The Dubai government said it will pay 4.1 billion dollars to cover Islamic bonds issued by its Nakheel property developer which mature Monday after receiving 10 billion dollars from oil-rich Abu Dhabi.
2009-12-14 07:09:06 GMT SINA.com
DUBAI – The Dubai government said it will pay 4.1 billion dollars to cover Islamic bonds issued by its Nakheel property developer which mature Monday after receiving 10 billion dollars from oil-rich Abu Dhabi.
2009-12-07 09:50:57 GMT SINA.com
DUBAI, United Arab Emirates: A senior Dubai official says the city-state's indebted Dubai World conglomerate but not the government itself might sell assets to raise cash.
2009-12-07 07:59:50 GMT Xinhua English
JERUSALEM, Dec. 6 (Xinhua) -- Until last month, Dubai was acclaimed worldwide as an exotic Manhattan on the sea, with huge skyscrapers towering in desert sands alongside golden beaches crowded with stunning hotels and upscale shopping malls.
2009-12-21 19:42:06 GMT Xinhua English
ABU DHABI, Dec. 21 (Xinhua) -- The state-owned conglomerate Dubai World, which seeks a standstill on some 22 billion U.S. dollars of debts, said Monday that it held a meeting with its creditor banks involved in the debt restructuring.
2009-12-06 08:43:38 GMT Xinhua English
HANGZHOU, Dec. 6 (Xinhua) -- When many mega-constructions, including the world's tallest building Dubai Tower, kept on rising from the sands in the Middle East, Chinese investors' confidence had been sky high on Dubai property market as well.
2009-12-04 10:30:24 GMT SINA.com
DUBAI, United Arab Emirates – Dubai's ruler writes poetry, rides horses across the desert in long-distance endurance races and hobnobs with royals like the Queen of England. Mixing extravagance with boundless ambition, he commanded the desert city-state's meteoric rise — and helped sow the seeds, some observers say, of its debt crisis.
2009-12-03 02:31:14 GMT Global Times
Anxiety over Dubai's debt crisis may be easing on Wall Street and bourses throughout the world, but it's just starting to swell in China, as some analysts say the nation's economy is similarly dependent on booming real estate and infrastructure.
2009-12-01 20:34:08 GMT Xinhua English
KUWAIT CITY, Dec.1 (Xinhua) -- Kuwait's Central Bank Governor on Tuesday played down effects of the Dubai debt crisis on his country's banking sector, saying that the impacts "are very limited."
2009-11-29 21:53:28 GMT Xinhua English
DUBAI, Nov. 29 (Xinhua) -- While Asian and Western markets were hit badly by an announcement of state firm Dubai World that it might delay debt repayments, expert said Middle East markets are expected to post losses during the first week of December, as they were closed from Thursday on.
2009-12-03 02:12:56 GMT Xinhua English
CAIRO, Dec. 2 (Xinhua) -- Global markets were stunned by the debt crisis of Dubai, a fishing town turned financial hub, however, some Arab economists said that it is in the interest of all players to help Dubai to overcome the crisis, suggesting a set of procedures and measures that would help Dubai to ride out the hard times.
2009-12-01 04:52:20 GMT Global Times
BEIJING, Dec. 1 -- "Dreams are not limited. You should keep on moving." The well-known quote from the Emir of Dubai Sheikh Mohammed, posted on Dubai's Sheikh Zayed Road, has inspired people and nations worldwide to dream big and realize their dreams.
2009-11-30 07:34:49 GMT SINA.com
NICOSIA - Dubai's ambitions to become an international financial centre are in doubt after the shock announcement that its main state-owned firm wants to suspend debt payments, analysts said on Sunday.
2009-11-30 07:32:19 GMT SINA.com
DUBAI, Nov 29 - Dubai will attempt to reassure markets and investors on Monday on how it plans to restructure its beleaguered conglomerate Dubai World [DBWLD.UL] after it requested a shock standstill from bondholders for a $3.5 billion bond maturing on Dec 14.
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