| 01.12.2009 - Gulf state turns its back on Dubai World's $59bln debt |
| From Independent: The Dubai government will not guarantee the liabilities of its precariously indebted Dubai World holding company, leaving creditors to face "short-term pain" that could run into the billions of dollars. Last week's request for a six-month standstill agreement on a $3.5bn (£2.1bn) tranche of Dubai World's $59bn debt sent shockwaves through world stock markets..................................Full Article: Source |