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Dubai may receive more assistance from the federal government or Abu Dhabi in 2010

2009-12-21

Reuters- Sultan Bin Saeed Al Mansouri the Minister of Economy of the United Arab Emirates said on Monday that the emirate of Dubai, which more of it debt due in 2010 may receive more aid from both the federal government or the rich emirate of Abu Dhabi. In response to a question whether the UAE government will give more financial support to Dubai next year, Al Mansouri said that the situation will be evaluated. He told reporters on the sidelines of a conference that the situation must studied and evaluated properly and therefore a decision will be reached, whether at the federal level or local level because the state sees it as one economy and indivisible. Abu Dhabi had granted Dubai e ten billion dollars last week, which prevented the emirate to delay the payment of Islamic bonds that worth $ 4.1 billion and issued by Nakheel Dubai.