Dubai business leaders voiced support Thursday for some of the emirate's stronger state-linked companies, as the finance chief dismissed media coverage of the sheikdom's debt woes as "blind panic" and the city-state's main stock market snapped out of a three-day downward spiral.
Government-owned Emirates airline, the region's biggest carrier, said its finances were secure and announced it had lined up more than $1 billion in financing for six more Airbus A380 "superjumbo" planes.
Meanwhile, the head of the Dubai Electricity & Water Authority said the utility provider has "unequivocal confirmation" of continued support from creditors after Moody's Investors Service cut its credit rating to junk status earlier in the week.
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