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Market sentiment was marked by risk averse and flight for save haven last week. The issue in Dubai World once again shook market confidence. Last Tuesday, a Dubai government official said the 6-month period, scheduled on November 25, for debt restructuring is not enough. Abdulrahman al-Saleh, head of the Dubai finance department, told reporters that 'the period of 6 months would be too short for a full restructuring. The 6-month period would focus on the creditors, the contractors and so on'.
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