Abu Dhabi's $10 billion Dubai aid included $5 billion from banks
Dubai's $10 billion aid from Abu Dhabi in December included $5 billion previously lent by two Abu Dhabi banks.
Dubai's $10 billion aid from Abu Dhabi in December, which helped the emirate avoid default on a state-linked developer's bond, included $5 billion previously lent by two Abu Dhabi banks, an official said on Monday.The spokeswoman said the $10 billion aid included $5 billion promised on November 25 by Al Hilal Bank and National Bank of Abu Dhabi. On the same day, Dubai rocked global markets by saying it would request a standstill on $26 billion in debt linked to flagship conglomerate, Dubai World.