Dubai rout source:S&P ratings agency

UAE officials and media have criticized global markets and media over the past few days for overreacting to Dubai World's restructuring plan and "mixing up" the corporation with the government.

The announcement, described by ratings agency Standard and Poor's as a default, provided the focus for world financial markets and media since last Thursday, hitting bank stocks worldwide and arousing concerns for another wave of financial crisis.

United Arab Emirates (UAE) Vice President Sheikh Mohammed bin Rashid Al Maktoum, who is also prime minister of the UAE and ruler of Dubai has called on the media to "search for the truth, uphold credibility and judge by conscience above all, so as to earn public trust and respect."

Celebrations for the 36th UAE National Day are taking place across the country.
The economy of Abu Dhabi is largely based upon the revenue generated from natural resources. Petroleum and natural gas play a vital role, although some other sectors are also emerging in order to support the city’s economy due to the global depreciation of fossil fuels.
The Abu Dhabi Investment Authority (ADIA) is currently estimated at $875 billion, being the world’s wealthiest sovereign fund, in terms of total asset value.

To boost the tourism industry, fancy hotels and entertainment facilities have been constructed all over Abu Dhabi. The latest instalment is a branch of France’s Louvre Museum on the attractive Saadiyat Island. This extraordinary oil exporting island has been transformed into a luxury resort with art centres and shopping malls.
Global Village, a member of Tatweer and the region’s entertainment, shopping, and cultural attraction located in Dubailand, will host an exciting array of festivities to mark the 38th UAE National Day on Wednesday, December 2.

The city is split into two by the Dubai Creek; to the west Bur Deira, where you’ll found the Gold and Spice Souks and to the east Bur Dubai where you’ll find the financial district dominated by the Emirates Twin Towers.

Reaction To The Decision Of Restructuring Dubai World Was exaggerated: Director General Of Dubai Finance Department

The Dow on Tuesday 1/12/09 is 13 market days to Quadraple Witching.

Nikkei Futures Expiry:8 market days.
9:30am:-Bullish 100.00 points gap up.

10:30am:--Pullback to MAV support with dragonfly doji.

11:30am:--Morning high shooting star.

12:30noon:--Pullback time but held above the bull pivot.

1:30pm:--A new day's high opener held back by a shooting star.

2:30pm:--Bearish hammer.

3:30pm:--Another bearish hammer being engulfed.

4:00pm:--A weak bull closing,follow through might see a slight hammering.

A flurry of good economic data on pending home sales for October,the ISM Manufacturing Index for November which are to expectations further boosted the market stting aside the Dubai's debt debacle .

The Dow's main aim is to pierce through the 52 weeks high breakout so meantime there'll be intermittent air pockets bumps and turbulence during the ride.