Sorry no rescuer for Dubai-pore

[minibond]

With black gold at US$76 per bbl today, Dubai has no big problem. It is a city surrounded by oil rich neighbors, Dubai is literally soaked in black gold @ US$76 per bbl.

But not for Singapore. No oil here. Only Jumban NeWater aka Sai-Chwee.

No rich neighbors to bail Singapore out, sorry.

Racially religiously and culturally the red dot is is uniquely Singapore around the region. Politically and financially as well and especially.

PAP only got enemies around itself, that's why had to beg USA for military protection, not only will these neighbors not rescue Singapore, they will not even sell water nor sand to Singapore. That's why Singaporeans drinks their own toilet water aka Sai Chwee.

Dubai is just among all it's own Arab brothers, I meant Oil Rich Brothers, they had been selling close to US$100 per bbl for last few years. CASH is all they got.

Not Singapore no way.

When Singapore's trouble starts all the avalanches will triggered, all the parked funds will pull out, all the investments in SG such as properties will be dumbed by the filthy foreigners and businesses for their own safety. They will not pump in any money here to rescue Singapore, I meant Dubai-pore.


http://news.yahoo.com/s/ap/20091129...Ec2VjA3luX3RvcF9zdG9yeQRzbGsDdWFldG9iYWNrYmFu

UAE to back banks amid Dubai meltdown


By BARBARA SURK, Associated Press Writer Barbara Surk, Associated Press Writer – 13 mins ago

DUBAI, United Arab Emirates – The United Arab Emirates' central bank is saying it "stands behind" local and foreign banks operating in the country, offering them access to money in a sign the Gulf Arab nation's federal government is racing to curtail investor fears over Dubai's crushing debt.

The UAE's official WAM news agency said Sunday the central bank issued a notice to Emirati banks and foreign banks with branches in the country saying it would make available "a special additional liquidity facility linked to their current accounts at the central bank."

The statement comes just days after world markets reacted with shock to news that conglomerate Dubai World wanted creditors to give it a six-month extension on paying some of its $60 billion in debts.

 

[merlion_CB]

In Dubai you will never find HDB flats. You will never find old citizens carting card boards, selling tissue paper, picking aluminum cans, cleaning Mc Donald toilets or airport toilets etc.

In Dubai you will never find ministers paying themselves million dollars even when they are so oil rich.

In Dubai you will never find NKF crooks and Ren Ci monks.

In Dubai they don't fucking HOTA your organs.

In Dubai you don't have to get cheated your CPF savings.

In Dubai you don't get $fined $ERP $Road$TAX.

In Dubai you get chewing gum legally.

In Dubai you don't drink NeWater.

In Dubai they don't do NDP bullshit.

In Dubai they don't vote by GRCs.

In Dubai they don't have MSK to flee ISD.

In Dubai they don't have to jump MRT.

In Dubai they don't have to need Parents Maintenance Act.

In Dubai they don't get Nicoll Highway explosion and cave-in.

The UAE airline don't take off the wrong runway like World Class SQ006.

 

[PAP_Junta]

All the corrupts like Thaksin & Chen Shui Bian will quickly dump every financial positions in SG and flee very fast. SGD$ will become Vietnamese DONG immediately.

 

[kaipoh]

dulai is such a incredible mechanic, is he involved in the ponzi scheme?

With black gold at US$76 per bbl today, Dubai has no big problem. It is a city surrounded by oil rich neighbors, Dubai is literally soaked in black gold @ US$76 per bbl.

But not for Singapore. No oil here. Only Jumban NeWater aka Sai-Chwee.

No rich neighbors to bail Singapore out, sorry.

Racially religiously and culturally the red dot is is uniquely Singapore around the region. Politically and financially as well and especially.

PAP only got enemies around itself, that's why had to beg USA for military protection, not only will these neighbors not rescue Singapore, they will not even sell water nor sand to Singapore. That's why Singaporeans drinks their own toilet water aka Sai Chwee.

Dubai is just among all it's own Arab brothers, I meant Oil Rich Brothers, they had been selling close to US$100 per bbl for last few years. CASH is all they got.

Not Singapore no way.

