The Dubai government has announced it will extend as much as USD 9. 5 billion to crisis-hit Dubai World to help the conglomerate restructure its massive debt
The Dubai government said on Thursday it has committed $9. 5 billion in aid to its troubled Dubai World conglomerate which has been negotiating the restructuring of $22 billion
The crisi-ridden conglomerate Dubai World is likely to ask its creditors another eight years to repay its debt worth about USD 22 billion, according to a media report.
The Dubai
Exposure of Indian banks to crisis-hit Dubai World is in the range of USD 275-300 million and it will not have any material impact on the sector's performance this year, a senior official of the Reserve Bank of India (RBI) has said here.
DLF, Dubai World arm JV a non-starter
INDIAN real estate companies together have an exposure of $2 billion to the United Arab Emirates (UAE), a big chunk of it in Dubai. Almost half the exposure
Exposure of Indian banks to the Dubai’s economy is in focus following revelations of financial distress at Dubai World, the global investment arm of the Arab emirate, and Nakheel, a Dubai World subsidiary engaged in real estate development.
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