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December 14, 2009 1. Various, traffic on Dubai street 2. Exterior, Dubai Financial Market 3. Wide shot, traders and display screens 4. Trader looking at display screen 5. Trading figures on screen FILE: August 25, 2009 6. Wide of skyscrapers 7. Wide of buildings and water fountains 8. Water fountains 9. Mid of bridge leading to building over pool 10. Swimming pool and sun loungers 11. Swimmers in pool 12. Wide of three tall buildings under construction 13. Mid of tall buildings 14. Wide of Burj Dubai tower 15. Mid of tall building with scaffolding 16. Wide of buildings and water 17. Various of buildings lining the river 18. Wide of sandy coloured building 19. Wide of sun setting in sky STORYLINE: Dubai got a 10 (b) billion US dollar lifeline from oil-rich Abu Dhabi on Monday, securing a last-minute cash infusion aimed at preventing a default that risked sparking broader fears about the city-state's shaky finances. Abu Dhabi's bailout offered the clearest indication in months that it was willing to at least partially back its flamboyant neighbour. The 60 (b) billion US dollar debt shouldered by Dubai's chief state-owned conglomerate, Dubai World, and the city-state's unwillingness to fully stand behind the company has seriously tainted the emirate's creditworthiness. Dubai World had been up against a Monday deadline to repay a pile of loans from its Nakheel property division. Some 4.1 (b) billion US dollars of the bailout money will be used to pay off those bills. The news sent Dubai's main stock market soaring. Dubai, which owes lenders more than 80 (b) billion US dollars including Dubai World's debts, said the rest of the funds provided by Abu Dhabi will be used to cover the conglomerate's interest expenses and general business needs through the end of April, and to pay bills owed to "existing trade creditors and contractors". Bankers said the last-minute cash injection from the UAE's richest sheikdom signalled that the seven-member federation was taking a nationwide approach to tackling Dubai's problems rather than leaving the struggling emirate to fend for itself. Dubai is the second-richest of the UAE's semi-autonomous city-states, but Abu Dhabi holds nearly all the country's oil wealth and controls the federation's presidency. Dubai's ruler is the UAE's vice president and prime minister. Investors welcomed the news, which provided some clarity in a crisis that erupted late last month when the conglomerate unexpectedly said it was seeking new terms on repaying roughly 26 (b) billion US dollars of its debts. The Dubai Financial Market's main index shot up 10.4 percent by early afternoon. Abu Dhabi's stock market jumped 7.8 percent. Stocks in Asia rebounded from earlier losses after Dubai's announcement. Dubai World said in a separate statement it welcomed the financial support, which will provide "funding and a stable basis" for a restructuring the company announced last month. The company said it is pushing ahead with talks to convince lenders to agree to a "standstill" - effectively a delay - on repaying some of its debt. In another move aimed at bolstering investor confidence, Dubai's government said the UAE's central bank, based in Abu Dhabi, is prepared to provide support to local banks. Dubai also said it plans to introduce a reorganisation law that could be used in case Dubai World is "unable to achieve an acceptable restructuring of its remaining obligations". A person close to the Dubai government said the new law provided a legal framework for addressing corporate debt, though it did not mean a bankruptcy filing by state-owned companies was certain. It was not immediately clear what, if anything, Abu Dhabi would expect in exchange for Monday's funding. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/33b553d3e2fd3ad16eb5e3186ba17559 Find out more about AP Archive: http://www.aparchive.com/HowWeWork