Dubai Debt | featured news

World markets rise on the news. But even though the aid will cover a payment due today, spendthrift Dubai remains heavily in debt.

Investors were relieved to see Abu Dhabi's $10 billion rescue of Dubai, while acquisition plans announced by Exxon Mobil helped lift the energy sector.

Wall Street shares were slightly lower as investors tried to assess the fallout from Dubai’s debt crisis as well as retail sales from the kickoff of the Christmas shopping season.

The United Arab Emirates central bank said it stood behind domestic and foreign banks operating in Dubai after a recent announcement about Dubai World’s debt.

Abu Dhabi, wealthy capital of the United Arab Emirates, will "pick and choose" how to assist debt-laden neighbor Dubai, a senior official said on Saturday, after fears of a Dubai default sent global markets reeling.

World stock markets fell sharply Thursday as investors fretted over the debt problems at Dubai World, a government investment company, and the continued fall in the dollar.