"This bond sale is a way for Dubai to raise money at a cheap rate and provide the government with the necessary funds to substitute for the liquidity that has dried up globally and meet all upcoming financial obligations," said the study by the Dubai Chamber of Commerce and Industry.
"The bond will give government entities access to funds to meet the commitment to finish all infrastructure project, boost government spending and clear the way for more focus on some of the stimulus programmes.
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This is not really the freshest news and is coming up again and again. We believe that once the money is finally really invested instead of just announced the positive effect will be seen on the stock market in Dubai.
ReplyDeleteTalking about it alone wont help...
I agree with you 100% and I have stopped posting just the frothy articles.
ReplyDeleteThis article was posted as it was the first pronouncement by DCCI.
From what I gather some of the monies have been disbursed, however this has not resulted in the floodgates opening, indeed I hear that partial settlements are being offered!
Further delays will only result in an extended period of very low confidence.
Here http://www.business24-7.ae/Articles/2009/5/Pages/05052009/05062009_eac4b0dd1da643edafe2ac59d2ee033c.aspx is yet another "20b" story!
ReplyDeleteLast week talk was of delayed deliveries http://rupertbumfrey.blogspot.com/2009/05/emirates-to-delay-b777-deliveries.html now Sheikh Ahmed is denying the words of Emirates man in Seattle!
What to do, yet more smoke and mirrors.