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That's really bad news for creditors hoping that the ultra-wealthy Abu Dhabi would bailout Dubai World, the troubled Persian Gulf company that last week announced it would seek a six month reprieve on its $60 billion of debts. ...
Continue reading...Monday, November 30, 2009
Much like on Friday, Dubai and holiday retail sales are in the spotlight and there are mixed reports on both. The dollar is also trading lower against a basket of foreign currencies and that has helped the premarket futures. ...
Continue reading...Monday, November 30, 2009
Today's comment, from Abdulrahman al-Saleh, the director general of Dubai's Department of Finance, effectively confirms that country does not have enough money to repay Dubai World's $60 billion of liabilities.
Continue reading...Monday, November 30, 2009
[UPDATE: Futures turned direction and are now pointing to a higher start on Wall Street as investors were somewhat encouraged by the United Arab Emirate's central bank saying it would guarantee Dubai World's debt, and by the modest ...
Continue reading...Tuesday, October 13, 2009
Details of the group draws for the upcoming IEM Dubai QuakeLive tournament have been revealed today by ESL. The $6500 event has attracted the hottest talents from Europe, Asia and North America and there will be no easy games from the ...
Continue reading...Tuesday, October 13, 2009
A large fire broke out on Monday morning in an electrical shop and spread to seven other shops and warehouses. The fire started at 7.30am at an electrical shop in Industrial Area 6, and there were no reports of any casualties or injuries. A
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Monday, November 30, 2009
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