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Dubai’s $10bln bailout from Abu Dhabi shrinks

Posted on 19 January 2010

From Zawya Dow Jones: Dubai’s $10 billion bailout from oil-rich Abu Dhabi, which helped it narrowly avoid a default in December, is half the size that the government initially said raising concerns amongst analysts over the opacity of its economic figures.

The funding, initially described as coming directly from the Government of Abu Dhabi, included $5 billion previously pumped into the debt-laden emirate a month earlier by Al Hilal Bank and National Bank of Abu Dhabi (NBAD.AD), a spokeswoman for Dubai government said…………………………………Full Article: Source

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