Dubai ruler plays up strength as Gulf markets fall

[Joanne98]

Source: Reuters

DUBAI (Reuters) - Gulf markets dropped again on Tuesday, taking little comfort from Dubai World's plan to restructure about $26 billion of debt, while the rulers of Abu Dhabi and Dubai talked up their economic strength.

Dubai stocks fell a further 3.6 percent and the Abu Dhabi bourse lost 5.6 percent on their second trading day since Dubai last week asked creditors of Dubai World and its property arm Nakheel for a six-month delay on debt repayments. Qatar's bourse was also more than 8 percent lower.

State-controlled Dubai World, which led the emirate's transformation into a regional hub for finance, investment and tourism, unveiled details late on Monday of its plan covering $26 billion of debt owed by its main property firms, Nakheel and Limitless.

Global markets took a pounding when the Dubai news broke last week, though on Tuesday Asian and European stocks were up, following the lead from Wall Street overnight


Read more: http://www.reuters.com/article/newsOne/idUSGEE5AS0AH20091201

[SpiralHawk]

1. Meanwhile, Bill O'Reilly proclaims Huckabee pure & innocent

so the massive flow of bullshit continues from Republicon cronies in Dubai, and from republicon stooge Bill O'Reilly's mouth...

[Algorem]

2. did the electric company shut off power to their indoor ski slope yet?

new attraction- The Sweat-o-Dome - come to Dubai,fat rich tourists,and walk up and down our 150 degree indoor hill until you are thinner than one of our imported third world slave laborers,and don't bring your weed,or we will chop off your head.

[Altoid_Cyclist]

6. Thanksgiving day with my in-laws redux.

I have one BIL who always manages to bring up two things everytime that I'm around him.

One is that he thinks that Dubai is the greatest place on Earth and that the rulers are the smartest people on the planet. He always walks away or changes the subject when I try to point out that everything they have is the result of slave labor from other countries. He just sort of gives me a look that says that I'm an idiot when I mention that the workers are lured there by pie in the sky promises only to have their passports taken so that they can't leave.

The second thing is that we need to nuke a few of the biggest Islamic cities and then wipe out the rest of them one country at a time so that they don't take over our country.

I love my in-laws, they always manage to give me a reason not to attend family gatherings for a while.

[pjt7]

3. George Bush wanted to sell America's ports to these

creeps.

[FarCenter]

4. They were sold to AIG instead

[pjt7]

5. Amazing

but true.

America needs to know it's enemies.. foreign & domestic