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Wednesday, December 2, 2009

World Markets Up as Dubai Debt Tensions Ease

World stock markets rose sharply Tuesday after Dubai officials reported negotiations were underway to restructure 26 billion dollars in debt owed by a state-owned conglomerate. The announcement appears to have eased investor concerns, that began after the emirate said the country's investment arm, Dubai World, was seeking a six month delay in repaying nearly 60 billion dollars in debt.VOA's Mil Arcega has the latest.

Tags: dubai debt economy financial crisis business stock markets recover global unemployment recession arcega voa news

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