Recent Event Highlights: UAE recovering well from crisis: IMF - Trade Arabia, Dubai consumer prices plunge sharply over property supply - Gulf Daily News, UAE recovering well from Dubai debt crisis: IMF official - Arab News, Drydocks World Is 'Confident' in Debt Deal After Court Case Loss - Bloomberg, MIDEAST DEBT-Dubai, Bahrain debt insurance costs converge - Reuters, Dubai Holding eyes sale of remaining stake in Axiom: sources - Reuters, and 75 more...
Created by dipity on Nov 27, 2009
Last updated: 03/17/12 at 06:57 PM
Dubai Debt Crisis has no followers yet. Be the first one to follow.
gulfnews.comUAE recovering well from crisis: IMFTrade ArabiaThe UAE is recovering well from the Dubai debt crisis and its struggling real estate sector is showing some signs of regaining strength, a senior International Monetary Fund official said. "The real estate sector has seen signs of stabilisation in some ...IMF cautions UAE on risks of debt rollovergulfnews.comIMF says Central Bank considering loan limitsThe NationalUAE growth to slow to 2.3% in 2012, says IMFArabianBusiness.comall 8 news articles »
http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNGjenxpvctLoGRPYH96zzdOS5MW6Q&url=http://www.tradearabia.com/news/newsdetails.asp?Sn%3DECO%26artid%3D214257
Dubai consumer prices plunge sharply over property supplyGulf Daily NewsMeanwhile, head of the IMF mission to the UAE Harald Finger said the UAE is recovering well from the Dubai debt crisis and its struggling real estate sector, the source of many of the problems, is showing some signs of regaining strength.and more »
http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNFw5qBl4bvYrWB95HWb5qcYQfHDlA&url=http://www.gulf-daily-news.com/NewsDetails.aspx?storyid%3D325887
Al-BawabaUAE recovering well from Dubai debt crisis: IMF officialArab NewsBy REUTERS ABU DHABI: The UAE is recovering well from the Dubai debt crisis and its struggling real estate sector, the source of many of the problems, is showing some signs of regaining strength, a senior International Monetary Fund official said.IMF sees UAE GDP growth slowing to 2.3 pct in 2012ReutersUAE's GDP to grow 2.3% in 2012: IMFMiddle East North Africa Financial NetworkIMF Predicts UAE Growth to Slow in 2012Wall Street JournalKhaleej Times -gulfnews.comall 44 news articles »
http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNHXb3asFHbTvNCrYrhfqjscsiRwFA&url=http://arabnews.com/economy/article587875.ece
Financial TimesDrydocks World Is 'Confident' in Debt Deal After Court Case LossBloombergThe company is one of several in Dubai seeking to restructure debt after property prices and asset values slumped in the Persian Gulf business hub and credit markets froze with the onset of the 2008 global credit crisis. Drydocks borrowed $2.2 billion ...US hedge fund wins Dubai default caseFinancial TimesUS hedge fund wins $72m Drydocks World suitThe Nationalall 66 news articles »
http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNH9fMzuuZaxvnd09z3alLuie2Y6cg&url=http://www.bloomberg.com/news/2012-03-15/drydocks-world-is-confident-in-debt-deal-after-court-case-loss.html
MIDEAST DEBT-Dubai, Bahrain debt insurance costs convergeReutersDubai's five-year credit default swaps have narrowed dramatically since the emirate was hit by a corporate debt crisis at the end of 2009. The catalyst for the crisis -- weakness in the real estate market -- has not been resolved, but progress in ...and more »
http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNEFeXmyPFwd-qyBTgsqAjpgG1J11w&url=http://www.reuters.com/article/2012/03/13/mideastdebt-dubai-idUSL5E8E84LI20120313
Dubai Holding eyes sale of remaining stake in Axiom: sourcesReutersUL, Dubai International Capital and Dubai Group. It is among the matrix of firms badly hit by Dubai's 2009 financial crisis and most of its units have had to hold discussions with banks to extend liabilities and restructure debt.and more »
http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNFkO9eQxao-j0YTb49-D_LV7PO4ig&url=http://www.reuters.com/article/2012/03/13/us-emirates-dubaiholding-axiom-idUSBRE82C0LC20120313
The NationalDubai's Emirates NBD Said to Plan Cutting 15% of Workforce to Reduce CostsBusinessWeek... global credit crisis hurt the country's real-estate industry and as assets prices slumped, leading to an increase in costs at banks. Emirates NBD is one of the biggest lenders to state-owned Dubai World, which restructured $25 billion of debt after ...UAE lender Emirates NBD plans 15 pct staff cut-sourcesReutersEmirates NBD plans to cut as many as 700 jobsgulfnews.comall 25 news articles »
http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNFS6JeV7A8gW_XEfXqsrNK51RRSww&url=http://www.businessweek.com/news/2012-03-12/dubai-s-emirates-nbd-said-to-plan-cutting-15-percent-of-workforce-to-reduce-costs
CTV.caUAE economy grew 3.3 percent in 2011, below forecastsReutersThe economy has been recovering steadily from Dubai's 2009-2010 corporate debt crisis because of high oil prices and strong trade with Asia, though bank lending has remained sluggish and the once-booming real estate sector weak.UAE's 2011 economy expands 3.3%Middle East North Africa Financial Networkall 142 news articles »
http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNHQJsS_hCcHQEM2JrmCN-NsmkBVMw&url=http://www.reuters.com/article/2012/03/11/us-emirates-economy-idUSBRE82A05120120311
Business Intelligence Middle EastDubai Investments to Divest Three Businesses as Emirate's Economy RecoversBloombergDubai Investments, which operates in businesses including real estate, financial services and investments, slowed its divestment plan after the financial crisis hit Dubai late 2008. The company sold 40 percent of its private equity unit Masharie LLC ...Dubai Investments plans to sell stakes in dozens of firmsgulfnews.comall 8 news articles »
http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNHb3uZ8V98BN_OA6UMqw363jvv9tg&url=http://www.bloomberg.com/news/2012-03-11/dubai-investments-to-divest-three-businesses-as-emirate-s-economy-recovers.html
Excerpt
...additional 8,000 square metres by the end of 2012. The move is the latest by Dubai, which is slowly emerging from a crippling debt crisis, to tap unique financing means partly to overcome a dearth in European funding. In July, the emirate closed a $800 million...
