VOA标准英语2009年-Global Markets Edge Higher as Dubai's

The government-owned company, Dubai World, has reassured¹ investors² abroad by revealing details of its restructuring plans, nearly a week after hinting it may not have enough money to repay its debts.

Phillip Wellman | Dubai 01 December 2009

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Kuwaiti investors following the financial news at the Kuwait Stock Exchange on Tuesday, 1 Dec. 2009

The government-owned company, Dubai World, has reassured investors abroad by revealing details of its restructuring plans, nearly a week after hinting it may not have enough money to repay its debts.  

Dubai World says it will restructure $26 billion in debt, less than half of the nearly $60 billion it owes.

The new scheme will look at options for deleveraging, including asset sales, and will apply to the conglomerate's main property firms, Nakheel and Limitless.  Its smaller companies will not be covered.

The head of Middle East research at Swiss-based financial firm UBS, Saud Masud, says it is a step in the right direction.

"I think, structurally³ this is a long-term positive with some short-term pain," Masud said.

Asian and European stocks were up, Tuesday, following news of the restructuring.  However, it was a different story back in the United Arab Emirates, where the main indexes in Dubai and Abu Dhabi fell shortly after opening.

Both were down by about six percent, after recording⁴ even higher losses on Monday.

Masud says the situation has most people in the UAE feeling vulnerable.

"If you walk around and look at what the everyday person is thinking," Masud said. "They're clearly concerned with what restructuring or what type of debt renegotiation, will mean for them and their companies."

Dubai World helped transform Dubai into a regional hub for finance.  It sent markets across the planet tumbling, last week, when executives asked creditors⁵ for a six-month extension on repaying its debts.

Monday, the emirate's government announced it would not provide the company with a bailout.

Officials say they want to set the record straight that, although Dubai owns Dubai World, the company is independent and not guaranteed by the government.

Dubai World's debts grew from projects initiated⁶ during Dubai's property boom, including man-made islands in the shape of palm trees and the world's tallest building.

 

1 reassured   

adj.使消除疑虑的；使放心的v.再保证，恢复信心( reassure的过去式和过去分词)

参考例句：

• The captain's confidence during the storm reassured the passengers. 在风暴中船长的信念使旅客们恢复了信心。 来自《现代英汉综合大词典》
• The doctor reassured the old lady. 医生叫那位老妇人放心。 来自《简明英汉词典》

2 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

3 structurally   

在结构上

参考例句：

• The house roof was (structurally) unsound. 这屋顶（结构）不牢固。
• Pinhole on shot-hole damage is never structurally significant. 针孔和蛀洞所造成的危害对结构的影响不大。

4 recording   

n.录音，记录

参考例句：

• How long will the recording of the song take?录下这首歌得花多少时间？
• I want to play you a recording of the rehearsal.我想给你放一下彩排的录像。

5 creditors   

n.债权人，债主( creditor的名词复数 )

参考例句：

• They agreed to repay their creditors over a period of three years. 他们同意3年内向债主还清欠款。 来自《简明英汉词典》
• Creditors could obtain a writ for the arrest of their debtors. 债权人可以获得逮捕债务人的令状。 来自《简明英汉词典》

6 initiated   

n. 创始人 adj. 新加入的 vt. 开始，创始，启蒙，介绍加入

参考例句：

• He has not yet been thoroughly initiated into the mysteries of computers. 他对计算机的奥秘尚未入门。
• The artist initiated the girl into the art world in France. 这个艺术家介绍这个女孩加入巴黎艺术界。