WHY DOES DUBAI MATTER ?

Why does Dubai matter?

Because the UAE is India's largest non-oil trading partner. Because one-third of India's remittances come from the Gulf.

Because it will affect personal wealth, air traffic between the two countries and real estate investments

COMPANY PROFITS COULD BE AFFECTED

Stock prices of firms with investments in the UAE fell on Friday 4.91%

Bank of Baroda: Has Rs10,000 cr exposure to UAE, but bank says no concern about this portfolio 4.77%

Thomas Cook (India) Ltd: Dubai Financial has 60% stake in the company worth $123 million 4.48%

Nagarjuna Construction: Has Rs100 cr equity in a construction project in Dubai 4.44%

SpiceJet Ltd: Istithmar PJSC (a private equity fund) has a 13.4% stake worth $50 mn 2.96%

Gammon India Ltd: Has a token presence, builds satellite cities 2.74%

Sobha Developers Ltd: Promoter owns stakes in 2 hotel and residential projects in Dubai 2.55%

Larsen & Toubro Ltd: Has been the most aggressive company in the Gulf states, but says exposure limited to $25 mn now 2.08%

Simplex Infrastructures Ltd: Exposure likely limited to less than Rs300 cr 1.04%

DLF Ltd: Limitless, a Dubai Co, has already pulled out of a partnership with DLF for 3 Indian township projects 1.7%

BSEL Infrastructure Realty: Has plans to build a waterfront project and 6 towers in Emirates City