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Tuesday 16 March 2010
Dubai unlikely to need more c.bank aid - report
Dubai, which is gearing up to give creditors a plan on repaying $26 billion in debt, is not likely to need more help from the United Arab Emirates central bank, its governor was quoted as saying on Monday.
FINANCIALS
In an interview with Bloomberg, Sultan bin Nasser al Suweidi said state-owned conglomerate Dubai World's [DBWLD.UL] debt proposal would treat all banks equally and that local banks will be able to bear the brunt of any "haircuts". "They haven't discussed this issue with us and I don't think it will be necessary," Suwaidi said in response to a question on whether Dubai will need further federal support.
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