Dubai stock market plunges on debt woes
Stock markets in Dubai and neighbouring Abu Dhabi closed sharply lower on Monday, shedding 7.3 percent and 8.3 percent respectively, hit by a lack of buyers after Dubai World’s shock proposal to suspend debt payments. Dubai’s benchmark DFM Index closed at 1,940.36 points, down 152.80 points from Wednesday, just before Dubai announced it wanted to freeze debt repayments by its huge Dubai World conglomerate for at least six months. A voiced AFPTV report
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This entry was posted on Tuesday, December 1st, 2009 at 10:55 am and is filed under stock market. Follow the comments through the RSS 2.0 feed. You can post a comment, or leave a trackback.