Breakingviews | Dubai World

Considered view

27 Nov 2009 12:20

If the numbers are right...

About Us

Breakingviews.com is the world's leading source of agenda-setting financial insight. breakingviews has 25 correspondents and columnists based in London, New York, Paris, Washington, San Francisco and Madrid. Our aim is to become the lingua franca for the global financial community. Our real-time subscription service currently reaches around 15,000 financial professionals such as investment bankers, senior corporate executives, hedge fund managers, lawyers and private equity professionals.

We reach a broader audience of nearly 4.5m investors and opinion-formers via columns in the following influential newspapers: The New York Times (USA), The Telegraph (UK), The International Herald Tribune, Le Monde (France), El Pais and Cinco Dias (Spain), Handelsblatt (Germany), La Stampa (Italy), NRC Handelsblad (Netherlands), The National (UAE), The Business Times (Singapore), Mint (India) and L’Agefi (Switzerland).

Facts are scarce, but Dubai World is supposed to hold three quarters of the emirate’s debt. The holding company had $59bln of liabilities at the end of 2008, and $40bln of equity. Even after a deep fall in the property market, it’s hard to see how losses can exceed $10-20bln.

Sign up for a free trial to read the rest of this subscriber-only content, or if you are already a member please sign in here.

Forgotten your password? Get a password reminder.