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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