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Proof that we live with Global Markets, Eid holidays throughout Muslim nations, yet European markets carry on, also ignoring Thanksgiving close in USA!
Why should Arab countries do as you wrote, to demonstrate solidarity?
I believe many people, including many within the GCC, are smiling, at, what I can only describe as, this Dubai Debacle! Envy and schadenfreude are very poor human characteristics, in my opinion.
UAE institutions holding Dubai World paper may well be guided to accept delay in redemption, I think all others will demand settlement as per the contract.
Hopefully Dubai will learn from this episode and actually manage companies and news better in the future.
All Arab countries are rich and can give a couple of $billion to wort this out.
ReplyDeleteThey will act to show their solidarity.
At this stage two comapnies are trying their chance. I think banks should not agree with postponement and they will come back with money.
Why should Arab countries do as you wrote, to demonstrate solidarity?
ReplyDeleteI believe many people, including many within the GCC, are smiling, at, what I can only describe as, this Dubai Debacle! Envy and schadenfreude are very poor human characteristics, in my opinion.
UAE institutions holding Dubai World paper may well be guided to accept delay in redemption, I think all others will demand settlement as per the contract.
Hopefully Dubai will learn from this episode and actually manage companies and news better in the future.