the United Arab Emirates' central bank pledged to make extra funding available to all banks in the country, including foreign institutions with local branches. Asian markets rebounded by around 3 percent after tumbling heavily on Friday, when European and U.S. stock markets had regained their poise.Investors in Europe, a different story altogether (fussy as they are!!) , continued to worry about the fallout from Dubai World's announcement last week that it wanted to postpone forthcoming debt payments until May. Much of the $60 billion debts held by the government investment company are thought to be with European banks, particularly those in Britain and so, it seems, they are going to continue crying for some time.
Monday, November 30, 2009
European stocks down as Dubai debt worries linger
I have been bemoaning the far-reaching impact of Dubai's problems for quite some time now and even though it seemed obvious that its effects are going to hurt around for some time, every latest news increases anxiety and concerns. European stock markets have fallen again today amid concerns about Dubai's debt problems, even after the United Arab Emirates' central bank pledged to make extra funding available to all banks in the country, including foreign institutions with local branches. Asian markets rebounded by around 3 percent after tumbling heavily on Friday, when European and U.S. stock markets had regained their poise.Investors in Europe, a different story altogether (fussy as they are!!) , continued to worry about the fallout from Dubai World's announcement last week that it wanted to postpone forthcoming debt payments until May. Much of the $60 billion debts held by the government investment company are thought to be with European banks, particularly those in Britain and so, it seems, they are going to continue crying for some time.
the United Arab Emirates' central bank pledged to make extra funding available to all banks in the country, including foreign institutions with local branches. Asian markets rebounded by around 3 percent after tumbling heavily on Friday, when European and U.S. stock markets had regained their poise.Investors in Europe, a different story altogether (fussy as they are!!) , continued to worry about the fallout from Dubai World's announcement last week that it wanted to postpone forthcoming debt payments until May. Much of the $60 billion debts held by the government investment company are thought to be with European banks, particularly those in Britain and so, it seems, they are going to continue crying for some time.
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