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UAE stocks seen surging if Dubai government backs debt plan (Reuters) »
, with markets poised to rally if the deal includes guarantees, analysts said.
's index has been resurgent, gaining 12.8 percent in 12 trading days, as investors bet a restructuring deal would be more favorable to creditors than once thought, but it is down 15.2 percent since November 25, the day
said it would seek [...]
UAE stocks seen surging if Dubai government backs debt plan »
(Reuters) – Dubai’s debt restructuring proposal will determine the fate of UAE equity markets as the ailing emirate seeks support from Abu Dhabi, with markets poised to rally if the deal includes guarantees, analysts said.
Dubai’s index has been resurgent, gaining 12.8 percent in 12 trading days, as investors bet a restructuring deal would be [...]
Dubai’s Shuaa Capital narrows Q4 loss to $42 million »
Dubai’s Shuaa Capital SHUA.DU narrowed its net loss 73 percent in the fourth quarter, as the investment bank’s brokerage and private equity operations returned to profit and its corporate division curbed losses.
The investment bank said in a statement that it cut its fourth-quarter net loss to 154.3 million dirhams ($42.02 million) from a loss [...]
On the wires: Dubai home prices fall 52% on foreclosures in past year. »
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Dubai financial market bids for Nasdaq Dubai (AFP) »
, Dubai's principal stock exchange, announced on Tuesday that it has offered 121
, the emirate's second market.
Through such a deal, Dubai would “achieve its goal of creating a powerful capital markets hub for the Gulf Cooperation Council (GCC) and the wider Middle East,” Jeff Singer, chief executive of Nasdaq Dubai, said on DFM's [...]
Dubai World to meet creditors, offer no proposal »
Dubai World meets creditors, offers no proposal
DUBAI (Reuters) – State-owned Dubai World did not ask creditors for a standstill on its $22 billion debt at a meeting on Monday, adding to uncertainty for investors who have been in the dark for weeks and hurting local bank shares.
Dubai’s flagship conglomerate met around 90 of [...]
Dubai World poised to press for loan extensions »
DUBAI (Reuters) – Debt-ridden conglomerate Dubai World is expected on Monday to ask key creditors for more time to pay off its loans, but leave them none the wiser concerning their prospects of being paid back in full.
Saddled with a $22 billion debt pile and in need of restructuring, the Gulf Arab emirate’s flagship [...]
Aussie Dollar Up On Renewed Dubai Optimism »
After trading near $0.90 intheend ofthelast week astheU.S. dollar rose against its Australian counterpart, theAussie, pushed byrenewed risk appetite, managed toclimb significantly not only versus thegreenback but also
currencies.
currencies inthePacific region rose today after Abu Dhabi central bank affirmed that it will provide asum of$10 billion toits brother emirate Dubai topays its debts partially, [...]
Euro Rebounds on Abu Dhabi-Dubai Bail Out Plan »
After falling consistently versus thegreenback intheend ofthelast week, theEuro posted atimid rebound andalso gained versus several
currencies, asconcerns regarding Dubai’s debt eased after Abu Dhabi announced arescue plan forits brother emirate.
Theeuro benefited today onanAbu Dhabi announcement stating that $10 billion will be used tohelp Dubai tocope with its debts, paying creditors andcontractors, calming down [...]
South African Rand Remains Bullish on Dubai Optimism »
TheSouth African rand extended gains from last week asconcerns regarding Dubai’s debt declined today, providing support forrisk fueled traders topurchase assets inemergent markets andcommodity linked countries like South Africa.
After theAbu Dhabi financial authority bailed out Dubai with $10 billion, concerns that amajor debt disaster involving European banks cooled down today, allowing risk appetite togrow [...]