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Central Bank Chairman: Dubai unlikely to need more aid

2010-03-18

Al Khaleej: In an interview with Bloomberg, Sultan bin Nasser al Suweidi said state-owned conglomerate Dubai World"s [DBWLD.UL] debt proposal would treat all banks equally and that local banks will be able to bear the brunt of any "haircuts". "They haven"t discussed this issue with us and I don"t think it will be necessary," Suwaidi said in response to a question on whether Dubai will need further federal support. In February 2009, the UAE central bank took up $10 billion in a $20 billion sovereign bond programme launched by Dubai. Proceeds from the programme were earmarked for strategic state-linked firms. Dubai World is in talks to renegotiate debt linked mainly to its property units Nakheel [NAKHD.UL] and Limitless World. The company announced it would request a six-month delay on repaying the funds last November. It staved off default on a $4.1 billion Islamic bond linked to Nakheel in December, after a last minute bailout from Abu Dhabi.


 

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2017-04-11
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3G services in 6 months in the West Bank

2017-04-10
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2017-04-10
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2017-04-06
Dividends approval momentum and a final agreement to run 3G frequencies in the Palestinian markets

2017-04-06
PALTEL approves distributing 40% cash dividends for the year 2016

2017-04-04
PADICO proposes distributing 5% cash dividends for the year 2016

2017-04-03
AIB approves raising its capital to $75 million and distributing 12% cash dividends for the year 2016

2017-04-02
NIC approves 20% cash dividends for the year 2016.

2017-04-02
ISBK approves raising its capital to $69 million and distributing 8.50% cash dividends for the year 2016.

 

 

 
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