 |
 |
|
||||
———–
the bonds..the drop in ratings..
401
We got the heavy reaction in gold that we had been expecting for some days on Friday. The problem is that we also got a big important breakout in the dollar, which we had acknowledged as a significant possibility for some time. This is not good news for commodities and not good news for the [...]
Paul Reynolds, head of Rothschild’s advisory operations in the Middle East, was this week asked to work for the Dubai government’s chief restructuring officer alongside Aidan Birkett of Deloitte, who was appointed on Wednesday.
The team is tasked with assessing the group’s assets, which is likely to result in a large scale sell-off of assets as [...]
———-
excllent video by max again..we are not out of this contagion by a long way..
401
While Iceland’s transformation from fishing nation to financial powerhouse – and back – became a potent symbol of the banking boom and bust of the past few years, the Middle Eastern emirate of Dubai was where the global property bubble was taken to its glitziest extreme.
Without the oil reserves of many of their neighbours, Dubai’s [...]
http://english.aljazeera.net/business/2009/11/20091125211621604675.html
The government of the Gulf emirate of Dubai says it will ask creditors of its cash-strapped Dubai World conglomerate to accept a moratorium on debt worth billions of dollars.
The government announced the move on Wednesday as part of a plan to restructure the state-run company and its property developer subsidiary Nakheel.
“Dubai World intends to ask [...]
Recent Comments