Tuesday, November 22, 2011

Fresh seven-year low for Dubai stocks as local and global financial problems escalate

The Dubai Financial Market dropped to a fresh seven-year low of 1,355 yesterday weighed down by the rapidly deteriorating eurozone debt crisis and further fall-out in the local financial sector with job cuts at Shuaa Capital and Global Investment House asking investors for a second renegotiation of payments due on its $1.7 bond program.

These are clearly very tough times for investment banks in the Gulf region as in the rest of the world
Copyright 2011 Peter John Cooper All rights reserved

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Source: http://www.albawaba.com/fresh-seven-year-low-dubai-stocks-local-and-global-financial-problems-escalate-402149

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