A new report by Moody's Investors Service says UAE banks, which are owed about $15bn by Dubai World, may be able to absorb losses if they are repaid 60 cents on the dollar, Bloomberg has reported. 'UAE banks would incur losses amounting to only around 9% of their capitalisation as of year end 2009,' the report said. 'This would hurt 2010 profits, but not jeopardize solvency.'
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