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Dubai, home to the world's tallest tower and the biggest man-made islands, is in a financial crisis. The dream city, where lakhs of expat Indians make a living, is trying to salvage Dubai World, the emirate's flagship in the industrial world, which is struggling to pay back a $ 59 billion loan (around Rs 275,000 crore). Full Article

The Reserve Bank of India might change its bias towards softening interest rates into a more cautious outlook but is expected to keep key policy rates unchanged in the monetary policy review on Tuesday. At the same time, banking sources close to the development said the central bank could raise its growth target from 5-6 per cent [...] Full Article