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Dubai in serious trouble

So sell when you still can.

abc2xyz      ( Date: 30-Nov-2009 10:43) Posted: I believe the world market will come to a drastic end with so many absconders and collapses. Nowadays people are more dishonest than before.  They are better equiped with technology and computer wizardry to cheat without being discovered until it is too late.  The end is nigh. 2012 is 20th december 2009, and not 20th Dec 2012.

 

 

I believe the world market will come to a drastic end with so many absconders and collapses. Nowadays people are more dishonest than before.  They are better equiped with technology and computer wizardry to cheat without being discovered until it is too late.  The end is nigh. 2012 is 20th december 2009, and not 20th Dec 2012.

 

Hang seng index opened strongly and up around 600 points. If the futures market also shows the resilience to dubai effect then STI will also move upwards. Good time to collect stocks.  

Happy trading. 

 

they have few projects there.... so it might be cancel or affected some way. Good luck.

cheongwee      ( Date: 30-Nov-2009 02:42) Posted: what have Dubai got to do with sinotel and sinomem, and swiber??? guy just buy for big profit... i thk sti down on the basic of capitaland and those bank suspect to have ecxposure to Dubai.. mid cap and penny to remain as usual... but come 2010...it is going to be Eastern Europe turn..since communism colapse...Western Europe have loan their Eastern bros..some 1.7T euro...with the crises...their Estern Euope are in deep shit default on the loan for sure... and more ARM to reset in May 2010...this time even prime also sky rocket...in the US... i think Dubai maybe opn the flood gate to all those fund still sitting on the side line...

 

Next.... crude oil price may crash to USD. 8.00 perhaps, while the day USA will print enough USD 10,000 notes will come? Ha. ha.. ha...

cheongwee      ( Date: 30-Nov-2009 02:42) Posted: what have Dubai got to do with sinotel and sinomem, and swiber??? guy just buy for big profit... i thk sti down on the basic of capitaland and those bank suspect to have ecxposure to Dubai.. mid cap and penny to remain as usual... but come 2010...it is going to be Eastern Europe turn..since communism colapse...Western Europe have loan their Eastern bros..some 1.7T euro...with the crises...their Estern Euope are in deep shit default on the loan for sure... and more ARM to reset in May 2010...this time even prime also sky rocket...in the US... i think Dubai maybe opn the flood gate to all those fund still sitting on the side line...

 

Dubai World break-up showed that oil money is not always mighty and economics prevails. Time for singapore companies to buy their port facilities and infra-structure businesses (our competitor) at cheaper price....

 

what have Dubai got to do with sinotel and sinomem, and swiber???

guy just buy for big profit...

i thk sti down on the basic of capitaland and those bank suspect to have ecxposure to Dubai..

mid cap and penny to remain as usual...

but come 2010...it is going to be Eastern Europe turn..since communism colapse...Western Europe have loan their Eastern bros..some 1.7T euro...with the crises...their Estern Euope are in deep shit default on the loan for sure...

and more ARM to reset in May 2010...this time even prime also sky rocket...in the US...

i think Dubai maybe opn the flood gate to all those fund still sitting on the side line...

 

7 cousins, less one for voting power or maybe 6 left, still someway to go B4 swopping up those US$60 billion borrow by Dubai reckless drive to built world tallest building and palm shape 7* resort, been in-experience trying to stand on world stage and trying to be one, young and untry. Dubai seem not lesson it lesson for now. US$60 billion in default payment.

178investors      ( Date: 29-Nov-2009 00:51) Posted: i agree.... investors and traders shouldn't panic. Why? This is just Dubai, not the whole Emirates (UAE). Dubai is just one emirate or city that is in trouble. Abu Dhabi is standing strong and in fact, is waiting to let Dubai learn a painful lesson in how not to play fire with leverage. Everyone knew long ago that Dubai (the reckless cousin) has been behaving recklessly for a long time but were unwilling to voice their dissenting voice while the reckless fellow was enjoying his limelight. History is full of such people, places, etc that eventually come to griefs. Like the building of the biblical Tower of Babel. Abu Dhabi will chip in to rescue its cousin but of course, at a high price for Dubai. Those young turks that run Dubai in the wild days will be troughed out and replace by the more seasoned stable hands. Dubai, Goodbye. Time for a Reality Check! smartrader      ( Date: 29-Nov-2009 00:07) Posted: stay calm... storm in cup of tea...

