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- Dubai Struggles to Ease Debt Default Fears
- By Tamara Walid and Jeremy GauntDUBAI/LONDON (Reuters UK) - Dubai struggled to ease fears of debt default on Thursday after its move to delay repayments at two flagship firms shook confidence in the Middle East as a centre for investment and a source of capital.Dubai's debt problems, a hangover from...
- News items 2009-11-26
- Travel Roundup: MGM Mirage's CityCenter Lawsuit, Alaska Cancels For Erupting Volcano, Rise of Micro-Hotels and More
- Dubai partner sues MGM Mirage over CityCenter -- Infinity World reported that it is suing its CityCenter partner, MGM Mirage, to protects its investment and rights in the project. Infinity World is a part of Dubai World, a Dubai developer partnered with MGM Mirage in the $8.6 billion CityCenter...
- Blog posts 2009-03-23
- Dubai World to Meet Creditor Panel on Debt Crisis
- By Inal Ersan and Raissa KasolowskyDUBAI (Reuters) - Government-owned Dubai World will meet its main creditors next week to discuss a request to delay payment on $26 billion in debt that has shaken global markets and confidence in the Gulf Arab business hub.The meeting would be the first formal encounter...
- News items 2009-12-02
- Dubai World to Meet Creditor Panel
- By Alistair LyonDUBAI (Reuters UK) - Government-owned Dubai World DBWLD will meet its main creditors next week to discuss a request to delay payment on $26 billion (15.6 billion pounds) in debt that has shaken global markets and confidence in the Gulf Arab business hub.Dubai's problems had raised fears of...
- News items 2009-12-02
- Dubai Ruler Plays Up Strength as Gulf Markets Fall
- By Rachna Uppal and Jason BenhamDUBAI (Reuters) - Gulf markets dropped again on Tuesday, taking little comfort from Dubai World's plan to restructure about $26 billion of debt and despite reassurances on economic resilience from the rulers of Abu Dhabi and Dubai.Dubai stocks fell a further 5.6 percent and the...
- News items 2009-12-01
- Dubai Ruler Plays Up Strength
- By Rachna Uppal and Jason BenhamDUBAI (Reuters UK) - Gulf markets dropped again on Tuesday, taking little comfort from Dubai World's plan to restructure about $26 billion (15.6 billion pounds) of debt and despite reassurances on economic resilience from the rulers of Abu Dhabi and Dubai.Dubai stocks fell a further...
- News items 2009-12-01
- Abu Dhabi to Aid Dubai "case By Case"
- By Stanley CarvalhoABU DHABI (Reuters UK) - Abu Dhabi, wealthy capital of the United Arab Emirates, will "pick and choose" how to assist debt-laden neighbour Dubai, a senior official said on Saturday, after fears of a Dubai default sent global markets reeling."We will look at Dubai's commitments and approach them...
- News items 2009-11-28
- Abu Dhabi to Aid Dubai on "case By Case" Basis
- By Stanley CarvalhoABU DHABI (Reuters UK) - Abu Dhabi, wealthy capital of the United Arab Emirates, will "pick and choose" how to assist debt-laden neighbour Dubai, a senior official said on Saturday, after fears of a Dubai default sent global markets reeling."We will look at Dubai's commitments and approach them...
- News items 2009-11-28
- Abu Dhabi to Aid Dubai on "case By Case" Basis
- By Stanley CarvalhoABU DHABI (Reuters) - Abu Dhabi, wealthy capital of the United Arab Emirates, will "pick and choose" how to assist debt-laden neighbor Dubai, a senior official said on Saturday, after fears of a Dubai default sent global markets reeling."We will look at Dubai's commitments and approach them on...
- News items 2009-11-28
- MGM Mirage's $200 Million CityCenter Payment
- Thought it odd to see a press release on MGM Mirage making a $200 million CityCenter payment? Well, because of recent rumors of bankruptcy, MGM Mirage had to cough up the dough or its $8 billion project would be deemed insolvent by investors and creditors alike. The press release said...
