Dubai Exchange Goes South As Trading Resumes

  • Playlist
  • Download
  • Embed
    <iframe src="" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

Dubai's main stock exchange slid more than 7 percent on the first day of trading since news of its debt crisis. Dubai officials last Wednesday announced that Dubai World, the emirate's investment and development engine, would seek a six-month delay in paying nearly $60 billion in debt.


NPR's business news starts with the aftermath of the trouble in Dubai.

(Soundbite of music)

INSKEEP: Global financial markets are still focused on Dubai and the Persian Gulf. That city state made investors very nervous last week after reports that two major companies in Dubai might not be able to pay their debts on time. They're both involved in Dubai's gigantic real estate development of recent years.

Stocks around the world plunged on fears that this could trigger another global financial crisis, which so far has not happened. Asian markets were up slightly today. American stock indexes are mostly flat. Yesterday, central bankers in the Gulf region took measures to provide emergency credit to financial firms. But still in Dubai, the stock index fell more than 7 percent.

Copyright © 2009 NPR. All rights reserved. Visit our website terms of use and permissions pages at for further information.

NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR’s programming is the audio.



Please keep your community civil. All comments must follow the Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.

NPR thanks our sponsors

Become an NPR sponsor

Support comes from