Abu Dhabi to swoop to Dubai's rescue?

Abu Dhabi is moving to bail out on a selective basis the state-owned Dubai World, whose debt default led to a sharp drop in global markets, a senior official has said. The unnamed official told news agencies on Saturday that the United Arab Emirates' wealthy capital would "pick and choose" how to assist its debt-laden neighbour. "We will look at Dubai's commitments and approach them on a case-by-case basis," the official told the Reuters news agency by telephone, adding: "It does not mean that Abu Dhabi will underwrite all of their debts."
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