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Investors brace for United Arab Emirates stock fall

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Investors brace for United Arab Emirates stock fall


Investors are braced for a 10 % fall in the United Arab Emirate stocks as the market reopens for the first time since Dubai called for a delay in repaying billions of dollars in debt, spooking global markets.

Asian stocks have, however, rallied, recouping some of last week’s heavy losses after the UAE offered the region’s banks emergency support and Abu Dhabi has said it will provide selective support to Dubai companies. This has helped ease concerns that a looming debt default by two flagship Dubai companies could trigger the kind of knock-on effect that the collapse of Lehman Brothers caused at the height of the financial crisis last year.

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