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Dubai has insufficient funds to support companies - S&P

Posted on 12 October 2009

From Zawya Dow Jones: Dubai needs to raise another $10 billion for its economic support fund as it has insufficient capital to prop up its struggling government-related companies, according to a leading analyst at Standard & Poor’s.

“Dubai has about $4 billion to support government-related entities,” Farouk Soussa, head of Middle East government ratings at S&P, told delegates Sunday at a Dubai International Financial Centre economic conference. “From our point of view, that’s insufficient.”…………………Full Article: Source

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