Abu Dhabi bails out Dubai with $10 billion
Oil rich Abu Dhabi decided to help out their Emirates neighbor Dubai on Monday with a 10 billion dollar bailout. Times of India reports, The move was the least expected of all options Dubai had on the table after requesting a standstill on $26 billion in Dubai World debt on Nov. 25, alarming markets and shaking the image of the emirate as a regional business hub. Twitter users are worried for the future of Dubai, but are happy to know that Abu Dhabi has decided to help. msliedrecht (Dubai, UAE) Whoo Dubai gets AED36 billion bail out from Abu Dhabi. 14 Dec 2009 from TwitterBerry Koolpep (Dubai, UAE) @tomsp Dubai would bail out their companies if they could, my friend. They simply can’t. The other side of todays news, I guess. 14 Dec 2009 from TweetDeck in reply to tomsp miamigemini (Miami, Florida) Abu Dhabi had to bail out Dubai today for $10B+. It really is bye bye, Dubai… http://bit.ly/MKHNJ 14 Dec 2009 from TweetDeck HannahHaniya (Casablanca) Wasn’t it kind of obvious that #Abu Dhabi would bail out Dubai? Wondering what took so long. 14 Dec 2009 from Echofon siyabulelas (Johannesburg, South Africa) In debt? Dont feel isolated, even Dubai needs a bail out of mammoth proportions. Geez! 14 Dec 2009 from mobile web — this quote was brought to you by quoteurl Share More
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on December 14, 2009. Filed under