The Ministry of National Defense (MND) yesterday confirmed media reports that it plans to purchase coastal defense cruise missile (CDCM) systems from the US, saying that they could be delivered by 2023, should Washington agree to sell.
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Investors recoiled from risky assets yesterday and dumped shares in Asian banks and builders, fearing a Dubai debt default could reignite the financial turmoil of the credit crisis. Stocks from Tokyo to Mumbai were haunted by suspicion of lenders’ exposure to Dubai firms that built islands in the Gulf, planned cities from Pakistan to Africa and fashioned the financial hub of the world’s biggest oil exporting region. |