DUBAI, United Arab Emirates (AP) - A real estate and hotel group owned by Dubai's ruler announced a steep loss for 2009 on Tuesday, less than a week after a sister company sought to delay its debt payments.
The slide by Dubai Holding Commercial Operations Group includes major write-offs that reflect the slumping property market in Dubai, where the global downturn has cooled the city-state's once red-hot growth and left many of its companies mired in debt.
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