Dubai's ruler says the worst is over and he views the global recession as a challenge
The worst is over and Dubai is looking for new opportunities for growth, said His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
He said he views the global recession as a challenge and that firms are restructuring in response.
"I don't call it a recession, I call it challenge. The companies are restructuring because it's a new world. You have to stop and restructure".
On Dubai World, he told CNN: "I am not worried about the company; they have the wealth and they will go back to shining very, very soon".
Dubai is home to the region's largest airport, largest airline and largest trade port. In the past two decades, Dubai has created a name for itself.
