Dubai Stocks: Further to Fall?

While the state-controlled conglomerate Dubai World and its creditors met on Monday to discuss the request to delay the repayment of US$26bn of debt, the fallout is still being felt in equity markets throughout the region. Confidence remains low as the Director General of Dubai's department of finance, Abdulrahman al-Saleh, announced today that six months is not enough time to restructure Dubai World. Stocks in Abu Dhabi, Qatar, Oman, Egypt and Saudi Arabia have continued the downward slide that began with the announcement of the standstill, with the Dubai Financial Markets General Index (DFMGI) falling 20.5% from 2,075 on November

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