VOA标准英语2009年-Dubai Government Will Not Back Debts o

A top finance official in Dubai says the emirate's government will not guarantee the debts of the heavily-indebted, state-owned conglomerate¹ Dubai World.

VOA News 30 November 2009

Lenders bear some responsibility for the current crisis Finance Department director general Abdulrahman al-Saleh said.

A top finance official in Dubai says the emirate's government will not guarantee the debts of the heavily-indebted, state-owned conglomerate Dubai World.

Stock markets in Dubai and other parts of the United Arab Emirates plunged² Monday, with investors³ concerned about Dubai's ability to pay back $59 billion in debt.

The Dubai market dropped 7.3 percent while Abu Dhabi's index tumbled 8.3 percent.

The director general of Dubai's Finance Department, Abdulrahman al-Saleh, says lenders bear some responsibility for the current crisis.

He says they lent money based on their assessment⁴ of the firm's projects, not because of government guarantees.

The official says while Dubai owns Dubai World, it has been known since the conglomerate was established that it was independent and not guaranteed by the government.

The debts grew out of Dubai's property boom, which included unique projects like palm-tree shaped islands and work on the world's tallest building.  The once rapidly growing city-state has been hit hard by the global financial crisis. 

The UAE stock exchanges opened Monday for the first time since Dubai World asked last week to delay debt repayments⁵ by six months.  The markets had been closed for the four-day Muslim holiday of Eid al-Adha.

On Sunday, the UAE's Central Bank said it would make more loan money available to its banking⁶ sector⁷ in an effort to ease the crisis.

World stock markets dropped last week as investors worried the Dubai credit crisis could affect emerging economies and major banks with loans to the Gulf⁸ state.

Some information for this report was provided by AP, AFP and Reuters.

 

1 conglomerate   

n.综合商社，多元化集团公司

参考例句：

• The firm has been taken over by an American conglomerate.该公司已被美国一企业集团接管。
• An American conglomerate holds a major share in the company.一家美国的大联合企业持有该公司的大部分股份。

2 plunged   

v.颠簸( plunge的过去式和过去分词 )；暴跌；骤降；突降

参考例句：

• The train derailed and plunged into the river. 火车脱轨栽进了河里。
• She lost her balance and plunged 100 feet to her death. 她没有站稳，从100英尺的高处跌下摔死了。

3 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

4 assessment   

n.评价；评估；对财产的估价，被估定的金额

参考例句：

• This is a very perceptive assessment of the situation.这是一个对该情况的极富洞察力的评价。
• What is your assessment of the situation?你对时局的看法如何？

5 repayments   

偿还，报答，偿付的钱物( repayment的名词复数 )

参考例句：

• The repayments of the loan are spread over 10 years. 贷款可在十年内分期偿还。
• The repayments of the loan are spread over 25 years. 这笔贷款分摊二十五年偿还。

6 banking   

n.银行业，银行学，金融业

参考例句：

• John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
• He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

7 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。

8 gulf   

n.海湾；深渊，鸿沟；分歧，隔阂

参考例句：

• The gulf between the two leaders cannot be bridged.两位领导人之间的鸿沟难以跨越。
• There is a gulf between the two cities.这两座城市间有个海湾。