Nov. 26 (Bloomberg) — Dubai World, with $59 billion of liabilities, is seeking to delay debt payments, sending contracts to protect the emirate against default surging by the most since they began trading in January. …
Read Original Story: Dubai World Seeks to Delay Debt Payments as Default Risk Soars – Bloomberg
Nov. 29 (Bloomberg) — The United Arab Emirates’ central bank said it “stands behind” the country’s local and foreign banks, which face losses from Dubai World’s possible default, and offered them access to more money under a new …
Read Original Story: UAE Central Bank Stands Behind Lenders, Adds Funds – Bloomberg
DUBAI (Reuters) – The United Arab Emirates’ central bank set up a facility on Sunday to support liquidity in the banking system Dubai’s government sought to delay debt payments from two of its flagship firms, sending global markets lower. …
Read Original Story: UAE cbank sets up liquidity facility for banks – Reuters
LONDON (Dow Jones)–European banks face potential losses on an estimated $40 billion in exposure to Dubai after the city-state’s largest corporate entity, Dubai World, asked creditors for a six month standstill …
Read Original Story: European Banks May Have $40B Dubai Exposure – Wall Street Journal
By William L. Watts, marketwatch LONDON (marketwatch) — Fears of a potential default in Dubai sent shock waves through financial markets Thursday, weighing on European and Asian equities, lifting government bond prices and pulling the US dollar off of …
Read Original Story: Dubai woes roil financial markets – MarketWatch
DUBAI — This debt-laden city-state said Wednesday it would restructure its largest corporate entity, Dubai World, a conglomerate spanning real estate and ports, and announced a six-month standstill on the group’s debt. …
Read Original Story: Dubai World Seeks Debt Standstill – Wall Street Journal
DUBAI — Dubai’s fragile real-estate market could suffer another collapse in prices after the city-state asked for a standstill on Dubai World’s debt and its struggling real-estate unit Nakheel. "Should they effectively default, …
Read Original Story: Dubai Debt Freeze to Hit Property Recovery – Wall Street Journal
By Chris Oliver, marketwatch HONG KONG (marketwatch) — A wave of selling swept across Asian markets Friday, with banking giant HSBC Holdings knocked lower, as investors scrambled to piece together how much exposure regional lenders have to the …
Read Original Story: HSBC tumbles as banks retreat amid Dubai worry – MarketWatch
By Alistair Barr, marketwatch SAN FRANCISCO (marketwatch) — US banks are probably less exposed than European rivals to a potential debt default by Dubai World, but a lack of transparency and the interconnectedness of the modern financial system make …
Read Original Story: US banks less exposed to Dubai than European rivals – MarketWatch
Nov. 27 (Bloomberg) — Dubai’s attempts to delay debt repayments spurred an increase in the cost of insuring government and company bonds from default around the world and may curb lending throughout the Persian Gulf. …
Read Original Story: Dubai Debt Payment Concern Spurs Rise in Global Credit Risk – Bloomberg
