LONDON (Reuters) - Uncertainty about state-owned Dubai World's $22 billion debt restructuring is starting to weigh on the credit again, pushing up bond yields and Dubai's debt insurance costs, just six weeks after a multi-billion dollar bailout by neighbouring Abu Dhabi.

Dubai World stunned markets when it announced a debt payment standstill at the end of November. A $10 billion bail-out by Abu Dhabi has allowed the company to continue to make debt payments, but it has yet to reach a formal standstill agreement with creditors.

Five-year credit default swaps (CDS) for Dubai have risen sharply in the past week and are now quoted at 510 basis points, up about 45 bps on the week, meaning it costs over half a million dollars a year to insure $10 million of the emirate's debt for a five-year period.

"Since the Dubai World statement which came out of the blue, we have not had any sort of clarity as to how the talks are progressing, we have not had any statements or any proposals," said Nish Popat, head of fixed income at ING Investment Management Middle East in Dubai.

"We are hearing they are still talking to the banks, but it's been two months and there is still this uncertainty and lack of clarity."

The CDS surge back to levels seen just before the mid-December bailout is fuelling a rise in debt insurance costs, albeit on a smaller scale, for other regional corporates and names such as Abu Dhabi and Bahrain, according to prices from CDS monitor CMA DataVision.

Analysts say the rise comes against the backdrop of wobbly global equity markets and the debt crisis in Greece and other euro zone peripherals.

But they said a recent move by Standard & Poor's to withdraw its rating for Dubai Holding Commercial Group (DHCOG), owned by the emirate's ruler, had hit sentiment for the region.