments. Al-Maktoum attributed the reaction in the market to the news of Dubai World's restructuring as an indication of “a lack of understanding about what is happening in Dubai.” Earlier, the UAE's president, was quoted by WAM, as saying that the country's economy was healthy. – AP (See Business Page Today for more) __