When Singapore's trouble starts all the avalanches will triggered, all the parked funds will pull out, all the investments in SG such as properties will be dumbed by the filthy foreigners and businesses for their own safety. They will not pump in any money here to rescue Singapore, I meant Dubai-pore.


http://news.yahoo.com/s/ap/20091129...Ec2VjA3luX3RvcF9zdG9yeQRzbGsDdWFldG9iYWNrYmFu

UAE to back banks amid Dubai meltdown


By BARBARA SURK, Associated Press Writer Barbara Surk, Associated Press Writer – 13 mins ago

DUBAI, United Arab Emirates – The United Arab Emirates' central bank is saying it "stands behind" local and foreign banks operating in the country, offering them access to money in a sign the Gulf Arab nation's federal government is racing to curtail investor fears over Dubai's crushing debt.

The UAE's official WAM news agency said Sunday the central bank issued a notice to Emirati banks and foreign banks with branches in the country saying it would make available "a special additional liquidity facility linked to their current accounts at the central bank."

The statement comes just days after world markets reacted with shock to news that conglomerate Dubai World wanted creditors to give it a six-month extension on paying some of its $60 billion in debts.

 

[singveld]

dubai only have dessert and sand

 

[JI_Fled]

dubai only have dessert and sand

But under which you can pump up wealth for generations now @US$76 per barrel. SGP got what?

http://sg.news.yahoo.com/afp/20091129/tts-uae-economy-banking-stocks-bonds-c1b2fc3.html


Dubai blackout over debt plans to hit Gulf markets
AFP
AFP - Sunday, November 29

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[VIDEO: Global markets get jitters following Dubai debt fears. Duration: 01:43] VIDEO: Global markets get jitters following Dubai debt fears. Duration: 01:43

NICOSIA (AFP) - – A lack of details on how Dubai plans to pay off its 80-billion-dollar debt mountain will hit Gulf stock markets sharply this week when they trade for the first time since news broke of the emirate's problems, analysts predict.

"It's a very serious and severe problem that is likely to shake up the Gulf financial system as a whole. I expect Gulf bourses to dive like the September crash last year" following Lehman Brothers' bankruptcy, warned Saudi economist Abdulwahab Abu-Dahesh.

Abu Dhabi, Dubai's oil-rich neighbour in the United Arab Emirates, is widely expected to use some of its wealth to rescue Dubai, but speculation is rife about what conditions it might impose.

"Abu Dhabi could quite easily resolve the problems for Dubai if it wanted to but the question is how and at what price," said economist Jan Randolph, director of sovereign risk at the IHS Global Insight consultancy.

"Part of this price now seems to involve the creditors that are effectively being asked to share in the restructuring efforts."

Dubai World, a state-controlled conglomerate whose businesses include global ports operator DP World and construction giant Nakheel, announced on Wednesday that it was seeking to suspend debt payments for six months while the group is restructured.

The contract most directly affected is the redemption due in December of a 3.5-billion-dollar (2.9 billion euro) Islamic bond issued by Nakheel, the company behind Dubai's iconic Palm Jumeirah tree-shaped artificial island.

The emirate's borrowings are the equivalent of a full year's gross domestic product, and Dubai World's overall debt of 59 billion dollars comprises three-quarters of the emirates' total debt.

Dubai's government chose to unveil the shock debt moratorium request immediately before a four-day break for the Muslim holiday of Eid al-Adha, giving regional stock exchanges no chance to react.

European markets partly recovered on Friday after sharp falls a day earlier, but analysts expect the Dubai and Abu Dhabi markets to weaken on Monday when they reopen.

Elsewhere in the Gulf, investors must wait even longer -- the Kuwait and Qatar bourses resume trade on Tuesday, Bahrain on Wednesday and Saudi Arabia on December 5.

Oliver Bell of Swiss bank Pictet thinks the Dubai World crisis is a "disaster" for Middle East and North Africa equity markets, and is braced for a big sell-off, he told the UK's Citywire financial news website.

When news of Dubai World's problems first broke, he "hoped it was a miscommunication," but a later statement from Sheikh Ahmed bin Saeed al-Maktoum, head of Dubai's Supreme Fiscal Committee, confirmed Bell's worst fears.

"This was more alarming as it suggests it has been carefully planned and they knew markets would be very concerned. Now we are in a vacuum of no news again," he said.

"If all news stays as it is the UAE market will sell off very sharply when it reopens after Eid," Citywire quoted Bell as saying.

