Dubai’s debt restructuring may curb GCC growth
Markets are keenly following the emirate’s debt situation, according to Henry Azzam, CEO of Deutsche Bank's MENA division.
February 10, 2010 9:48 by kippreport
The GCC’s recovery may be held back because of tighter lending in the region and Dubai’s debt restructuring, Henry Azzam, CEO of Deutsche Bank’s Middle East and North Africa division, said in a conference on Wednesday.
“All eyes will be on Dubai World, markets are hoping that the restructuring of Dubai World’s (remaining) $22 billion debt will be speedy,” he said. “The risk is that this exercise would be lengthy and could lead to many surprises in the month ahead,” he added.
More on GCC
-
Dubai ruler makes horse doping illegal
-
CEO-elect of UAE’s fraud-hit RAKBANK has quit
-
Saudi Arabia confirms another death from SARS-like virus
-
Prepaid cards available across the UAE
-
Bahrain’s Batelco CEO leaves with immediate effect
-
Arabtec Says Workers End Strike
-
First report by Etisalat covering global footprint
-
Kuwaiti Oil Service Workers On Strike Over Pay – Union
-
Qatar’s Doha Bank May Sell Bonds To Raise Capital – CEO
-
Qatar to announce new energy infrastructure fund
-
Qatar Holding, Italy Fund Eying Versace – Paper
-
Saudi government websites targeted
-
NCoV – First report of patient-to-nurse spread
-
Saudi regulations target stock market speculators
-
Dubai’s Arqaam Capital Eyes South Africa, Saudi Expansion
-
U.S. Targets Two UAE Firms For Dealing With Blacklisted Iran Banks
-
Airbus officially picked by Kuwait Airways
-
GMR reveals top 50 Mena Corporate Brands
-
Kuwait Airways to sign $3 billion-plus Airbus deal
-
Abu Dhabi Tourism Company Loss Widens
Lately on Kipp
-
Dubai ruler makes horse doping illegal
-
CEO-elect of UAE’s fraud-hit RAKBANK has quit
-
Over 90% of passwords vulnerable to hacking
-
‘Renewable energy absolutely necessary’ – Saudi
-
NEC Display Solutions launches Full HD 3D ready compact meeting room projector
-
Saudi Arabia confirms another death from SARS-like virus
