Hard times: Dubai World, developer of Atlantis Hotel and The Palm, is struggling with its debts

Abu Dhabi, Dubai's oil-rich neighbour in the United Arab Emirates, is to bail out the emirate with $10bn to enable it to meet its immediate debt obligations and allow the payment of a $4.1bn sukuk bond related to Dubai World's real estate subsidiary, Nakheel. Dubai's government said that the remaining capital would be used to pay interest, contractors, suppliers and operating costs until the company reaches agreement with its creditors on the remaining portion of Dubai World's $26bn debt. Abu Dhabi has contributed more than $25bn in capital injections to Dubai this year.