Loans Information

December 1, 2009 ???? UAE takes action to allay investors fears by Kay Murchie Shares in Dubai continued their decline today following the country’s debt crisis after the stock market closed 5.61% down. Abu Dhabi lost 3.57%, while Qatar’s main index closed down 8.27%. However, in a bid to calm investors fears, the president of the United Arab Emirates has attempted to reassure them by issuing a statement saying that region’s economy was in good condition. Last week, it emerged last week that state-owned company Dubai World (Dubai’s highest-profile company) wanted a six-month holiday from its debt repayments. The state-owned conglomerate owes $59 billion of the country’s entire $80 billion debt mountain. As the facts of Dubai’s debt crisis unravelled, shares across the world plunged but over the weekend, the United Arab Emirates (UAE) Central Bank stepped in by providing an emergency liquidity facility for local lenders.

View original here:
UAE takes action to allay investors fears