I took this picture of the world's tallest building last January. It's back in the news today as the government backed companies building this building, the man-made islands and many other projects asked creditors to accept a six month freeze on payments.
With $80 billion at stake Dubai has already borrowed $10 billion with a promise of another $10 billion from oil rich Abu Dhabi, the capital of the Emirates. World markets were sent down.
I don't think it is a coincidence this announcement came at the start of a four day Muslim holiday and Thanksgiving in the US. This will give markets some time to digest how big (or hopefully not-so-big) news this is.
In the internal Emirati politics, it's clear Abu Dhabi isn't quite as willing to bail out Dubai as was previously believed.
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