Recent Event Highlights: Can't stand the heat? Come to world's first climate-controlled city - The Independent, Dubai says it's building world's biggest shopping mall - Al Jazeera America, Dubai to build world's biggest shopping centre - TODAYonline, Dubai to build world's biggest shopping center - Deseret News, Rising Dubai Real Estate Prices Pose Risk for UAE, IMF Says - Wall Street Journal (blog), The World's Largest Shopping Mall Is Opening In Dubai - Business Insider, and 172 more...
Created by dipity on Nov 27, 2009
Last updated: 07/07/14 at 12:56 AM
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The IndependentCan't stand the heat? Come to world's first climate-controlled cityThe IndependentDubai has already earned a reputation for pushing the boundaries with its architecture, having built the world's tallest building, a hotel shaped like a sail and a palm tree‑shaped archipelago of luxury properties. But now developers have unveiled ...
Dubai says it's building world's biggest shopping mallAl Jazeera AmericaDubai Holding was not spared from the financial turmoil, and some of its divisions sought new repayment terms from lenders on a debt pile that reached into the billions of dollars. The emirate's economy has rebounded strongly in the years since the ...
TODAYonlineDubai to build world's biggest shopping centreTODAYonlineDubai has long used high-profile, big-ticket real-estate projects to drive economic growth and establish itself as an international tourist destination. Its ambitions were slowed significantly by a crippling financial crisis that came to a head in 2009 ...
Deseret NewsDubai to build world's biggest shopping centerDeseret NewsIts ambitions were slowed significantly with a crippling financial crisis that came to a head in 2009, forcing the delay or cancellation of some of the most outlandish projects. Dubai Holding was not spared from the financial turmoil, and some of its ...
Wall Street Journal (blog)Rising Dubai Real Estate Prices Pose Risk for UAE, IMF SaysWall Street Journal (blog)Meanwhile, Dubai did make “significant progress” in repaying some of its debts stemming from the 2009 crisis, the IMF said. Markets, however, would continue to monitor entities such as Dubai World, which was at the heart of the emirate's debt crisis ...and more »
Business InsiderThe World's Largest Shopping Mall Is Opening In DubaiBusiness InsiderDubai — the most populated city in the UAE — continues to recover from its 2009 debt crisis as well as criticisms from the IMF that new and ambitious real estate projects may cause another boom-bust cycle. Here is a video of the project from ...
Dubai says launching project to build world's biggest mallReutersDubai is still recovering from its 2009 debt crisis and the International Monetary Fund has warned a slew of new real estate projects could lead to another boom-bust cycle. But officials say they are able to handle the risks, and a strong economy is ...and more »
Dubai World in talks to extend term of $10.5bn loanFinancial TimesThe government conglomerate was at the heart of Dubai's debt crisis in 2009, agreeing a restructuring of $25bn of loans in 2010. Last week, it proposed an early repayment on the $4.1bn maturity due in September 2015 if creditors agreed to extend the ...
Lloyds Said to Drop Sale of $540 Million of Dubai World DebtBloombergLloyds is among several British banks to offload their operations in Dubai following the financial crisis in 2008 and the emirate's near-default the following year. The London-based lender sold its Dubai branch to HSBC Holdings Plc in 2012 and closed ...and more »
Gulf TimesDubai in Turmoil Pursues Clearing Legacy of Toxic DebtBusinessweek... which could end years of negotiations on about $2.7 billion of debt. Nakheel PJSC, the property developer that helped spark Dubai's financial crisis in 2009, said last week it will repay $1.5 billion of bank loans early. The plans were outlined ...Dubai still cleaning up bad debts that triggered panicTimes of Omanall 19 news articles »
Biggest risk is leaving too early, says Mubasher traderThe NationalLarge surpluses and stable debt ratios should help the GCC withstand a temporary decline in oil prices, but effective diversification remains the only solution in the long term. Looking at the UAE markets in particular, we believe that the month ahead ...
Bourse crosses pre-2008 crisis levels on overall bullish momentumZawya (registration)QSE is up 20.92% year-to-date against Dubai's stupendous gains of 41.32%, Abu Dhabi (20.19%), Saudi Arabia (11.66%), Bahrain (11.23%) and Muscat (0.14%), while Kuwait was down 1.31%. Telecom, insurance and banking counters witnessed the most of the ...
Dubai debt adviser Moelis will list on Wall StreetThe NationalMoelis & Company, the boutique investment bank that advised the Government of Dubai during the debt crisis of 2009-10, is to launch an initial public offering on the New York Stock Exchange to value the bank at about US$1.5 billion, the company said.
