From Al Jazeera. Presumably, Dubai is "too big to fail" from Abu Dhabi's point of view, and the rest of the world seems relieved as well, given the reaction of global markets.
Dubai's government has said it has received $10bn from Abu Dhabi to help it repay an Islamic bond and fund the troubled property developer Dubai World.
The announcement on Monday came as Nakheel, the property development unit of the Dubai World investment fund, was due to settle the $4.1bn bond.
The move by Abu Dhabi follows weeks of uncertainty in Gulf stock markets prompted by Dubai World's request on November 25 for more time to pay $26bn in debt.
Monday, December 14, 2009
Dubai gets their bailout
Abu Dhabi waited till the last minute, but they've come to Dubai's rescue: