Bankers are expecting a formal request for a ’standstill’ from Dubai World, concerning its $26bn debt at Monday’s creditor meeting, Reuters has reported. Quoting bankers, the report added it could be more than a month before banks agree.

Bankers expect Dubai World to make a formal request for a standstill on its $26 billion (16 billion pounds) debt at Monday’s creditor meeting, but it could be more than a month before banks agree, bankers said on Friday.

* Formal standstill request expected on Dubai World Monday

By providing a $10 billion lifeline to Dubai on Monday, oil-rich Abu Dhabi has granted its debt-stricken neighbor a critical short-term reprieve from its creditors.

World markets rise on the news. Even though the aid will cover a payment due Monday, spendthrift Dubai remains heavily in debt. Abu Dhabi rescued debt-ridden Dubai on Monday with a $10-billion bailout package that lifted world financial markets but left unclear how the glittering emirate by the sea would recover from investors’ jitters and a troubled real estate market.

DUBAI, UNITED ARAB EMIRATES — Oil-rich Abu Dhabi on Monday said it would provide $10 billion to pay the debts of a troubled real estate company owned by neighboring Dubai, helping avert what some analysts said could be a new crisis among overstretched governments.

Stocks closed at 14-month highs on Monday as Abu Dhabi’s $10 billion in aid to help Dubai avoid default eased concerns and a takeover deal by Exxon Mobil Corp raised optimism about mergers and acquisitions activity.

Investors left the safe haven of the dollar Monday as Dubai’s $10 billion bailout eased worries over global credit problems, while the euro rose despite anxiety about government debt and credit in euro-zone nations Greece and Spain.

U.S. stocks rose on Monday as Abu Dhabi’s $10 billion in aid to help Dubai avoid default eased concerns, and a takeover deal by Exxon Mobil Corp raised optimism about mergers and acquisitions.

Oil-rich Abu Dhabi pumped $10 billion into its indebted neighbor Monday, sending stocks soaring and sparing Dubai and the rest of the Emirates federation the humiliation of an imminent default by one of the struggling Arab boomtown’s star companies.

Stocks edged higher Monday after a bailout of the troubled emirate of Dubai helped allay concerns that another wave of global credit problems might be on the way.

NEW YORK — Stocks edged higher Monday after a bailout of the troubled emirate of Dubai helped allay concerns that another wave of global credit problems might be on the way.

Stocks edged higher Monday after a bailout of the troubled emirate of Dubai helped allay concerns that another wave of global credit problems might be on the way.

Stocks got a boost early Monday after a bailout of the troubled emirate of Dubai helped allay concerns that another wave of global credit problems might be on the way.

Stocks got a boost early Monday after a bailout of the troubled emirate of Dubai helped allay concerns that another wave of global credit problems might be on the way.

Abu Dhabi’s $10 billion move to help neighboring Dubai avoid default and a deal by Citigroup Inc to pay back U.S. government funds helped U.S. stocks rise in early Monday trading.