Markets rebound after Dubai shock

Major markets have bounced back from their swoon last week, which was prompted by a sudden request for a repayment standstill from Dubai World.

Major markets have bounced back from their Dubai-induced swoon last week, which was prompted by a sudden request for a repayment standstill from Dubai World.

As banks and bondholders joined forces in response to Dubai World's plans to restructure $26bn of its debt, Dubai's ruler Sheikh Mohammed confirmed that the government would not stand behind Dubai World. He also accused the media of exaggerating Dubai's problems.

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