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Bomb scares bring traffic to standstill in BahrainTraffic was brought to a standstill across Bahrain yesterday (September 13) following reports of suspicious devices found in several areas. Motorists driving on the Shaikh Isa bin Salman Highway from Salmabad, Janabiya and Hidd were stuck in t More… |
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Flights diverted as thick fog blankets BahrainSeveral flights were diverted and traffic almost came to a standstill across the kingdom yesterday (January 26) as thick fog blanketed the region. Visibility was almost zero in some parts of the country and dropped to as low as 10 More… |
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Heavy snow brings Beijing to standstillHeavy snow hit Beijing on Sunday, stranding thousands of passengers at the Chinese capital's main airport and casting an unusual quiet over normally busy streets as people stayed out of the freezing weather. More than 80 per cent of fl More… |
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Dubai World 'total debt $40bn; standstill in Jan'Dubai World, faced with a $22 billion debt restructuring, told creditors it had $40 billion in total debts and will pitch a standstill proposal in mid-January, a banking source said on Monday. Dubai's flagship conglomerate outlined its More… |
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Bankers await Dubai World's standstill requestBankers said they expect Dubai World to make a formal request for a standstill on its $26 billion debt at Monday's creditor meeting, but it could be more than a month before banks agree. Banks are expected to support Dubai World's request, More… |
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Dubai bourse checks health of debt issuersIslamic bond issuers are now due to have responded to queries from Nasdaq Dubai to assess the 'soundness and health' of debt listed on the bourse in a move linked to Dubai World's $26 billion debt standstill request. Nasdaq Dub More… |
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Lenders still face Dubai World standstill decisionLenders must decide next week whether to approve Dubai World's $26 billion debt standstill request after Abu Dhabi's $10 billion bailout on Monday bought time to work on a wider debt rescheduling, bankers said. A More… |
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Dubai World 'working on debt deal with creditors'Dubai World will continue to work with financial creditors to negotiate a standstill in an orderly way for receiving financial aid from Dubai Government to cover working capital and interest expenses, the crisis-hit state holding company said More… |
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Mideast merger activity 'to pick up in 2011'The mergers and acquisitions activities in the Arab region, which have been severely hit by the global financial meltdown and stock market collapse, is set to recover only in 2011 and beyond, said an industry expert. Dr Karim El Solh, chie More… |
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Dubai ‘may face shakeup after debt standstill’Dubai's shock move to restructure its biggest corporate debtor, Dubai World, and delay repayment on some of the company's $59 billion of liabilities could signal a broad restructuring of the emirate's corporate landscape. A web More… |
