Dubai's ruling family moves to calm debt fears as global markets slide Dubai's ruling family has attempted to calm international fears over its economic stability, saying its rescue package for its most indebted state company was "carefully planned". By Richard Spencer in Dubai Published: 7:46AM GMT 27 Nov 2009
Sheikh Ahmed bin Saeed al-Maktoum, who heads the city's Supreme Fiscal Committee, issued an urgent statement on Thursday night saying it understood "the concerns of the market and the creditors in particular". But he added: "Our intervention in Dubai World was carefully planned and reflects its specific financial position. The Government is spearheading the restructuring of this commercial operation in the full knowledge of how the markets would react." .................................... The British banks with the highest profile presence in Dubai, HSBC and Standard Chartered, both continued to suffer, dropping more than 6pc on the Hong Kong exchange. HSBC fell 6.1pc, Standard Chartered 6.4pc. .............................................................. "Like most global cities, Dubai has experienced its share of economic and social challenges in this global downturn. No market is immune from economic issues," he said. "The economic fundamentals, such as our highly developed infrastructure, strong transport and communications hub and regional financial centre will ensure Dubai remains an attractive regional market." .................................................. If not, analysts expect consolidation with the help of Abu Dhabi's oil wealth and a return to the first model. But the markets worry that the knock-on effects might be felt around the world in the meantime. Shares in companies part-held by Abu Dhabi's sovereign wealth funds such as Daimler Benz fell amid fears that stakes would have to be sold to "bring money home". --- In obrolan-bandar@yahoogroups.com, yoseph lie <lie_yos...@...> wrote: > > > > > Mbah, > > > 1. Dari berita yg saya baca sebenarnya rencana penundaan pembayaran utang > lagi sedang dibicarakan dng kreditur. > > > 2. CEOnya adalah mantan PETINGGI LEHMAN BROTHER. Dan ada pergantian CEO yg > lebih konservatif. > > > 3. Pihak perusahaan aja kaget berita ini bisa bocor. > > > 4. Kesimpulannya kayaknya memang sengaja DIBLOW OUT. > > > Mulai chatting dengan teman di Yahoo! Pingbox baru sekarang!! Membuat > tempat chat pribadi di blog Anda sekarang sangatlah mudah. > http://id.messenger.yahoo.com/pingbox/ >
