Dubai fund chief: Now is not the time to invest

DUBAI: The head of an investment company owned by Dubai's ruler says now is not the right time to invest more of the government-affiliated fund's money.

Sameer Al Ansari, executive chairman and chief executive of Dubai International Capital, said at a business leaders conference Sunday he believes the world is heading into ``a deep recession'' that could last two to three years.

He said the fund would be ``extremely conservative'' and not try to time the bottom of the market.

Ansari also said Dubai's debt load is manageable. Some analysts have raised concerns the emirate could have trouble paying back its loans should the economy worsen.