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Dubai plan to cut state spending urges bond upturn
Dubai government bond yields tumbled the most in four weeks after the Gulf emirate pledged to halve its 2012 budget deficit as state companies confront $15.5bn in debt maturing this year. The sheikhdom, which was on the brink of default in 2009, said Dec 25 it aims to reduce spending…
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Click here to read the full story: Arabian Business