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| Dubai creditors to get multiple options -sources (Reuters via Yahoo! News) Lenders to Dubai World will get a range of options including full repayment once Abu Dhabi decides how much additional support it will provide its debt-strapped neighbor, sources close to the discussions said. |
| Dubai Made Progress in Debt Talks, U.K. Minister Says (Update2) (Bloomberg) March 10 (Bloomberg) -- Dubai World, the state-owned holding company seeking to renegotiate terms on $26 billion of debt, made “some progress” in talks with creditors, U.K. Trade Minister Mervyn Davies said. |
| U.A.E. Banks Can Absorb Dubai World Shocks, Al Khoori Says (Bloomberg) March 10 (Bloomberg) -- United Arab Emirates banks have a strong enough capital base to withstand any shocks that may result from the restructuring of Dubai World’s debt, said Younis Al Khoori , director general of the country’s finance ministry. |
| Dubai Electricity Has No Government Guarantee on Bond (Update1) (Bloomberg) March 10 (Bloomberg) -- Dubai Electricity & Water Authority has no government guarantee on a planned $1.5 billion bond sale and doesn’t require it, Chief Executive Officer Saeed Mohammad al-Tayer said today. |
| Drake & Scull Unit Gets $132 Million Contract From Dubai’s Damac (Bloomberg) March 10 (Bloomberg) -- Drake & Scull International PJSC, a Dubai-based construction company, said its unit won two contracts worth a combined 484 million dirhams ($132 million). |
| Dubai World Has Made Progress With Debt Plan, U.K. Minister Says (Bloomberg) March 10 (Bloomberg) -- Dubai World, which is seeking to renegotiate terms on $26 billion of debt, has made “some progress” in its talks with creditors with the restructuring, U.K. Trade Minister Mervyn Davies said in Dubai today. |
| Dubai Awards $852 Million Contracts for Infrastructure Projects (Bloomberg) March 10 (Bloomberg) -- Dubai Electricity & Water Authority, the government-run utility, today awarded contracts worth 3.13 billion dirhams ($852 million) for infrastructure projects in the emirate. |