Dubai

[LenaHuat]

This is only the visible underbelly in all the Gulf states. Look at the 'slaves' in the households

[winston]

Dubai got US$10b from Abu Dhabi! And you are supposed to be buying on this news ?

What a way to get some visibility. No need to adverize on CNBC like some other Financial Centres

[millionairemind]

Dubai got US$10b from Abu Dhabi! And you are supposed to be buying on this news ?

What a way to get some visibility. No need to adverize on CNBC like some other Financial Centres

This piece of news made the Asian stock futures and US futures do an about turn, from -ve this morning to quite positive.

[winston]

On CNBC:-

The bankers are saying that Dubai's problems will come next year.

[mojo_]

Dubai got US$10b from Abu Dhabi!

Could this 10B have come from the profit Abu Dhabi made on the puts it bought just before Dubai announced it's debt moratorium?

This piece of news made the Asian stock futures and US futures do an about turn, from -ve this morning to quite positive.

Did Abu Dhabi buy calls just before this piece of news was announced? To generate profits for the remainder 50B Dubai needs to pay off it's creditors..

Are the markets paying for Dubai's excesses in the end?

[kennynah]

Are the markets paying for Dubai's excesses in the end?


to be more specific, the losers in the markets are the ones who paid the $10bil, if indeed what imagined is true..

[millionairemind]

Dubai May Need More Help to Repay Debt After Abu Dhabi Bailout

By Arif Sharif and Laura Cochrane

Dec. 15 (Bloomberg) -- Dubai, the recipient yesterday of a $10 billion bailout from Abu Dhabi, has yet to convince investors it will meet all of its obligations.

Debt from Dubai state-controlled entities DP World Ltd., Dubai Commercial Operations Group LLC and Nakheel PJSC remains as much as 29 percent lower than before the emirate said on Nov. 25 it was seeking a “standstill” from creditors. Standard & Poor’s said it won’t automatically reverse downgrades made to ratings on state entities since the announcement.

Dubai’s cash needs are “not going to stop and go away,” said John Sfakianakis, chief economist at Banque Saudi Fransi in Riyadh. “There is still debt that needs to be settled in 2010 and 2011.”
http://www.bloomberg.com/apps/news?pid= ... zpUQ&pos=1

[kennynah]

they bought Put but was a bit too late...

[millionairemind]

Dubai Has Longest Losing Streak Since March on Debt Concern
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By Zahra Hankir

Jan. 17 (Bloomberg) -- Dubai’s index dropped for a sixth day, the longest losing streak since March, on concern that Dubai World may have trouble restructuring its debt and in anticipation of fourth-quarter earnings.

Emaar Properties PJSC, the United Arab Emirates’ biggest developer, and Dubai Financial Market, the only Gulf Arab stock market to sell shares to the public, slid to their lowest levels in more than a month. Al-Rajhi Bank, Saudi Arabia’s largest lender, dropped for the first time in three days after fourth- quarter earnings fell short of analysts’ expectations. The DFM General Index retreated 1.3 percent to 1,685.30 at 12:31 p.m. in Dubai. Abu Dhabi’s gauge lost 0.8 percent and Qatar DSM 20 Index declined 2.1 percent to 6,707.75, the lowest level since Dec. 2.
http://www.bloomberg.com/apps/news?pid= ... qk6U&pos=4

[winston]

*DJ Borse Dubai Faces $2.5B Bank Loan Maturing By Feb 19-Sources