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Dubai turns to Abu Dhabi for debt relief

December 30, 2009

Hard times: Dubai World, developer of Atlantis Hotel and The Palm, is struggling with its debts

Abu Dhabi, Dubai's oil-rich neighbour in the United Arab Emirates, is to bail out the emirate with $10bn to enable it to meet its immediate debt obligations and allow the payment of a $4.1bn sukuk bond related to Dubai World's real estate subsidiary, Nakheel. Dubai's government said that the remaining capital would be used to pay interest, contractors, suppliers and operating costs until the company reaches agreement with its creditors on the remaining portion of Dubai World's $26bn debt. Abu Dhabi has contributed more than $25bn in capital injections to Dubai this year.

Largest sukuk default looming

December 2, 2009

As Dubai markets reopen, investors digest Nakheel standstill.

China asserts African link

November 27, 2009
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Kazakhstan pins hopes on $500m international bond

November 27, 2009

Back from brink: the Kazakhstan government spent $19bn shoring up the banking sector

Kazakhstan is to issue its first international bond issue in nearly 10 years as the government looks to strengthen its public finances and provide companies with a target benchmark as it returns to the international capital markets.

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