Dubai

When I heard about what happened to the private equity company Abraaj Group, based in Dubai, I immediately thought back to Dubai World nine years ago.

Highlights The risk off trade is back on and the US dollar and yen are bid while the euro is in a no win situation at this point. There are renewed concerns over the situation in Dubai (ahead of Dubai holdings’ next repayments) and China…

There are a lot of interlocking threads in the Greek saga. One consistent theme that ties all of the different threads together is the fragility of complex systems. In our globalized and complex world of finance and banking, every major…

The last I had heard about a prospective Gulf currency union came yesterday morning in a note by Marc Chandler who is the Chief Strategist at Brown Brothers Harriman’s FX group.  He indicated that he was more optimistic about a Gulf…

There will be no Dubai sovereign default. The government of oil-rich Abu Dhabi surprised investors this morning in announcing a $10 billion rescue package to pay for upcoming obligations of embattled Dubai World. Below Richard…

James Montiers Reading List - World Beta (Hat tip Tracy Alloway) Santa's not so little helper: Today's the busiest online shopping day of the year. So are they ready at the biggest grotto this side of Lapland? | Mail Online (Great…

Greece has been downgraded by Fitch Ratings to BBB+ over concerns about its budget deficit. Despite the cut, Fitch maintained a negative outlook on the country’s ratings, meaning it could fall further in the near future.  This action…

I will try to make it easier in future for readers to get an overview of the content available on Credit Writedowns by posting a week in review post like this. That way, you can drill down into the bits of the most well-received posts of…

"This is definitely a threat on the horizon," said Blaise Ganguin, the agency's European credit chief. Some 75 companies large enough to be rated face likely default in 2010 as the slow-burn effects of the crisis hit home.…

As we discuss sovereign debt levels, currencies and competitiveness, it bears remembering that interest rates are at the heart of many of these debates. To the degree debt service costs are the only measure used to determine how high a…