Just in the last few days, Dubai World (DW) shocked investors all across the world in announcing that it will take steps to seek a six month standstill period on payments of interest and principal on $59 billion of its outstanding debt. This terse and surprising announcement on late Thursday November 25, 2009, the eve of a national holiday in Dubai, spooked stockmarkets all over the globe, with Asian and European markets reacting immediately on open with a 3% drop, before recovering somewhat over the day on Friday...
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