Abu Dhabi will not race to Dubai's rescue
According to officials, Abu Dhabi, the richest state in the United Arab Emirates, will be cautious about how and whether to assist Dubai World, the state holding company that this week suspended repayments on a $3.5bn (£2.1bn) Islamic bond due in mid-December. Any sign that Abu Dhabi’s support may not yet be secured could push global markets further into turmoil tomorrow, analysts said, especially if Dubai’s ruler maintains his silence on the crisis beyond this weekend’s Eid religious holiday. Sources said he may be forced to disrupt the 10-day Islamic break to make a statement as early as tomorrow. We...
Original Article: Forum: News/Activism
Tags: Abu Dhabi, Break, Dubai, Eid, Global Markets, Holding Company, Religious Holiday, Repayments, Ruler, Silence, Turmoil, United Arab Emirates, United Emirates, X92