MIDEAST DEBT-Optimism over Iran helps Dubai outperform the region
Dubai vulnerable to Gulf slowdown, higher interest rates * But bond spreads, CDS have tightened since last year DUBAI, Dec 1 As low oil prices cast a shadow over Gulf Arab economies, investors are betting that lifting sanctions on Iran will boost Dubai - a view that is causing the emirate's debt to outperform the rest of the region. The outperformance may be surprising to some investors. Dubai recovered only in the last few years from a 2009 debt crisis, and as a trade and business centre for the Gulf, it will not escape a regional slowdown ...
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