Happy valentines day! Love, Dubai:
"Dubai stocks retreated the most in almost three weeks as Zawya Dow Jones said Dubai World, the state-owned holding company seeking to restructure $22 billion of debt, may offer creditors 60 cents on the dollar after seven years. Kuwait’s benchmark index surged the most in six months...
Credit-default swaps linked to Dubai debt on Feb. 12 jumped to 631.08, the highest since Nov. 27, according to CMA Datavision prices on Bloomberg. Credit default swaps pay the buyer face value in exchange for the underlying securities or the cash equivalent should a borrower fail to adhere to its debt agreements"
http://www.bloomberg.com/apps/news?pid=20601087&sid=a4FwvCqpkEUc&pos=4
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