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Dubai and Abu Dhabi markets plunge on debt woes (AFP)

Banners of Dubai's property giant Nakheel line a road in the Gulf emirate of Dubai. Dubai World which says it wants to freeze debt repayments for at least six months announced in a statement overnight on Monday that it will restructure part of the group, including property arm Nakheel.(AFP/Karim Sahib)AFP - Stock markets in Dubai and Abu Dhabi plunged on Monday as a top finance official stoked fears the government is washing its hands of the Dubai World debt problem, saying it does not guarantee the firm.


This entry was posted on Monday, November 30th, 2009 at 9:38 pm and is filed under Business, Market News. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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