Source Info
TradeArabia
http://www.tradearabia.com/news/newsdetails.asp?Sn=RET&artid=213665
Arabian Supply ChainDubai's Drydocks World to Complete $2.2 Billion Debt Restructuring by JulyBloombergDrydocks World LLC plans to present next week the terms to restructure $2.2 billion of debt as the global credit crisis forces Dubai's state-linked companies to alter terms on loan repayments. Drydocks World, a unit of state-controlled Dubai World, ...Drydocks World to present terms of $2.2bn debt restructuringThe Nationalall 113 news articles »
http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNGiT4kg8neLfWaTJr6wXx4OGK5UaQ&url=http://www.bloomberg.com/news/2012-03-01/dubai-s-drydocks-world-to-complete-2-2-billion-debt-restructuring-by-july.html
20 Feb 2012 Bloomberg Global rallies is helping lift investment sentiment. But on top of that a few factors is fuelling it. Dubai is up 17% year to date. Confidence that companies in Dubai will make payments without government help. Dubai predicts economic growth of 5%. The fundamentals haven't changed, just the perception. The debt is $100bn. Dubai could have higher refinancing risk because of the debt crisis. But others say that there has been no default. The default risk has dropped over the last two years. Dubai has been proving everyone wrong. This year will be better than last year.
Kipp ReportMIDEAST MONEY-Legal limbo stymies banks' recovery of Dubai govt debtReutersLocal and international banks have been waiting nearly two years in some cases for resolutions to drawn-out restructurings of entities hit by the debt crisis in 2009, when Dubai was forced to request a standstill on flagship conglomerate Dubai World's ...Legal limbo stymies banks' recovery of Dubai GovtKipp ReportLegal limbo stymies banks' recovery of Dubai government debtBusiness Recorder (blog)all 5 news articles »
http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNFaad3Z5lpZYuE1YHmEpBW5xiFRIQ&url=http://www.reuters.com/article/2012/02/22/emirates-insolvency-idUSL5E8DK63020120222
7 National News is an English newscast giving indispensable information to its viewers. Its reporters cover all the major developments and changes in the UAE, City 7 News is the common thread that gives information to all the different nationalities and communities in the UAE in the most concise and in depth manner.
Dubai TV interviews Jihad Azour to discuss the Euro crisis and the role of the European Central Bank and its impact on the Middle East.
Ashraf Laidi discusses a wide range of topics for Dubai TV's "Biddirham", distinguishing between the euro's weakness of 2010 and of 2011, and how US rate expectations are the main reasons EURUSD is well above last year's levels. Ashraf also covers the outlook for gold and silver in the face of central banks' policy manoeuvres, as well as the role of traders' sentiment in the latest turn in the Eurozone debt crisis. Ashraf's Premium Intermarket Insights are found here: ashraflaidi.com
The US Treasury Secretary confident Euro leaders can solve the debt crisis, Syria's President Bashar Al-Assad denies ordering troops to kill protesters, the Pakistani President is in a Dubai hospital, Rod Blagojevich sentenced to 14 years in Jail and Mark Zuckerberg's Facbook account gets hacked. Watch World News Australia 6.30pm nightly and 9.30pm Mon-Fri on SBS ONE.