- Blog posts 2009-03-27
Additional Resources
- Dubai Says Not Responsible For Dubai World Debt
- By Rania Oteify and Tamara WalidDUBAI (Reuters) - The Dubai government said on Monday it was not responsible for the debts of Dubai World, dealing a blow to creditors' assumptions that the Arab emirate would guarantee the conglomerate's liabilities."Creditors need to take part of the responsibility for their decision to...
- News items 2009-11-30
- Dubai Says Not Responsible For Dubai World Debt
- By Rania Oteify and Tamara WalidDUBAI (Reuters UK) - The Dubai government said on Monday it was not responsible for the debts of Dubai World, dealing a blow to creditors' assumptions that the Arab emirate would guarantee the conglomerate's liabilities."Creditors need to take part of the responsibility for their decision...
- News items 2009-11-30
- Dubai World seeks 'standstill' on debt
- The Dubai government is to ask creditors of Dubai World, the state-owned conglomerate behind the emirate's massive property expansion, for a standstill on all its liabilities as accountants are appointed to restructure the debt-laden group. Today's announcement sent the cost of insuring Dubai's debt against default soaring, as fears mounted...
- News items 2009-11-25
- UK Banks Have $5 Billion Exposure to Dubai World-report
- LONDON (Reuters UK) - Four British banks have a $5 billion (3 billion pounds) combined exposure to Dubai World, making them the biggest foreign creditor group at the Dubai state-owned conglomerate, the Financial Times said on Thursday.The report, citing bankers and advisers, said Royal Bank of Scotland RBS was the...
- News items 2009-12-03
- Dubai World Refused Distress-asset Sale: Report
- DUBAI (Reuters) - Dubai World has refused to offload assets at fire-sale prices to repay obligations, forcing it to seek a debt standstill, a newspaper report on Sunday quoted an unnamed source at the government-controlled firm as saying.Stocks from Tokyo to New York have been haunted by concern that banks...
- News items 2009-11-29
- Dubai World Refused Distress-asset Sale -report
- DUBAI (Reuters UK) - Dubai World has refused to offload assets at fire-sale prices to repay obligations, forcing it to seek a debt standstill, a newspaper report on Sunday quoted an unnamed source at the government-controlled firm as saying.Stocks from Tokyo to New York have been haunted by concern that...
- News items 2009-11-29
- Dubai World Lenders to Meet Firm Next Week-exec
- ABU DHABI (Reuters UK) - Dubai World's creditors have formed a committee comprising six banks that will meet with the troubled state-controlled conglomerate next week, a bank executive familiar with the matter said on Wednesday.The committee includes two United Arab Emirates banks UAE and four British banks -- Standard Chartered...
- News items 2009-12-02
- Dubai World Lenders to Meet Firm Next Week: Exec
- ABU DHABI (Reuters) - Dubai World's creditors have formed a committee comprising six banks that will meet with the troubled state-controlled conglomerate next week, a bank executive familiar with the matter said on Wednesday.The committee includes two United Arab Emirates banks UAE and four British banks -- Standard Chartered STAN,...
- News items 2009-12-02
- Dubai World's Leaky Submarine Deal
- Matthew Goldstein submits: Dubai World’s trouble paying its debt obligations may not be too surprising when you consider some of the dubious investments it has entered into over the past few years. A case in point is Dubai World’s ill-fated voyage into the business of building and selling submarines...
- External links 2009-11-28
- Dubai World Cup Odds Released at All Horse Racing
- DUBAI, United Arab Emirates -- All Horse Racing (www.allhorseracing.com), an international gaming company, today released the latest odds on who will win the $6,000,000 Dubai World Cup, sponsored by Emirates. Know as the "World's Richest Race," the Dubai World Cup is hosted in the city of Dubai, United Arab...
- Research articles 2008-03-24
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