Wednesday 30 July 2014
 
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Dubai World

Dubai World repays $300m early to creditors

Dubai World, one of the emirate's big state-owned conglomerates, has made a second early repayment worth around $300 million under its $25 billion debt restructuring plan, sources familiar with the matter said on Thursday. The

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Dubai World hires Blackstone to look at debt options

Conglomerate Dubai World has hired New York-based investment and advisory firm Blackstone Group LP to take a fresh look at its debt and how to make repayments to creditors, sources aware of the matter told Reuters. "This is o

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Dubai World sees more early debt payments in 2015

Dubai World, the conglomerate at the centre of the emirate's debt crisis, has the means to make its first big repayment on time next year and expects to pay off more of its debt ahead of schedule, a top executive said. Mohamme

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Dubai World prepays $284m to creditors

Dubai World, one of the emirate's big state-owned conglomerates, has prepaid $284.5 million to creditors under its $25 billion debt restructuring plan, sources familiar with the matter said on Wednesday. The conglomerate obtai

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China moving closer to its ‘Dubai moment’

(The author is a Reuters Breakingviews columnist. The opinions expressed are his own) China's reform drive is getting closer to its "Dubai moment". The emirate's 2009 refusal to bail out its flagship hol

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Dubai Istithmar sells stake in landmark Miami hotel

Dubai World unit Istithmar World has sold its 50 per cent stake in Miami Beach's landmark Fontainebleau hotel to south Florida developer Turnberry Ltd, a source close to the seller said on Tuesday. Dubai World, one of the emir

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Jebel Ali new terminal receives first cranes

The first four of 50 Rail Mounted Gantry (RMG) cranes bound for DP World’s new Container Terminal 3 have arrived at Jebel Ali Port, a report said.   Another four Ship To Shore (STS) quay cranes are expected in the next

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Dubai World nears Miami hotel stake sale

Dubai World is close to selling its 50 per cent stake in Miami Beach's landmark Fontainebleau hotel to South Florida developer Turnberry Ltd, three sources aware of the matter said. The sale will mark an acceleration of asset

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Dubai World names CEO for Istithmar unit

Dubai World, the state-owned conglomerate that completed a $25 billion debt restructuring in 2011, named on Monday Ziad Makkawi as the new chief executive for its investment arm, Istithmar World. Makkawi replaces Andy Watson, who

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Dubai World unit sells UK-based logistics firm

Economic Zones World (EZW), a unit of government-owned conglomerate Dubai World, has sold its British-based logistics firm Gazeley to Brookfield Asset Management, sources said on Tuesday. &nbs

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