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Dubai World debt ‘not guaranteed’ by government

Posted on 01 December 2009

From Gulf-daily-news.com: Dubai’s government yesterday said it was not responsible for the debts of its flagship conglomerate, offering little clarity on a plan to delay billions in debt repayments that has rattled world markets.

Dubai last week raised fears of a second bout of global financial turmoil by asking for a six-month repayment freeze on debt issued by Dubai World and its unit Nakheel…………………………….Full Article: Source

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