close

policy

We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Agree
Disagree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Gender
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

 
 
Latest News

Dubai World gets $9.5 billion lifeline

The Dubai government has announced it will provide $9.5 billion in funding to help the troubled Dubai World restructure its debt.

0

March 25, 2010 9:34 by



The Dubai government has announced it will provide $9.5 billion in funding to help the Dubai World investment vehicle restructure its debt.

The troubled company has presented a plan to restructure $23.5 billion of debt to its creditors, including converting $8.9bn of debt into equity. Creditors, meeting this week in Dubai, will now decide on whether to accept the plan.

The proposed package “includes a commitment to fund up to $9.5 billion in new funding,” said Sheikh Ahmad Bin Saeed Al Maktoum, chairman of the Dubai Supreme Fiscal Committee, in a statement issued today.

“This will be funded by $5.7 billion remaining from the loan previously made available from the Government of Abu Dhabi and from internal Dubai Government resources,” he added.

“Dubai World has been in discussion with lenders and will present a proposal to all its creditors for the restructuring of their loans. In this proposal the Government is offering to recapitalise Dubai World through the equitisation of the Government’s $8.9 billion claim and a commitment to fund up to $1.5 billion in new funds.”

The new funds will be issed by the Dubai government of Dubai, acting through the Dubai Financial Support Fund.

READ THE FULL STATEMENT FROM SHEIKH AHMAD



0

Tags: , , ,

Leave a Comment