Dow Jones Newswires Ahead in Reporting on Dubai's Debt Plans; News Sends the Dubai Financial Market Sharply Lower
NEW YORK, March 5 /PRNewswire/ -- Dow Jones was ahead of the competition in reporting Dubai World's plans to offer creditors 60% of the money they're owed in seven years as part of an effort to restructure $22 billion dollars US of borrowing. Dow Jones subscribers were able to act on the scoop as the news sent the Dubai Financial Market sharply lower on the day, retreating 3.5%, the lowest in almost three weeks. Following the news, U.K. business secretary Peter Mandelson, urged the sheikdom's government to resolve its debt issues or risk losing the faith of international investors.
Rival news organizations Reuters and Bloomberg trailed the Dow Jones story by more than an hour, and both cited Dow Jones in their reports.
More than 438,000 financial professionals in 66 countries turn to Dow Jones for breaking news, commentary and analysis, including market-moving corporate, economic, market, financial and political news. Reporting from nearly 90 bureaus across the globe, Dow Jones publishes up to 18,000 news items each day, in 11 languages, covering all asset classes. Dow Jones products help customers build relationships, create market opportunities and enhance trust in their services.
For more information about Dow Jones Newswires, visit www.dowjones.com.
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Dow Jones & Company (www.dowjones.com) is a News Corporation company (Nasdaq: NWS) (Nasdaq: NWSA) (ASX: NWS) (ASX: NWSLV; www.newscorp.com) and a leading provider of global news and business information. Its principal products include The Wall Street Journal, Dow Jones Newswires, Dow Jones Factiva, Barron's, MarketWatch and Dow Jones Indexes. Its Local Media Group operates community-based newspapers and Web sites. Dow Jones also provides news content to television and radio stations.
SOURCE Dow Jones & Company
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