 

U.A.E. Central Bank Stands Behind Lenders, Adds Funds (Update1) Share Business ExchangeTwitterFacebook| Email | Print | A A A By Arif Sharif Nov. 29 (Bloomberg) -- The United Arab Emirates’ central bank said it “stands behind” the country’s local and foreign banks, which face losses from Dubai World’s possible default, and offered them access to more money under a new facility. The central bank will make available to banks “a special additional liquidity facility linked to the current accounts” at the central bank that can be drawn upon at a cost of 50 basis points above the three-month Emirates inter-bank offered rate, the Abu Dhabi-based regulator said in an e-mailed statement today. Dubai World, a state-owned holding company struggling with $59 billion of debt and other liabilities, said Nov. 25 it would seek a “standstill” agreement with creditors. The news led to a slump in financial markets around the world and raised prospects of rising loan write-offs for U.A.E. and foreign banks. “This is a very re-assuring move by the central bank in order to limit the risk of any run on Dubai-based banks,” said John Sfakianakis, chief economist at Banque Saudi Fransi in Riyadh. It will alleviate any “liquidity concerns by foreign banks about the banking system, mostly those based in Dubai,” he said. The U.A.E.’s banking system is “more sound and liquid than a year ago” and local banks’ sale of medium-term notes and commercial paper in foreign markets has declined by 25 percent over the period, the central bank said. Foreign interbank deposits make up only 5 percent of overall interbank deposits, the central bank said in the statement. To contact the reporter on this story: Arif Sharif in Dubai at asharif2@bloomberg.net Last Updated: November 29, 2009 08:42 EST

 

Seems like someone has devised a good strategy to raise the value of US currency......a great success.

An opportunity to load in some counters for Christmas celebration......



 

 

 

i agree.... investors and traders shouldn't panic.

Why? This is just Dubai, not the whole Emirates (UAE). Dubai is just one emirate or city that is in trouble. Abu Dhabi is standing strong and in fact, is waiting to let Dubai learn a painful lesson in how not to play fire with leverage. Everyone knew long ago that Dubai (the reckless cousin) has been behaving recklessly for a long time but were unwilling to voice their dissenting voice while the reckless fellow was enjoying his limelight. History is full of such people, places, etc that eventually come to griefs. Like the building of the biblical Tower of Babel.

Abu Dhabi will chip in to rescue its cousin but of course, at a high price for Dubai. Those young turks that run Dubai in the wild days will be troughed out and replace by the more seasoned stable hands.

Dubai, Goodbye. Time for a Reality Check!

smartrader      ( Date: 29-Nov-2009 00:07) Posted: stay calm... storm in cup of tea...

 

stay calm... storm in cup of tea...

 

Local companies with exposure to Dubai world - to avoid.

1. DBS (Islamic banking branch in Dubai)

2. City Dev (two-third of South Beach Proj owned by middle eastern investor, of which Dubai owns one-third).

3. Ascott Reits (operate 3 service apts in Dubai)

4. UOB, OCBC, DBS (syndicate loan to South Beach Proj).

5. SMRT

6. Any others ? Please add to this list.

 

avoid commodities stock   as well.......

My opinion.

 

tonylim      ( Date: 28-Nov-2009 16:28) Posted: Small caps will buck the trend - PEC, PacAndes, GoldenAgr, Midas, Ezion, Ezra tonylim      ( Date: 28-Nov-2009 16:19) Posted: Not all blue chips.  Perhaps banking stocks (esp DBS) and City Development will be affected

 

Short banking stocks!

 

Gene on National Debt Now Tops $12 Trillion

The National Debt has increased about $1.6 trillion on Mr. Obama’s watch, though less than $4.9 trillion run up during the presidency of George W. Bush.

But the White House budget review issued in August projects that by the end of the current fiscal year on Sept 30th, the National Debt could top $14 trillion.

It gets worse. The same document projects that by the end of the decade, the National Debt will hit $24.5 trillion — exceeding the Gross Domestic Product projected for 2019 of $22.8 trillion.

The new debt number adds urgency to Treasury Department calls on Congress to quickly raise the statutory limit on the National Debt which now stands at $12.104 trillion. The debt ceiling was last raised in February as part of the $787 billion Recovery Act stimulus bill.

The debt also costs a fortune to maintain. In the fiscal year just ended, the National Debt cost taxpayers over $383 billion. And that amount means the government is only paying 3.3 percent interest. If interest rates go up, so does the amount paid on the debt.

And we’re paying it to scores foreign countries which hold $3.5 trillion of the U.S. Debt.
China leads the pack holding nearly $800 billion in U.S. Government securities, followed closely by Japan with $731 billion.

 

Small caps will buck the trend - PEC, PacAndes, GoldenAgr, Midas, Ezion, Ezra

tonylim      ( Date: 28-Nov-2009 16:19) Posted: Not all blue chips.  Perhaps banking stocks (esp DBS) and City Development will be affected. Hulumas      ( Date: 28-Nov-2009 16:02) Posted: Up to you

 

Not all blue chips.  Perhaps banking stocks (esp DBS) and City Development will be affected.

Hulumas      ( Date: 28-Nov-2009 16:02) Posted: Up to you! Raindrops      ( Date: 27-Nov-2009 22:35) Posted: Hmm... is it wise to sell all the blue chips on monday?

 

Up to you!

Raindrops      ( Date: 27-Nov-2009 22:35) Posted: Hmm... is it wise to sell all the blue chips on monday?