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04/08/2009 00:00 AST
The central bank of the UAE probably will be among the biggest buyers of more bonds being sold by the Dubai government, Barclays Capital said. The central bank may subscribe alongside a few Dubai-based banks, Barclays Capital economist Alia Moubayed said in e-mailed comments. Governor Sultan bin Nasser al-Suwaidi has said the UAE may buy part of Dubai's bond sale after purchasing the first in tranche February. Dubai is raising funds to help state-controlled companies through the global credit crisis and has issued a decree setting up a company to manage the proceeds, the emirate's Department of Finance has said.
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