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On 14 December 2009, UAE’s stock market shot up in excess of 10% following the announcement of the due repayment of $ 4.1 billion to the Sukuk holders of Nakheel Development Limited following a $ 10 billion support payment from Abu Dhabi to the Government of Dubai.
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Most businesses in the United Arab Emirates are practiced by way of commercial agencies. In the UAE such arrangements are governed by Federal Law number 18 of 1981 (the “Commercial Agency Law”).
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