Abu Dhabi bails out its neighbour, Dubai. Monday, 14th December 2009 Source : TVNZ

Abu Dhabi stepped in to help fellow United Arab Emirates member Dubai with a $US10 billion injection, of which $US4.1 billion was allocated to troubled state-owned conglomerate Dubai World to pay immediate obligations, Dubai said on Monday.

The move was the least expected of all options Dubai had on the table after requesting a standstill on $US26 billion in Dubai World debt on November 25, alarming markets and shaking the image of the emirate as a regional business hub.

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