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All is well that ends well.

All is well that ends well.

Old Dec 14th 2009, 3:48 am
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Default All is well that ends well.

* Dubai Government Debt Conference Call About To Start

Monday, Dec 14, 2009

(END) Dow Jones Newswires

14-12-09 0432GMT


* Dubai Govt Says To Start Talks With Contractors Over Debts

Monday, Dec 14, 2009

(END) Dow Jones Newswires

14-12-09 0439GMT


* Dubai Gvt Says Abu Dhabi $10 Bln Funding Has No Conditions

Monday, Dec 14, 2009

(END) Dow Jones Newswires

14-12-09 0440GMT


* Dubai Government Says More Debt Due Next Year

Monday, Dec 14, 2009

(END) Dow Jones Newswires

14-12-09 0441GMT


* Dubai Reorganization Law To Help Dubai World Restructure

Monday, Dec 14, 2009

(END) Dow Jones Newswires

14-12-09 0442GMT


* Dubai, Abu Dhabi Discuss All Options Including Asset Sales

Monday, Dec 14, 2009

(END) Dow Jones Newswires

14-12-09 0445GMT


* Abu Dhabi's $10 Billion Funding Is Unconditional For Dubai

Monday, Dec 14, 2009

(END) Dow Jones Newswires

14-12-09 0446GMT

***********

DUBAI (Zawya Dow Jones)--Dubai's government Monday said it has received $10 billion in financing from Abu Dhabi, which will pay part of the debt held by conglomerate Dubai World and its property unit Nakheel.

"As a first action for the new fund, the Government of Dubai has authorized $4.1 billion to be used to pay the sukuk obligations that are due today," the Dubai government said in an emailed statement.

The remainder of the funds will be used "for the satisfaction of obligations to existing trade creditors and contractors", it said.

Discussions with affected contractors will begin shortly.

Dubai said it will also introduce a reorganization law to ensure greater transparency and creditor protection. The law will be available if Dubai World and its subsidiaries be unable to achieve an acceptable restructuring of its remaining obligations, it said.

-By Stefania Bianchi, Dow Jones Newswires; +971 4 3644967; [email protected]

Copyright (c) 2009 Dow Jones & Co.

(END) Dow Jones Newswires
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Old Dec 14th 2009, 4:02 am
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Default Re: All is well that ends well.

so I guess that means that the stock markets will rise today in combination with the dollar weakening a little.
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Old Dec 14th 2009, 4:21 am
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Default Re: All is well that ends well.

Originally Posted by admon View Post
so I guess that means that the stock markets will rise today in combination with the dollar weakening a little.
I guess so. Although I'm not too sure what the effect it will have in the fx markets, it's not like AD printed this money like the Americans do. It would have been a hard transfer from reserves.
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Old Dec 14th 2009, 4:27 am
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Default Re: All is well that ends well.

Originally Posted by EmiratesMillhouse View Post
I guess so. Although I'm not too sure what the effect it will have in the fx markets, it's not like AD printed this money like the Americans do. It would have been a hard transfer from reserves.
Is it too late to buy the Dubai World notes at the distressed rate?

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Old Dec 14th 2009, 4:55 am
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Default Re: All is well that ends well.

Originally Posted by EmiratesMillhouse View Post
I guess so. Although I'm not too sure what the effect it will have in the fx markets, it's not like AD printed this money like the Americans do. It would have been a hard transfer from reserves.
So, Dubai gets 10bn.. What did AD get in return????
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Old Dec 14th 2009, 4:59 am
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Default Re: All is well that ends well.

Also heard a rumour (unsubstantiated, I hasten to add) that, following a Central Bank meeting last week over the amount of money pouring out of local banks and going offshore, it has been suggested thatthe banks will raise the minimum deposit requirements on accounts to at least 20,000dhs.

Commencing 2010, if you fall below these values, extremely high charges will be applied...
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Old Dec 14th 2009, 5:14 am
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Default Re: All is well that ends well.

Originally Posted by TGFKASE View Post
So, Dubai gets 10bn.. What did AD get in return????
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Old Dec 14th 2009, 1:32 pm
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Default Re: All is well that ends well.

Originally Posted by Sandboy View Post
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Old Dec 14th 2009, 1:52 pm
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Default Re: All is well that ends well.

While I'm not surprised that AD did this, considering there is another 60-120 Billion of dubai debt maturing in the next 2 years this is just the tip of the iceberg.
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Old Dec 15th 2009, 3:38 am
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Default Re: All is well that ends well.

Originally Posted by TA5 View Post
While I'm not surprised that AD did this, considering there is another 60-120 Billion of dubai debt maturing in the next 2 years this is just the tip of the iceberg.
The published figure is less than 120B - I'm not sure which orifice you pulled that number from. In any case, UAE has demonstrated that it can and will handle it's business. Your doomsday prediction isn't going to happen.

Things are definitely changing - but it's going to be okay.
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Old Dec 15th 2009, 8:14 am
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Default Re: All is well that ends well.

Originally Posted by BurpusMe View Post
The published figure is less than 120B - I'm not sure which orifice you pulled that number from. In any case, UAE has demonstrated that it can and will handle it's business. Your doomsday prediction isn't going to happen.

Things are definitely changing - but it's going to be okay.
You keep repeating that BM, are you trying to convince us or yourself?
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Old Dec 15th 2009, 8:31 am
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Default Re: All is well that ends well.

Originally Posted by GrecoRomano View Post
You keep repeating that BM, are you trying to convince us or yourself?
Call me the voice of persistent optimism.
Or call me an a-hole if it makes you feel better.

Last edited by BurpusMe; Dec 15th 2009 at 8:34 am.
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Old Dec 17th 2009, 5:31 pm
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Default Re: All is well that ends well.

Originally Posted by Sandboy View Post
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