Financial News: Dubai pledges steps to counter downturn

As the clouds of the financial crisis gather over Dubai, a government official said on Wednesday that the emirate would take strong measures to deal with the impact of the economic downturn.Nasser al-Shaikh, director-general of the department of finance, said the government was not in denial about the challenges it faced and had set up a committee during the past few weeks to explore ways of steering its way through the present crisis.