Dubai World did not request a debt standstill at meeting
State-owned Dubai World did not ask its creditors …
December 21, 2009 5:57 by kippreport
State-owned Dubai World did not ask its creditors for a debt standstill during a meeting on Monday, reports Bloomberg. The company, which is restructuring around $22 billion of debt, said that the meeting was a discussion on ways to move forward.
The company also said in a statement that the Dubai government had assured of providing it with “financial support to cover working capital and interest expenses to ensure the continuity of key projects” if a standstill was achieved.
More on GCC
-
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
-
Emirates Airline reaps expansion profits
-
Saudi Arabia has 13 cases of SARS-like Coronavirus – WHO
-
UAE Central Bank Shuts Two Money Exchange Firms For Violations
-
Emal plans further expansion
