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First to report that Abu Dhabi will not offer unconditional support to neighbor Dubai11.28.2009
Reuters was alone from Abu Dhabi on Nov 28 with a senior government official saying the wealthy capital of the United Arab Emirates would pick and choose how to assist Dubai through a debt crisis. The official ruled out writing a blank check for Dubai, whose rapid expansion has piled up debts it is now struggling to pay. The news contributed to a 7.3 percent fall in Dubai stocks and a record 8.3 percent fall in Abu Dhabi stocks when markets reopened on Monday. International media including Bloomberg were forced to quote the Reuters story. |
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