By  on February 25, 2009

MILAN — Dubai’s pressing real estate and financing troubles are causing delays in many Italian fashion houses’ projects throughout the city, among the woes of the struggling emirate.

To help ease the financial strain, the Dubai government this week launched a $20 billion long-term bond program. The Central Bank of the United Arab Emirates bought the first issuance, amounting to $10 billion, according to an official Dubai statement.

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