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Dubai International Capital Asks for Debt Extension

Investment firm Dubai International Capital, along with a committee of banks, requested a three-month debt extension Thursday till September 30th, though the debt size...

Dubai World Agrees Headline Economic Terms in Principle with Coordinating Committee

Dubai World (the “Company”) is pleased to announce today that headline economic terms have been agreed in principle with the Coordinating Committee (“CoCom”), representing...

Creditors to Dubai World have accepted an offer from the conglomerate,...

Lenders to Dubai World  have accepted an offer from the conglomerate to settle $14.2 billion in outstanding bank claims, according to a report in...

“Depending on how debt is managed in Dubai, foreigners will decide...

Growth in the Gulf Cooperation Council states is expected to rise to 4.4 percent in 2010 and 4.7 percent in 2011, the Washington-based Institute...

Nakheel to Pay $8.2 Billion to Creditors in June

Nakheel PJSC plans to pay creditors and contractors $8.2 billion in June, according Al Ittihad newspaper.

Assets Change Hands

Meydan on Thursday signed a memorandum of understanding under which it sold three commercial buildings located in Meydan Metropolis Phase 1 to Emirates NBD, reported Gulf...

Statement from Sheikh Ahmed Bin Saeed Al Maktoum about the restructuring...

Dubai Government Offers Dubai World $9.5 Billion in New Funds Dubai World and Nakheel will today announce proposals for the restructuring of their liabilities...

Dubai World talks with creditors look very positive

Dubai World has been locked in talks with a seven-member panel of creditors in a Dubai hotel, discussing the firm's long-awaited debt proposal. "Thing looks...

Dubai Government to help part of Dubai World proposal

Arabic language daily Al Ittihad said Dubai World would receive aid from the Dubai Financial Support Fund (DFSF) for financing operating expenses and payments...

UBS’s Masud Expects Dubai Debt Proposal in Next 2 Weeks

Saud Masud, head of Middle Eastern research at UBS AG, talks about Dubai World's plan to renegotiate about $26 billion of debt. Masud also...

UAE Macro & Cross Assets Outlook

UAE investor sentiment remains cautious Despite that the Dubai World default was averted by confirmation from Abu Dhabi government interaction, investors' sentiment remains cautious....

Dubai Ruler’s media office denied earlier report for debt arrangements

Dubai denied on Sunday an earlier Dow Jones report that it is mulling a two-part deal, including one that may repay lenders 60 percent...

Dubai Debt Crisis will affect Property Industry

Dubai’s debt crisis has weakened investor confidence and will hurt the property industry in the United Arab Emirates in 2010. The Dubai government’s announcement of...

Damas set to sign $1.08 bln Debt Standstill

Damas, the region's largest jewelry company, is poised to sign a formal standstill on some 4 billion dirhams ( about 1.08 billion U.S. dollars)...

Dubai’s debt doesn’t stop Middle East’s monster projects

The debt problems besetting Dubai's property sector have not affected the go-ahead for the region's largest aluminium, cabling and renewable energy projects, all centred...

Abu Dhabi gives $10bn to Dubai to service debts

Abu Dhabi has given Dubai $10bn, some of which will enable Nakheel, the property arm of troubled Dubai World, to pay a $4.1bn Islamic...

Same Story, Different Headlines

Now, wherever in the world you were last week, you could hardly open a newspaper or watch television without coming across a mention of...