dubai world

Those who lent to Dubai World at a premium can have no complaints if the risks for which they were compensated turn out to be real.

Eventually , the group could be split in two: a " good" Dubai World with all the productive assets, and a " bad" Dubai World with the rest .

A WEEK after Dubai World announced its debt standstill, the financial panic seems to have disappeared as quickly as a desert squall.

"Our intervention in Dubai World was carefully planned and reflects its specific financial position, " he said in a statement.

Abu Dhabi's move appeared to restore what had been perceived as an implicit state guarantee of Dubai World's debts.

Dubai World is seeking a six-month moratorium on interest payments, a person familiar with the matter said.

One of those conglomerates, Dubai World, is in the midst of its own debt restructuring.

Banks are still scrambling to pin down their exposure to Dubai World since the announcement last week of a standstill to debt repayments .

Last month, Dubai sent global markets into a swoon after announcing a standstill to debt payments for its flagship corporation, Dubai World.

The gauge has lost close to 27% since Dubai World asked for a debt freeze late last month and stands in negative territory for the year.

We all know how Dubai World Ports was forced to sell off its portfolio of US ports after it had acquired P&O.

Dubai World this spring signaled a restructuring of the bond was an option, but hasn't provided details since.

In attempting to resolve Dubai World's debt woes in an equitable way, the emirate clearly has an eye on its longer-term refinancing needs.

Dubai World's request for a debt "standstill" should not be seen as a shock.

However, it also expects banks to accept some of the pain, as was the case in the Dubai World restructuring.

Some bankers and investors also believe last week's Dubai World restructuring announcement was blown out of proportion.

Aidan Birkett, Dubai World's chief restructuring officer, hopes to finalise the plan within a few months.

The travails of Dubai Inc have left commentators struggling for the right phrase to describe Dubai World and its various siblings.

A debt standstill by Dubai World, a state-backed property venture in the Middle East, made bond investors more nervous about sovereign risk.

A Dubai World spokesman declined to comment on when the company first informed bond holders about the standstill request.

International property advisers braced for a potential slew of instructions to sell trophy assets owned by Dubai World.

And how is the Dubai World debt to be met, even after the six-month delay, if Abu Dhabi will not fund the rescue package?

Dubai World's announcement on Wednesday also sent the cost of insuring Dubai's debt against default soaring and bond prices tumbling.

Sultan bin Sulayem, head of Dubai World, said such moves by regulators were discriminatory and would deter him from investing.

Still, someone lent Dubai World the tens of billions it used to build glitzy real estate projects from Vegas to the Middle East .

Dubai World helped transform Dubai into a regional hub for finance.

Dubai World is Dubai government's flagship holding company that has developed some of the world's most extravagant real estate projects.

But this is not because Dubai is backing down on its plan to force losses onto Dubai World's creditors.

Dubai World, whose slogan is "The sun never sets on Dubai World" , has $59 billion of liabilities.

Dubai World asked holders of its sukuk to appoint representatives to discuss restructuring.

Bankers are being asked to agree to a standstill on $22 billion of debt owed by struggling government-owned conglomerate Dubai World.

Investors had half-expected Dubai World to seek forbearance from its bankers, asking them to extend their loans.

Dubai World is restructuring US$22bn in debts, and has put some of its highest-profile assets on the block.

Concerns over a possible debt default by Dubai World triggered a sell-off in stocks globally on Friday.

However, the benchmark is still down about 19% since Dubai World requested the debt freeze.

Dubai World still intends to renegotiate the terms of $26bn of its borrowing.

English-language Gulf News said: "Global outcry over Dubai World restructuring is exaggerated. "

Nakheel, a property developer owned by Dubai World, met creditors as part of its attempts to renegotiate $10. 5 billion in bank debt.

Dubai World says it will restructure $26 billion in debt, less than half of the nearly $60 billion it owes.

True, maturities were stretched, but Dubai World threw in interest rate and guarantee sweeteners.

Dubai World controls DP World, the fourth-biggest port operator in the world, as well as Istithmar, a high-profile investment fund.

Last week world stock markets tanked on news of Dubai World's debt standstill (a delightful euphemism for default).

Dubai World said last week that it is in talks with banks to restructure about $26 billion in debt.

Dancing Fountain in Dubai: World's tallest fountain in Dubai Mall in UAE, located at the base of Burj Dubai.

With Dubai World cut adrift from implicit government support, there are concerns about potential defaults by other state-related entities.

Dubai World spooked markets in November after announcing a standstill on debt repayments.

They both said their response reflected Dubai's announcement on the restructuring of Dubai World.

Dubai World's troubled property developer, Nakheel, is due to redeem a $4bn Islamic bond, or sukuk on the same day.

Almost three-quarters of Dubai Holding's creditors have also agreed to extend maturities to Dubai World.

A government-owned group of companies, Dubai World, has been seeking to restructure twenty-six billion dollars of debt.

Some of the new money will now go to Dubai World to make sure it meets some of its forthcoming obligations.

Senior government officials, in separate comments, stressed that the government wasn't obliged to step in to support Dubai World.

A spokesman for Dubai World declined to comment as did the Dubai Department of Finance.

If those negotiations do falter, Dubai World's fate will be governed by a brand new "reorganisation law" .

Bank analysts at JP Morgan said lenders' main exposure is through $14bn of syndicated loans to Dubai World.

Dubai World Central This map shows the inland location of Dubai World Central.

If the lenders don't agree, Dubai World will default on the notes, the person said.

Now Dubai World is faced with selling properties at heavy losses to raise money.

And Dubai World is a model of clarity compared to most Chinese hybrids.

Of immediate concern for creditors is a $3. 52 billion sukuk, or Islamic bond, issued by Dubai World real-estate unit Nakheel.

Dubai World's problems have caused some paralysis, and once it's behind us we will see a pick-up.

The travails of Dubai World, the struggling conglomerate that is seeking to restructure $22bn of debts, have also acted as a warning.

A development by Nakheel, the property arm of Dubai World.

The same year, Dubai World joined up with MGM Mirage in Las Vegas's $8. 8 billion CityCenter casino development.

At last, Dubai World speaks, after six days of silence.

RBS has lent roughly $1 billion to Dubai World, another person said.

After peering into the abyss of default in November, Dubai World has come back from the brink.

In March, Dubai unveiled a $9. 5 billion rescue plan for Dubai World and property unit, Nakheel.

Dubai World is a one-off, just like its homeland.

Dubai World has 70 creditors who could face write-downs on their debt.

Dubai World Trade Centre - Dubai International Exhibition Centre

Executive Chairman - Dubai World Chairman Tejari

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