Emerging markets

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Investors in the Middle East were given a nasty scare on November 25 when Dubai World, a government-owned holding company, announced it would request a standstill on billions of dollars of debt. An intervention by Abu Dhabi, which provided $10 billion in financing to Dubai World on December 14, offered some relief – in particular, to investors in a $4.1 billion sukuk issued by Nakheel, a property company owned by Dubai World, which was due to mature that day. However, plenty of uncertainty remai

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