Dubai Informer

Dubai World has been held responsible for the collapse of Dubai’s finances for a long time. Now Dubai World warned that lenders, aside from the government’s own support fund, would face a “significantly” worse deal if its debt restructuring plan fails and it is forced to seek liquidation, according to the debt restructuring plan outlined [...]

Dubai Holding Commercial Operations Group, a real-estate and hospitality company owned by the emirate’s ruler, reported a full-year loss of AED22.8bn ($6.2bn) after property prices plunged in the Gulf’s trade and tourism hub. The loss attributable to the shareholders compares with the year-earlier profit of AED10bn ($2.72bn), Dubai Holding Commercial said in a statement to [...]

The former chief executive of Islamic lender Tamweel and three other officials were handed jail terms by the Dubai criminal court on Sunday, following a corruption probe aimed at boosting transparency in the Gulf Arab emirate. Adel al-Shirawi, who was dismissed as Tamweel chief executive in 2008, was found guilty of accepting bribes and profiting [...]

Today the Dubai Government has confirmed that it will pour 9.500.000.000 US$ (yes, that’s 9.5 Billion US$) into Dubai World. This is one part of the Dubai World restructuring plan which will also allow work on Nakheel projects to continue. 8 Billion US$ of this money will be used for Nakheel, only 1.5 Billion US$ [...]

Dubai was planning to move the Queen Elizabeth 2 (ex)cruise liner to South Africa. You may have heard about a UAE company called Dubai World? Of course you have. They are the owner of the QE 2 (via their investment arm Istithmar World). They bought bought the QE2 in 2007. The plan was to convert [...]

Nakheel, the Dubai based property developer and part of Dubai World, has to pay back part of a 750 million US$ bond in 7 days. Dubai World, Nakheel’s parent company,  is looking for a standstill of it’s 22 billion US$ debt. On the 19th of January Nakheel should pay back 10.3 million US$ for the [...]

Even though it was expected from Dubai World’s creditors, the company did not ask for a standstill on its debts in today’s meeting in Dubai. It was the first face to face meeting of Dubai World officials with their creditors after the company asked for an extension on it repayments in November. The meeting presented [...]

In a dramatic U-turn, Dubai today announced that it has received a $10bn bail-out from the neighboring Emirate Abu Dhabi that will enable it to pay off the immediate debts of its most troubled state-run companies. Confirmation that the government of Abu Dhabi would supply the money came on the day a sukuk, or Islamic [...]

Today the Dubai Stock Market DFM rebounded from it’s low yesterday on a relatively high turnover. The last few days since the shocking announcement of Dubai World had obviously an impact on the stock markets of the United Arab Emirates. Let’s analyze what happened so far: The DFM (Dubai Financial Market) reached it’s high mid [...]

A week ago, Dubai announced to the world that one of its largest entities, Dubai World, will be seeking a moratorium on its debt, believed to be somewhere in the range of $60 Billion. Soon after, various holidays around the world sent people home and the global markets headed south. Watching the news you would [...]

Dubai’s government said it hasn’t guaranteed the debt of Dubai World, the state-controlled holding company struggling with $59 billion in liabilities, and that creditors must help it restructure. “It is correct that the government owns Dubai World, but the decision when it was set up was that it should receive financing based on the viability [...]

Dubai bourse slumped 7.30 per cent at end of trading session today while Abu Dhabi dropped 8.24 per cent to 2,670 as market sentiments remained down on Dubai World restructuring news. The Dubai bourse closed 7.30 per cent lower at the end of the trading session today, its largest one-day loss in over a year [...]

Dubai has made it into the international news again. This time it’s all about one of Dubai’s biggest companies – DUBAI WORLD. The news read like: Indian stock markets joined the tumble in bourses around the world on Friday after Dubai government-owned holding company Dubai World, which manages that country’s portfolio of businesses, said it [...]