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Shares tumble, yen surges on Dubai fears

Fears about a global contagion from Dubai's debt crisis triggered a broad sell-off of world shares, oil and other assets on Friday, fuelling flows into the low-yielding yen and safe-haven government bonds.

Oil falls below $74 amid Dubai debt jitters

Oil prices extended their decline from the previous day to a six-week low of below $74 a barrel on Friday, as nervous investors, roiled by debt problems in Dubai, pared positions and shifted to safe-haven assets.

Dubai debt delays revive fear of financial crisis

Investors recoiled from risky assets on Friday and dumped shares in Asian banks and builders, fearing a Dubai debt default could reignite the financial turmoil of the credit crisis.

Shares skid on Dubai debt worries, yen surges

Asia stocks slumped on Friday as shockwaves from Dubai's debt crisis hit the region, shaking banking shares and boosting the yen to a fresh 14-year high against a struggling dollar as investors unwound risky trades.

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Daily Forecast - 27/11/2009

The Australian Dollar opens lower today at 0.9140 after a volatile local session on Thursday. The Aussie's foray above US93 cents due to a weak greenback was short-lived after the release of third-quarter capital expenditure data which fell 3.9 per cent. The unit fell sharply to an intraday low of 0.9230 ahead of a move back up to 0.9245 heading into European trade. In offshore trade, the unit moved between a high of 0.9245 down to 0.9100 on renewed risk aversion, however volumes were far thinn...

Dubai struggles to assuage debt fear

Dubai struggled to ease fears of debt default on Thursday after its move to delay repayments at two flagship firms shook confidence in the Middle East as a center for investment and a source of capital.

Bruised Lloyds gets OK for record cash call

UK bank Lloyds' army of small investors grilled executives for over three hours on Thursday over secret central bank loans and mistakes made during the crisis, but agreed to back a record-breaking rights issue.

Dubai debt difficulties hammer stocks

Debt problems in Dubai struck financial markets hard on Thursday, sinking global stocks, lifting safe-haven bonds and driving the dollar higher.

Dubai debt fears hammer stocks

Debt problems in Dubai hit financial markets across the board on Thursday, sinking global stocks, helping lift safe-haven bonds and taking the dollar up from a 14-year low against the yen.

Dubai struggles to assuage debt fears

Lloyds gets OK for record $22.5 billion cash call

Lloyds Banking Group investors on Thursday overwhelmingly approved the bank's record rights issue but gave executives a grilling for mistakes made during the financial crisis.

Dubai debt delay rattles UK, Europe banks

European banks were hit by concern about potential exposure to debt problems in Dubai on Thursday, while companies where Middle Eastern investors own big stakes also came under pressure.

Dubai debt delay rattles stock, bond markets

Shares in banks, builders and companies part-owned in the Middle East fell around the world on Thursday and investors sought safety in government bonds on worries about Dubai's ability to pay its debts.

Dollar off 14-yr low vs yen; SNB seen intervening

The dollar edged up from 14-year lows against the yen on Thursday as renewed risk aversion prompted investors to shed riskier assets, giving pause to broad dollar selling.

COLUMN-Dubai will pay for Abu Dhabi aid: Alexander Smith

Abu Dhabi is not going to crow publicly over Dubai's troubles. But it will use the opportunity to assert control over its upstart neighbour. The price for Abu Dhabi's help could be prize assets like airline Emirates. Dubai has little choice but to do what it is told.

GLOBAL MARKETS-Dubai debt worry ripples across assets

Debt problems in Dubai hit global stocks, helped lift bonds and took the dollar away from a 14-year low against the yen on Thursday.

Saudi-backed GIB pulls bond sale on Dubai debt move

A dollar bond sale by Saudi-backed Gulf International Bank (GIB) was pulled after Dubai's move to delay repayment on billions of dollars of debt owed by its two flagship firms, sources said on Thursday.

Dubai debt worry ripples across assets

Debt problems in Dubai hit global stocks, helped lift bonds and took the dollar away from a 14-year low against the yen on Thursday.

Dollar up from 14-yr low vs yen; Dubai supports

The dollar rebounded from a 14-year low against the yen on Thursday as traders betting against the dollar seized on the broad risk reduction prompted by Dubai's debt problems to cash in on its recent slide.

Dubai debt problems hit markets, DP World not affected

Dubai's debt problems shook European banking shares on Thursday despite the emirate's efforts to minimize the impact of a debt restructuring plan at two of its biggest companies that raised fears of default.

Dubai debt worry stirs cautious investors

Debt problems in Dubai weighed on stocks, helped lift bonds and stirred currency trades on Thursday, as the dollar hit a 14-year low against the yen and gold climbed to a new record high.

Dubai seeks debt delay, some units cut to junk

Dubai said on Wednesday two of its flagship firms planned to delay repayment on billions of dollars of debt as a first step toward restructuring Dubai World, the conglomerate that spearheaded the emirate's breakneck growth.

Dubai seeks debt delay, to restructure conglomerate

Dubai will ask creditors of two of its flagship firms for a standstill on debt worth billions of dollars as a first step toward restructuring Dubai World, the conglomerate which spearheaded the emirate's breakneck growth.

Burkle buys Barneys New York debt: report

Supermarket mogul Ron Burkle and his investment arm, Yucaipa, have purchased a large amount of U.S. luxury retail chain Barneys New York's debt, the Wall Street Journal said, citing people familiar with the matter.

Dragon Oil says ENOC won't up offer from 455p/shr

Dragon Oil Plc said Dubai's state-owned refiner Emirates National Oil Co (ENOC) has confirmed it won't increase its takeover offer from 455 pence per share.