Abu Dhabi Rescues Dubai With $10-billion Bailout

Abu Dhabi rescues Dubai with $10-billion bailout

World markets rise on the news. But even though the aid will cover a payment due today, spendthrift Dubai remains heavily in debt. Abu Dhabi rescued debt-ridden Dubai today with a $10-billion bailout package that lifted world financial markets but left unclear how the glittering emirate by the sea would recover from nervous investors and a troubled real estate market.

Sections:  news   world   business   
Topics:  abu dhabi   bailouts   bank bailout   dubai   dubai debt   
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