On Thursday, Sheikh Ahmed said "further information will be made available early next week," but Randolph said Dubai World's announcement has raised many questions that will be hard for Dubai to answer.

"This was a crisis waiting to happen; all the tell-tale signs were there. Many creditors assumed that the Dubai government/sovereign would support their investment and invested companies -- this is now in question," the analyst said.

Randolph pointed out that Abu Dhabi has the "all-important" oil wells and still generates trade surpluses from its exports.

"Abu Dhabi is virtually debt-free and has huge assets -- including the largest Sovereign Wealth Fund in the World with 400 to 500 billion dollars in assets and at least four other smaller SWFs and finally foreign exchange reserves at about 33 billion dollars," he said.

But the economist believes Dubai needs to face up to its difficulties rather than rely completely on help from its richer neighbour.

"It is necessary that Dubai goes through this restructuring, to sort out the good assets from the bad, that which has an economically viable future and that which does not," Randolph said.

The Financial Times said on Saturday: "Dubai must sort this mess out. It will not now be able to restore confidence in its solvency without support from Abu Dhabi."

"For its part, Abu Dhabi should give whatever help is needed to bring this episode of incompetence to a close. Abu Dhabi allowed it to be believed that it was backstopping Dubai, so it should make good its promises.

"This will require a public guarantee of Dubais debts -- and soon. The reputation of the whole UAE depends upon it."

The Dubai market's DFM Index closed on Wednesday at 2,070.89, up more than 40 percent from the start of the year but still down by two-thirds from its peak of 6,253.10 two years ago.

Rules stipulate that it cannot fall by more than 10 pct in one day.

Related article: Dubai ruler's dream turns sour

 

[hairylee]

Durai is still in Dubai.

 

[kensington]

Dubai without money is, well not Dubai...

There are some rocks, a lot of sand, some muslims and a lot of flies and and plenty of camel shaggers.

Though by recent standard, their meltdown ought to be considered small and manageable but once the unloading of their most prestigious portforlios, as usual, those in the know will somehow make a killing and escape but the poor mom-and-dad investors will be left holding the bills for all the past excessive philanderings and sex on the beach...

What does Dubai owned in Singapore, anyway ? They will be on firesale soon enough.

 

[Churuya]

Oil will probably run out someday and get replaced by alternatives (fusion power, biodiesel).

However, singapore's economy is driven by some other mechanism altogether. To provide an an analogy, we are the valve in the world's shipping and logistical network.

Why do MNCs still come to us to do business here? Because it makes sense to place things at the centre of the distribution network. Not because of our million dollar ministers.

If we have to pay anybody a million dollar salary it would be to provide solutions, (not descriptions) of problems we face in everday life in Singapore. (e.g. Foreign labour, maid, public transportation, family friendly policies, cheap housing etc.)

 

[Debonerman]

CDL studies fallout of Dubai World move on South Beach
Posted by luxuryasiahome on November 27, 2009

City Developments Ltd (CDL) is studying news of a restructuring of Dubai World, which is a partner in a CDL-led consortium that will develop the landmark South Beach site in Singapore.

‘This is a new development and we will study this matter, in consultation with our other partners. If necessary, we will respond again in due course,’ a CDL spokeswoman said yesterday evening.

Construction of the 99-year leasehold project – which will have offices, luxury hotels, retail space and residences – has been delayed.

The Government of Dubai has announced its intention to restructure the emirate’s biggest corporate debtor. Dubai World would ask all providers of financing to itself and its affiliate Nakheel to ’stand still’ and extend maturities of the debt until at least May 30, 2010.

In 2007, CDL, Dubai World and El-Ad Group teamed up to buy the South Beach site for $1.69 billion at a Singapore government tender. In November last year, CDL announced a deferment of the project’s construction until construction costs eased.

CDL executive chairman Kwek Leng Beng said in August this year that construction is likely to begin around Q3 2010 with CDL and a new investor, Hong Kong developer Nan Fung, probably the ones that will pump in further money.

El-Ad and Dubai World are likely to be passive investors who may then see their share in the project diluted.

Nan Fung came into the picture in June this year when it subscribed for $205 million of five-year secured convertible notes under a refinancing exercise for a loan on the 3.5-hectare site. CDL also subscribed for the remaining $195 million of the notes.

The consortium refinanced an earlier $1.2 billion loan that matured in June this year by a combination of an $800 million two-year secured bank loan and the $400 million convertible notes.

