State-linked indebted conglomerate
Dubai World intends to ask creditors for a six-month standstill on $22 billion in debt this month, until it completes restructuring, an Arabic-language daily said on Wednesday.
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Sharon Lorimer
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According to a report published in the Al Ittihad newspaper, Dubai World will request a debt freeze from the end of February, which would cover a bond repayment of $980 million from property unit Nakheel.
A spokesman for Dubai World said the company has not released a statement on a standstill and declined to comment further. Read more
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Traderone: After Greece, you have another issue waiting to pull the market down. One wave after another.
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