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Dubai capital gradually returning

01 June 2010

Standard Chartered Bank has said capital is gradually flowing back into Dubai after Dubai World reached a debt restructuring accord with lenders, Bloomberg has reported. "Because of the settlement agreement, sentiment is slowly coming back to the market," Hassan Jarrar, managing director of Standard Chartered's UAE unit, told the news service. "Dubai is right now having some short-term pains, but you cannot erase the importance of that place," he said.

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