Monday 30 November 2009

Central Bank of UAE to Guarantee Dubai World?

Rumors in market that an announcement will be made before the stock markets open in the UAE today.

Just a few hours from now.

Nothing on WAM so far.

Could last Thursday's announcement been a shrewd move by Dubai in the face of Abu Dhabi reluctance to step up for US$10 billion for the second tranche of the bond issue?

UPDATE:  No guarantee from the CB UAE or for that matter from the Emirate of Dubai.

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