International Business TimesSix Flags Will Set Up Shop In Dubai As Middle East Tourism Recovers From ...International Business TimesAfter a free fall during the global financial crisis, the global tourism industry has been getting back on track in recent years, especially in places such as the United Arab Emirates, where a burgeoning younger class is looking for fun, with money to ...'Dubailand': Middle East Developers Welcome Six Flags Theme Park ProjectInvesting.comall 93 news articles »
ArabianBusiness.comNakheel First-Quarter Profit Rises 28%, Sees More Debt ReductionBloombergNakheel was at the center of Dubai's 2009 debt crisis before being rescued by the government with a 16 billion-dirham credit line. The company said in January said it would repay $1.1 billion of debt ahead of schedule this year, including 2.35 billion ...Profits at Palm islands developer Nakheel rise 28% in first quarterThe NationalNakheel's profit jump may boost DubaiArabianBusiness.comall 22 news articles »
ArabianBusiness.comDubai's Limitless asks to defer debt repaymentArabianBusiness.comThe news suggests that while Dubai is recovering strongly from its 2009 debt crisis and property market crash, with most companies that have restructured loans succeeding in working through their obligations, the process is not uniform and significant ...Limitless Said to Seek Delay on Installment of $1.2 Billion DebtBusinessweekall 11 news articles »
Al-ArabiyaDubai World sees more early debt paymentsBusiness RecorderDubai World, the conglomerate at the centre of the emirate's debt crisis, has the means to make its first big repayment on time next year and expects to pay off more of its debt ahead of schedule, a top executive said. Mohammed al-Shaibani, chief ...Dubai tells global bankers to expect another boomAl-Arabiyaall 32 news articles »
Dubai World brings in Blackstone for 'fresh pair of eyes' on debt repaymentThe NationalDubai World, whose debt problems sparked the 2009 financial crisis in the emirate, feels the need for a “fresh pair of eyes” on its debt situation, according to one person familiar with the situation. A spokesman declined to comment. A spokesman for ...and more »
Al-ArabiyaDubai may gain on Dubai World debt optimismAl-ArabiyaDubai's bourse may rise after an executive at Dubai World, the conglomerate at the centre of the emirate's 2009 debt crisis, told Reuters the firm was confident about its ability to make upcoming repayments. Mohammed al-Shaibani, chief executive of ...and more »
EXCLUSIVE-Dubai World sees more early debt payments, can meet 2015 ...ReutersDUBAI, March 31 (Reuters) - Dubai World, the conglomerate at the centre of the emirate's debt crisis, has the means to make its first big repayment on time next year and expects to pay off more of its debt ahead of schedule, a top executive said ...and more »
Dubai's Victory Heights Project CompletedGulf Business News“We are very pleased to have completed this landmark development during a period saddled by global financial crisis and volatility in the Dubai real estate market,” said Yasser Abdulrahman Al Raee, general manager of Victory Heights. “I'm proud to ...and more »
FinFacts IrelandThursday Newspaper Review - Irish Business News and International Stories ...FinFacts IrelandBut instead, falling prices have become an issue for the countries that share the euro currency, while the euro is seen as having emerged from the crisis that threatened its survival. ... Emirates' inaugural flight from Dubai to Dublin took place in ...
Japan and US outperform EuropeTimes of MaltaWhile the main European indices enjoyed double-digit gains, within peripheral Europe, it is worth highlighting that two countries which were constantly grabbing the headlines in recent years due to the debt crisis saw their equity markets rally during ...and more »
Dubai Year in Review 2013Zawya (registration)Many of the concerns that had been weighing on Dubai's economy in the aftermath of the 2008 global financial crisis look to have been laid to rest this past year, with the emirate consolidating its place as a regional centre for tourism, transport ...
UAE: Sharjah gets new credit rating – bond up next?Financial Times (registration) (blog)Unlike the unrated and debt-laden Dubai, Sharjah was better insulated from the tumult of the global financial crisis, boasting debt levels of less than 6 per cent of gross domestic product. Economic output nonetheless dropped in 2009, surpassing pre ...and more »
Economic TimesDubai developer Nakheel to pay $1.1 billion debt in 2014Economic Times... and promises to repay trade creditors $1.23 billion in Islamic bonds that mature in 2016. Nakheel's credit problems were a key trigger of Dubai's 2009 financial crisis, which prompted multibillion-dollar bailouts by the Abu Dhabi-based federal ...Nakheel Plans $1.1bn Of Early Debt Repayments In 2014Gulf Business NewsNakheel to prepay bank debt of AED 4 billion in 2014CPI Financialall 88 news articles »
Dubai real estate growth behind developer Nakheel's plans to pay $1.1 billion ...Fox NewsDUBAI, United Arab Emirates – The indebted builder of Dubai's palm-shaped islands says it plans to make early debt repayments of 4 billion dirhams, or $1.1 billion, this year. Nakheel said in a statement Sunday that strong real estate growth and ...
