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Dubai International Capital says Dubai debt manageable

Sat Nov 8, 2008 3:04am EST

DUBAI Nov 8 (Reuters) - Dubai International Capital (DIC) said on Saturday Dubai's estimated $70 billion debt was "manageable" and the Gulf's commercial hub would not need to be "bailed out" as the credit crunch hits the world's top oil exporting region.

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"It's not a question of them (Gulf investors) coming to bail out Dubai ... they will invest in Dubai if they see opportunities coming up," said Chief Executive Sameer al-Ansari on the sidelines of the World Economic Forum in Dubai.

He added that Gulf investors had a stake in the emirate's success, because they had already invested in it.

Ansari also said DIC, which is owned by the ruler of Dubai, was beginning to turn its attention back to Europe and United States as valuations were beginning to look better, although there was still some room for assets to bottom out.

(Reporting by Jason Benham and John Irish; Editing by Lin Noueihed)

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