Going Long Dubai Stocks

In the wake of today (March 25)'s announcement from Dubai World (DW) of proposals for the restructuring of US$23.5bn of its debts, we have decided to initiate a long Key Market Views position on the Dubai Financial Market General Index (DFGMI). This does represent an about change from our previous bearish stance towards Dubai equities, but we nonetheless believe that there is sufficient rationale to support our decision.

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