LivemintNakheel to repay $1.1 billion debt ahead of restructuring planLivemintThe company was at the centre of Dubai's 2009 debt crisis before being rescued by the government in a 16 billio-dirham turn-around plan. The recovery in Dubai real estate has enabled it to outperform its restructuring plan and it has used 1.4 billion ...
Dubai's Nakheel repays debts and has no more need of state aidThe NationalThe Dubai property developer's move, announced yesterday, is further evidence of the continued recovery in the emirate's economic fortunes, and of the company's improved financial position. In 2009, at the height of the global financial crisis, Nakheel ...and more »
Dubai optimism fails to mask concerns on overheating riskFinancial TimesFour years after a sovereign debt crisis thrust Dubai on to the front pages for all the wrong reasons, the Gulf city-state is celebrating a trade and tourism-led renaissance. Last month's decision to award the World Expo 2020 to the United Arab ...
Climate talks: will COP19 help poor countries? – podcast transcriptThe GuardianI tend not to think of it as climate debt, but to try to think of it more in a positive framing and the role of leadership; which China is clearly taking in many respects on the domestic front. It's not only developing a lot of the renewable energy ...and more »
IMF Warns Dubai Of Property Market ExuberanceGulf Business NewsSince 2012, state-linked developers have dusted off projects shelved during Dubai's 2009-2010 debt crisis and unveiled new ones. Some $51 billion worth of projects is estimated to have been announced in January-September. The UAE central bank ...
World timeline in the Sachin Tendulkar Era - Part 2 of 2: The 21st centuryCricket CountryDuring economic crisis in Argentina government effectively froze all bank accounts for twelve months, leading to riots and President de la Rúa's resignation from office. Early in the year, Wikipedia was launched on the internet. Apple Computer unveiled ...and more »
Do not get overtaken by property market exuberance, IMF tells DubaiEconomic TimesSince 2012, state-linked developers have dusted off projects shelved during Dubai's 2009-2010 debt crisis and unveiled new ones. ET SPECIAL: Save precious time tracking your investments. DUBAI: Dubai's government has to make sure its property market ...
Watch Kerala Finance Minister Thomas Isaac and others debating on the crisis of Dubai world in this episode of 'Cross Fire'. http://www.istream.in/
Dubai acquits Australian real estate executives of fraud chargesFinancial TimesExecutives at several state-backed and private developers were jailed for corruption as prices slumped by two-thirds, dragging the emirate towards a damaging sovereign debt crisis and recession. The property market has rebounded in recent years as ...and more »
Dubai to tackle debt repaymentsMEED (subscription)Dubai is thought to have $50bn of debt repayments due over the next three years. Dubai World, the government investment vehicle at the heart of the emirate's debt crisis, faces repayments of about $4.5bn in 2015. At a creditors meeting earlier this ...
Dubai economy on course to grow at fastest rate in six yearsThe NationalSince languishing in a crisis linked to a property crash and a debt crisis during the years 2009 and 2010, Dubai's economy has regained momentum. Property prices have shot up, with average apartment prices rising by 42 per cent during the 12 months to ...and more »
Times of OmanDubai GDP Grows Picks Up in First Half on Hotel OccupancyBloombergDubai's economy expanded 4.9 percent in the first half of 2013, led by the hotel and restaurant industry, as the Middle East's financial and transport hub rebounds from its debt crisis. Gross domestic product expanded to 169 billion dirhams ($46 ...Leisure industry helps growth of Dubai economyTimes of Omanall 2 news articles »
Dubai Holding arm plans to sell stake in Swatch-backed retailer: sourcesReutersDubai, helped by a rebound in its property market, is recovering from a debt crisis in 2009 when several of its state entities were forced to restructure debt and seek more time for repayment. The emirate, facing debt repayments of about $50 billion ...and more »
Dubai launches much-delayed passenger services at new airportReutersSince 2011, tourists have flocked to Dubai, a regional safe haven, at a time of political unrest elsewhere in the Middle East, which helped the emirate's economy emerge from a crippling debt crisis. Dubai is now reviving stalled infrastructure and ...and more »
The IMF has warned Dubai that another property bubble may form if it does not curb its rapidly growing property prices. They rose by 30% in the first six mon...
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We examine three nations in the aftermath of crisis and their different strategies to get out of debt. First Dubai, where it is either a bounce back, or just...
Abraaj Capital group Founder and CEO, Arif M. Naqvi, talks to CNN's Todd Benjamin about the Dubai Debt Crisis at the Super Return Forum in 2009.
Abraaj Capital group CEO and Founder, Arif M. Naqvi, talks with Bloomberg's Margaret Brennan about the prospects of private equity after the Dubai Debt Crisi...
http://www.euronews.com/ Dubai Holding, the investment group owned by the emirate's ruler, has reached an agreement with creditors to delay repayment of 1.9 ...