Dubais stock market has fallen for the second contiguous day on continuing fears about the main companies capability to repay debts.
The major Dubai Financial Market index fell 6.1%, after last down almost 6% on Monday.
Before two weeks, the World of Dubai asked for a six-month retard on debt payments. Credit agencies have since downgraded many leading Dubai companies.
The Dubai index has now fallen with more than 20% since the extension supplication.
One of Dubai Worlds first major payments to bondholders in its estate firm Nakheel is due next week.
‘Up till there is some clarity in debt restructure, there will not be some earnest buyers (of shares),’ said Julian Bruce at EFG Hermes Holding in Dubai.
‘The closer we get to the Nakheel deadline with no news, the worse it will be.’
Dubai World has some esteemed priority, notably its ports business, which includes Londons Tilbury Docks and Frances Le Havre.
Other items in its wide-ranging investment portfolio include the luxury retailer Barneys of New York, a list of high-end US hotels, and the Canadian acrobatic circus franchise, Cirque du Soleil.