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2009-12-21
Dubai- Reuters: Gulf Arab Stock Markets witnessed losses led by Dubai"s index yesterday, under the weight of selling transactions on the eve of an important meeting today between heavily indebted Dubai World and its creditors. It is expected in the meeting that world Dubai that is owned by the government to ask the banks officially to freeze loans premiums while seeking to restructure the debt of about $ 22 billion. Selling transactions included the various sectors with a decline in the leading share of Emaar Properties by %3.3 while Dubai Financial Market share lost by %4.7. Marwan Shurab, the vice president of Gulf Mena Alternative Investments said that "the beginning of the week and the absence of demand by foreigners on trading are some of the reasons behind the decline in the Dubai market yesterday."
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