12-04-2008, 10:12 PM
<b>Dubai Speculators Quit as Lending Drought Bursts Desert Bubble </b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->The sheikhdom may need help from Abu Dhabi and the U.A.E. to service its debt, according to Moodyâs Investors Service. Dubai borrowed $80 billion to finance its transformation and make up for a lack of natural resources. It has just 4 billion barrels of oil reserves, compared with Abu Dhabiâs 92.2 billion barrels.
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<b>Dubai will meet its debt obligations, </b>he said.
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<b>âThe speculative buyers were more than 50 percent of the market,â</b> said Eckart Woertz, chief economist at the Dubai- based Gulf Research Center.<b> âThey have disappeared.â </b><!--QuoteEnd--><!--QuoteEEnd-->
Money for terror will also disappear, only IMF gave breathing space to Pakistan and its terror syndicate.
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<b>Dubai will meet its debt obligations, </b>he said.
...
<b>âThe speculative buyers were more than 50 percent of the market,â</b> said Eckart Woertz, chief economist at the Dubai- based Gulf Research Center.<b> âThey have disappeared.â </b><!--QuoteEnd--><!--QuoteEEnd-->
Money for terror will also disappear, only IMF gave breathing space to Pakistan and its terror syndicate.
