[Andy Capp]

$80 billion and rising????

FT.com / Companies / Financial Services - Dubai shock after debt standstill call

Dubai World Seeks to Delay Debt Payments as Default Risk Soars - Bloomberg.com

And i thought i was bad!!!!

 

[bdb]

Its also on BBC BBC News - Dubai under scrutiny after debt payment delay

Meanwhile GNews has this to report:

London Business School chair in honour of Shaikh Mohammad

gulfnews : London Business School chair in honour of Shaikh Mohammad

 

[Iron Horse]

Not a good sign at all.

 

[Amtobi]

but my question is what does this mean to us? What would happen if (when) they default on these loans?

 

[mrbig]

yeppper, top headline on drudgereport.com

 

[bdb]

I really doubt that Abu Dhabi will turn their back on the Makhtooms. After all if Dubai really went bust, then it would shed a bad light on Abu Dhabi as well. And I think Abu Dhabi has more than enough money to cover Dubais debts.

I am sure the Qataris are loving this

 

[Dubai1]

So let me get this straight........

Dubai World has in effect defaulted on their loan repayments........

Does that mean they all get thrown in jail until further notice, or someone settles their debt for them?

That is after all the way it works over here isn't it!!!!

 

[mrbig]

HEHEHEHEH, that will be the day.

 

[GAMMA]

The problem is ..these guys may not have what it takes to come out of this mess..... they may still be thinking that all these creditors should stand n wait for their lucky turn to get back funds.... i mean the mind set is the problem..

It is going to screw expats..... investor may turn away from UAE/ so no funds for the project/ businesses... and no jobs...

 

[marc]

Very Interesting,

Standard and Poor's and Moodys - ''Junk Status'' - on their debt ratings.

 

[Camel Lover]

Bad news all round, lots of hand wringing and tut-tutting going on all over the world and of course the ' I told you so ' brigade.......as someone has rightly pointed out do they have the know how, the will etc to get out of this mess?

I and many like me on this forum have seen at first hand the money wasted due to some very poor management and ego massaging........In my opinion many many people are looking for the get out clause right now and will over the next 6 months see an even further reduction in the ex-pat community

 

[EXPAT09]

Posted 4 mins ago

Yahoo

UAE to back banks amid Dubai meltdown - Yahoo! News