迪拜債務(wù)藍調(diào)【外文翻譯】

1、外文題目：Dubai’sdebtblues出處：InstitutionalInvest，2010（2）:p7074作者：Townsend.MarkAbstract:ThearticlefocusesonthefinancialconditionofDubaiUnitedArabEmirates.ItisexpectedthatthefinancialstateofDubaiwillbewsendeteriatedinthecomingw

2、eeksItishoweversaidthatfarmingfearsofalargeeconomiccrisesintheregionpromptingfreshconsiderationaboutwhetherunderwhatcircumstancesAbuZabyUnitedArabEmirateswillprovideadditionalassistancesuppt.Theproblemsofdebthavealargeim

3、pactintheUnitedArabEmirates.Keywds:Dubai’sdebtcrisis；assistance；withdrewitsratingsThebrashemiratehaswardedoffdefaultbutitneedsbroaderdebtrestructuringrefmtoregainitseconomicleadership.Whatdoes$10BillionbuyFtheoilrichemir

4、ateofAbuDhabiwhichrecentlycametotherescueofitsheavilyindebtedneighbDubaitheanswerseemedtobestabilityaswellaspoliticalcommercialinfluence.Butthecostofthosepreciouscommoditiescouldbesettorisedramatically.WithindaysofAbuDha

5、bisDecemberbailoutDubairenameditsnewlmark160stytowertheBurjKhalifainhonofSheikhKhalifabinZayedAINahyantheemirofAbuDhabi.TheassistancealsocalmedfinancialmarketsintheGulfaroundthewld.Dubaisfinancialconditionappearstohavede

6、teriatedinsubsequentweekshoweverfarmingfearsofawidereconomicfalloutintheregionpromptingfreshspeculationaboutwhetherunderwhatconditionsAbuDhabiwillprovideadditionalsuppt.DubaiWldtheemiratesflagshipholdingcompanyisseekingt

7、onegotiateaststillagreementwithlenderson$26billionindebtafternarrowlyavertingadefaultinDecember.Therescuecameinthefmofa$5billionpurchaseofbondsbytheAbuDhabicentralbankaseparate$5billionpurchaseofbondsbytheNationalBankofA

8、buDhabiAlHilalBankanIslamiclenderownedbytheDecemberona$3.5billionsukukthelargestsuchIslamicbrowing.Thatnarrowescapehoweverheightenedinvestsuncertaintyaboutholdersclaimsonasukuksunderlyingassetsintheeventofadefault.PaulMc

9、NamaraeditofanauthitativereptonsukukfinancepublishedbydleEasternfinancialinfmationproviderZawyaseesanegativeimpactonconventionalIslamicdebtmarketsintheregion.“SovereignscpatesintheGulfCooperationCouncilmayfindthereisdimi

10、nishedappetiteftheirdebtoutsideoftheregion—possiblywithintheregionitself“hesays.TherulerofDubaiSheikhMohammedbinRashidAlMaktoumhasacknowledgedcallsfgreatertransparencybypassingbydecreeareganizationlawthatpavesthewayfcomp

11、aniestoapplyfcreditprotectioniftheyareunabletorestructuredebt.TheDubaiInternationalFinancialCenterInsolvencyLawisbasedonU.K.insolvencylegislationcallsfthecreationofaspecialtribunalofthreetofiveinternationallyrecognizedju

12、dgesincludingthelikesofSirAnthonyEvanschiefjusticeofDIFCCourtsafmerHighCourtjudgeofEnglWalestosuperviseanyreganization.ThedebtproblemsrisksofadryingupoffeignliquidityarehavingawidespreadimpactintheUnitedArabEmirates.Thec

13、ountrysbanksarepayinganaveragespreadof360basispointsoverLIBontheirsenidebtcurrentlyupfromamodest25to40basispointspreviouslypointsoutKronfol.“FundingcostshavebeenrisingespeciallyaftertheNovember25DubaiWldrestructuringanno

14、uncement“saysJohnTofaridesananalystatMoodysdleEast.OnlyNationalBankofAbuDhabiAbuDhabiCommercialBankmanagedtodrawontheirexistingmediumtermnoteprogramsbefeNovemberhenotes.“FtherestofthebanksespeciallyDubaibasedbankstheunce

15、rtaintythattheDubaiWldrestructuringrequestcreatesputsmepressureonfundingcosts.“BanksintheGulfhavebeenhithardbytheriseinfundingcostsfsenidebtsincethecollapseofLehmanBrothersHoldings.GiambattistaAtzenivicepresidentofcpatet