Thursday 11 February 2010
Dubai Commodities Agency Seeks To Rise Above Regional Woes
A budding commodities trading house in Dubai is seeking to escape the fallout from debt woes plaguing the region.
The Dubai Multi Commodities Center, or DMCC, has ridden on Dubai World's coattails to build its own trading operations. This association turned sour, however, when the investment company for Dubai's government last November sought to delay payment of $26 billion of debt, rocking markets around the world.
DMCC is now distancing itself from Dubai World, emphasizing its separate royal charter and balance sheet.
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