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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (48729)	4/19/2009 4:16:16 AM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 219891

ENBD Chairman Blames U.S. For Global Economic Downturn DUBAI(Zawya Dow Jones)--Emirates NBD Chairman Ahmed Humaid Al Tayer said Sunday the current economic downturn started in the U.S. and urged Gulf Cooperation Council and Arab governments to review the world financial system. "Central banks around the world still depend on the U.S. dollar as a unique global currency and depend on it heavily," Al Tayer said. "But I doubt the dollar will continue to be important in the future, China has major reserves of global currencies," he added. Al Tayer stressed country's savings for future generations have been impacted by devalued assets and governments must not compromise their economies. Al Tayer also said that he expects to see good profits in the 2009 fiscal year while lending conditions are also good. -By Tahani Karrar, Dow Jones Newswires, +9714 364 4965 Tahani.Karrar@dowjones.com Copyright (c) 2009 Dow Jones & Co.