In 2007, CDL subsidiary City e-Solutions inked a joint venture with Dubai World unit Istithmar to set up a chain of 30 budget hotels across South-east Asia over three years.

The US$50 million joint venture also included Tune Hotels.Com, which was to have developed and operated the hotels. Tune Hotels.Com is owned by the founders of the AirAsia budget airline.

City e-Solutions has since exited the joint venture.

Source : Business Times – 27 Nov 2009

 

[kensington]

With black gold at US$76 per bbl today, Dubai has no big problem. It is a city surrounded by oil rich neighbors, Dubai is literally soaked in black gold @ US$76 per bbl.

But not for Singapore. No oil here. Only Jumban NeWater aka Sai-Chwee.

No rich neighbors to bail Singapore out, sorry.

Racially religiously and culturally the red dot is is uniquely Singapore around the region. Politically and financially as well and especially.

Singapore's most precious asset is her citizenry and the willingness to work any conditions to ensure survival.To tar the Singaporeans and the fatcat lazy Arabs with the same brush is unjustified and an insult.

 

[Debonerman]

All becos they don't have parasite asshole like you....:p

tiulehloumohkohai mudskipper, lancheowman, lnchwmn 1,2,3,4,,5 and all the tiu clones..lol... . So, had you gone for an operation to tighten that arsehole of yours from all the sodomising done on your arse by your platoon mates in SAFGU?
Even tho' in your fifties now, arseholes like yours can still be surgically tightened to feel just like a virgin's!:p
Poor thing, while they fucking your arse and cursing your father and mother, it must have left a psychological scar on you to this day! Go get help! SAFGU guard dog!:oIo:

 

[flkyflky]

we are the valve in the world's shipping and logistical network.

No more liao SG is replaced by Northpole route for shipping since the polar icecap melted in global warming. The shipping between Asia (PRC Japan Korea) & EU + Russia can entirely by-pass SGP & Indian Ocean. Just go north above Russia which is a great fuel and time saving shortcut.

SG is dead.

 

[tiuroyston46asshole]

tiulehloumohkohai mudskipper, lancheowman, lnchwmn 1,2,3,4,,5 and all the tiu clones..lol... . So, had you gone for an operation to tighten that arsehole of yours from all the sodomising done on your arse by your platoon mates in SAFGU?
Even tho' in your fifties now, arseholes like yours can still be surgically tightened to feel just like a virgin's!:p
Poor thing, while they fucking your arse and cursing your father and mother, it must have left a psychological scar on you to this day! Go get help! SAFGU guard dog!:oIo:

hey asshole, so work out when I assed your asshole bro...bow bow .....

 

[Debonerman]

hey asshole, so work out when I assed your asshole bro...bow bow .....

tiulehlohmohkorhai mudskipper lancheowman, are you going through another one of loony phases as a result of having been sodomised by your platoon mates in SAFGU some thirty odd years ago while at the same time verbally abusing your parents sexual organs? I told you to get help from a shrink didn't I? By the way, had that clitoris for a dick of yours grown another half inch since then? Keep changing nics to play around for what. Did your platoon mates made you change panties when they were fucking you?:oIo:

 

[jacobsgoh]

In Dubai you will never find HDB flats. You will never find old citizens carting card boards, selling tissue paper, picking aluminum cans, cleaning Mc Donald toilets or airport toilets etc.

In Dubai you will never find ministers paying themselves million dollars even when they are so oil rich.

In Dubai you will never find NKF crooks and Ren Ci monks.

In Dubai they don't fucking HOTA your organs.

In Dubai you don't have to get cheated your CPF savings.

In Dubai you don't get $fined $ERP $Road$TAX.

In Dubai you get chewing gum legally.

In Dubai you don't drink NeWater.

In Dubai they don't do NDP bullshit.

In Dubai they don't vote by GRCs.

In Dubai they don't have MSK to flee ISD.

In Dubai they don't have to jump MRT.

In Dubai they don't have to need Parents Maintenance Act.

In Dubai they don't get Nicoll Highway explosion and cave-in.

The UAE airline don't take off the wrong runway like World Class SQ006.

May i add that:- In Dubai the govt don't give 'Freebies' near elections.

 

[TeeKee]

i really suspect substantial of lau lee's assets are lost in this Dubai World fiasco!