United Arab Emirates

 On Thursday fears at the world markets that a Dubai debt default could reignite the financial turmoil of the credit crisis impacted European and Asian equities, lifting government bond prices and pulling the U.S. dollar off of recent lows as investors sought out safe havens.

"This an important reminder that the credit crisis is forgotten but not gone," Robert Rennie, strategist at Westpac Global Markets Group, said in a note.

 The United Arab Emirates is considered to be one of the richest countries throughout the world being one of the largest oil exporters that has the world's sixth largest oil reserves. This Muslim country has one of the most developed economies in the Middle East, ranking the thirty-sixth largest by nominal GDP. The UAE consists of seven states, termed emirates, which are Abu Dhabi, Dubai, Sharjah, Ajman, Umm al-Quwain, Ras al-Khaimah and Fujairah.