DUBAI (Reuters) – Concern over debts at Dubai’s utility provider and losses at Nakheel, builder of the emirate’s palm-shaped islands, hit markets on Wednesday, drowning out assurances by top officials that Gulf economies were sound. Read more here: Dubai debt confusion, Nakheel dent confidence
Also tagged dent-confidence, drowning-out, dubai, economies-were, emirate, more-here, nakheel, over-debts, top-officials, utility-providerDUBAI (Reuters) – Efforts by Dubai World to restructure about $26 billion in debt out of the estimated $59 billion it owes reassured investors that the emirate’s debt problems can be contained, helping global markets edge higher on Tuesday. Read the original post: Dubai World $26 billion debt plan soothes contagion …
Also tagged contagion, dubai, efforts, emirate, plan-soothes, the-estimated, the-original, tuesday, tuesday-readDubai’s main stock exchange slid more than 7 percent on the first day of trading since news of its debt crisis. Dubai officials last Wednesday announced that Dubai World, the emirate’s investment and development engine, would seek a six-month delay in paying nearly $60 billion in debt. Read more …
Also tagged exchange-slid, first, main-stock, more-, officials-last, percent-on-the, six-month-delay, trading-since, wednesdayDUBAI/LONDON (Reuters) – Banks outside the Gulf played down on Friday their exposure to Dubai debt, after fears the emirate could default and even derail world economic recovery prompted a sell-off in global markets. Read the original post: Banks play down Dubai exposure, markets still wary
Also tagged and-even, banks, derail-world, down-on-friday, emirate, exposure, global-markets, markets-still, original, outside-the-gulf, play-down, played-down, their-exposureReuters – Dubai said on Wednesday two of its flagship firms planned to delay repayment on billions of dollars of debt as a first step toward restructuring Dubai World, the conglomerate that spearheaded the emirate’s breakneck growth. View original post here: Dubai seeks debt delay, some units cut to junk …
Also tagged conglomerate, delay-repayment, firms-planned, original-post, pearheaded-the-emirate, repayment-on-billions, seeks-debt, the-conglomerate