India’s finance minister on Saturday urged investors to remain calm after Dubai delayed payments on its 59-billion dollar debt, saying there was “no need to press the panic button.”
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Dubai blackout over debt plans to hit Gulf markets (AFP via Yahoo! News)
A lack of details on how Dubai plans to pay off its 80-billion-dollar debt mountain will hit Gulf stock markets sharply this week when they trade for the first time since news broke of the emirate’s problems, analysts predict.
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