Existing users please login

Forgot Password

    Home / Markets / Industries / Finance

    Saturday, November 28, 2009

    U.A.E. Central Bank May Guarantee Dubai World Debt

    | Respond to Editor | Print

     
    By Greg Robb
    MarketWatch Pulse
       

      WASHINGTON -- The Central Bank of the United Arab Emirates may step in and guarantee the $59 billion in debt of Dubai World, the investment arm of Dubai, according to a report by Zawya Dow Jones on Saturday. The report, citing persons familiar with the matter, said the measure would allow local U.A.E. banks exposed to Dubai World to avoid taking provisions. Dubai World's largest creditors are domestic banks in Dubai and Abu Dhabi, the U.A.E.'s richest state. Earlier this week, Dubai requested that Dubai World be allowed to skip six months of interest payments.

      Copyright © 2009 MarketWatch, Inc.

      Fox Business Video


      Last 5 Stocks

      • Ticker
      • Company
      • Price
      • Change
       

      Personal Finance - Investing - Financial News - Business News - Stock Market Quotes & News - Small Business

      Advertise with us | Jobs at FOX Business Network | Internships at FBN

      Terms of use. Privacy Statement. For FOXBusiness.com technical issues write to foxbusinessonline@foxbusiness.com; for all other feedback, write to feedback@foxbusiness.com.

      Quotes delayed at least 15 minutes. Market Data provided by Interactive Data (Terms & Conditions). Powered and implemented by Interactive Data Managed Solutions. Company fundamental data provided by Morningstar. Earnings estimates data provided by Zacks. Mutual fund data provided by Lipper. Economic data provided by Econoday. Dow Jones & Company Terms & Conditions.

      This material may not be published, broadcast, rewritten, or redistributed. ©2010 FOX News Network, LLC. All rights reserved.