BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Dubai World to meet with creditor panel to discuss debt crisis]]>http://www.bloggingstocks.com/2009/12/02/dubai-world-to-meet-with-creditor-panel-to-discuss-debt-crisis/http://www.bloggingstocks.com/2009/12/02/dubai-world-to-meet-with-creditor-panel-to-discuss-debt-crisis/http://www.bloggingstocks.com/2009/12/02/dubai-world-to-meet-with-creditor-panel-to-discuss-debt-crisis/#commentsFiled under: , , , , , , ,

The Dubai crisis is not going away. Government owned Dubai World has scheduled a meeting with creditors to discuss the possible settlements.

What is most troubling is that the government of Dubai has refused to guarantee Dubai World's debt. That creates an international situation. While it has not been confirmed, it is believed that Standard Chartered Bank, HSBC, Lloyds, Royal Bank of Scotland and local lenders Emirates NBD, Abu Dhabi Commercial Bank are key creditors.

Continue reading Dubai World to meet with creditor panel to discuss debt crisis

Dubai World to meet with creditor panel to discuss debt crisis originally appeared on BloggingStocks on Wed, 02 Dec 2009 16:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>dubaifeaturednakheelWed, 02 Dec 2009 16:30:00 EST<![CDATA[Closing Bell: Dubai sends jitters throughout the market (S, BBY)]]>http://www.bloggingstocks.com/2009/11/27/closing-bell-dubai-sends-jitters-throughout-the-market-s-bby/http://www.bloggingstocks.com/2009/11/27/closing-bell-dubai-sends-jitters-throughout-the-market-s-bby/http://www.bloggingstocks.com/2009/11/27/closing-bell-dubai-sends-jitters-throughout-the-market-s-bby/#commentsFiled under: ,

While the day after Thanksgiving in the US is usually a light trading day, thanks to people being on vacation, traveling, Black Friday shopping, and their being more concerned about being with family, today's market has been active with people reacting to recent troubling news coming out of Dubai.

Dubai, Wednesday, announced that it was asking to delay payment on billions of dollars of debt owed to Dubai World and Nakheel, a major developer in Dubai (you may remember those large palm shaped islands off Dubai for celebrities and the ultra-rich). Fear about Dubai writedowns has affected the price of oil, despite large supplies. Investors are worrying that the ripple effect of Dubai's debt problems will spread to other banks, creating another crisis.

Here were today's unofficial closing bell levels:

Dow 10,309.77 -154.63 (-1.48%)
S&P 500 1,091.47 -19.16 (-1.73%)
Nasdaq 2,138.44 -37.61 (-1.73%)

Continue reading Closing Bell: Dubai sends jitters throughout the market (S, BBY)

Closing Bell: Dubai sends jitters throughout the market (S, BBY) originally appeared on BloggingStocks on Fri, 27 Nov 2009 13:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>black fridaydubaidubai debtdubai worldeuropean investment bankgmnakheelsaabFri, 27 Nov 2009 13:00:00 EST