Dubai: In the Burj Khalifa you have a stunning view of the area. Other building have the format of legostone and look like playing models. Burj Khalifa was opened on 4 January 2010. The tower is designed by Skidmore, Owings and Merrill, which also designed the Willis Tower (formerly the Sears Tower) in Chicago and the new One World Trade Center in New York City among numerous other famous high-rises. The building resembles the bundled tube form of the Willis Tower, but is not a bundle tube structure. Its design is reminiscent of Frank Lloyd Wright's vision for The Illinois, a mile high skyscraper designed for Chicago. According to Marshall Strabala, an SOM architect who worked on the building's design team, Burj Khalifa was designed based on the 73 floor Tower Palace Three, an all residential building in Seoul. Burj Khalifa (Arabic: برج خليفة ), known as Burj Dubai prior to its inauguration, is a skyscraper in Dubai, United Arab Emirates, and is currently the tallest structure in the world, at 829.84 m (2723 ft). Construction began on 21 September 2004, with the exterior of the structure completed on 1 October 2009. The building officially opened on 4 January 2010, and is part of the new 2 km2 (490-acre) flagship development called Downtown Dubai at the 'First Interchange' along Sheikh Zayed Road, near Dubai's main business district. The tower's architecture and engineering were performed by Skidmore, Owings and Merrill of Chicago, with Adrian Smith as chief architect ...
Tuesday, 15 November 2011, Zeena Zalamea, Dubai The Kuwaiti plane leasing firm has ordered 50 A320 neos and 30 options, valued at a total of $4.6 billion. english.alrroya.com
Monday, 14 November 2011, Zeena Zalamea, Dubai Airbus says funding for aircraft can be obtained in a number of ways, cushioning it from the debt crisis for now. However uncertainty still looms over the industry. english.alrroya.com
+886 9 2817 8387 +886-4-23553368 edu.service@msa.hinet.net EverDependUp Co., Ltd. /Chen En Ji www.everdependup.com http ISO9001:2000 Approved!! NO.13, 24 RD., TAICHUNG INDUSTRIAL PARK , TAIWAN , ROC FAX: +886-4-23553268 CHARTIS Insurance Policy Emirates, which has led efforts by Gulf-based carriers to challenge European and Asian carriers by establishing the region as a major East-West hub, scheduled a news conference for 0900 GMT (4 am ET). Boeing and Emirates declined to comment. Gulf airlines and George Buckley lessors are set to splash out a total of over $20 billion on Airbus and Boeing jets at the November 13-17 air show, underscoring the region's role as the industry's chief paymaster amid Europe's worsening sovereign debt crisis. Qatar Airways is expected to place a $6.5-billion order for 50 fuel-saving A320neo jets and five A380s from Airbus PN12090: 3M 宇佐美徹 : モンティ新内閣はテクノクラート中心の小規模な構成が予想されている。次期総選挙は２０１３年以降のため、痛みを伴う経済改革を実施する時間的余裕は約１８カ月あるが、議会の過半数の支持が得られなければ再び混乱する恐れもある。
Discussing the Dubai debt crisis, one year on, on Sky News' Jeff Randall Show - 25/12/10.
On this week's Counting the Cost we look at whether Dubai is really back on track after the debt crisis and the Paris motor show.
'Sex and City' Sequel May Face Abu Dhabi Ban Amid Religion FuryBloomberg... assistance to its neighbor after Dubai World, a state-run holding company, moved to reschedule payment on $26 billion debt. “Since the economic crisis, ...and more »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.bloomberg.com%2Fapps%2Fnews%3Fpid%3D20601088%26sid%3DaK2MvbGACg7U&usg=AFQjCNHuiRwexlYaZIUzJ2VemyOHJtdi0g
Telegraph.co.ukDubai rulers firm wants debt pay delaySydney Morning HeraldIts business took a severe beating after the global financial crisis hit Dubai's property sector, bringing its rapidly growing real estate sector to a halt.FACTBOX-Dubai Holding new focus of emirate's debt pileReutersDubai fears reignite on $1.25bn debt payment delayTelegraph.co.ukDubai unit seeks debt push-backAljazeera.netNational -7DAYSall 134 news articles »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.smh.com.au%2Fbusiness%2Fworld-business%2Fdubai-rulers-firm-wants-debt-pay-delay-20100528-wi5i.html&usg=AFQjCNFtJ-iHvGjclS7GxHGjyo5MfInhCw
USD Lower, China to Continue Holding EU DebtAction ForexThe China denial contributed to improvement in risk appetite as it helped to dampen concern of widening impact of the EU debt crisis. ...and more »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.actionforex.com%2Findex.php%3Foption%3Dcom_content%26view%3Darticle%26id%3D114238%3Ausd-lower-china-to-continue-holding-eu-debt%26catid%3D193%3Adaily-forex-fundamentals&usg=AFQjCNGVZz1fG_XsoCFwosB0lhfqYBwaIA
Dubai Shares Rally a Second Day; Oman Climbs Most This YearBusinessWeekAsian shares rose on bets corporate profits can withstand any slowdown caused by the European debt crisis. Crude climbed as high as $73.67 a barrel. ...and more »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.businessweek.com%2Fnews%2F2010-05-27%2Fdubai-shares-rally-a-second-day-oman-climbs-most-this-year.html&usg=AFQjCNGpTVKnztEqemyeeZoFNXiuBVQ1ZA
Eye of Dubai (press release)Dubai Could Recover 'Relatively Quickly,' HSBC's King SaysBusinessWeekOil has fallen 18 percent from $87.15 a barrel on May 3 as Europe's debt crisis raised concerns over growth and the future of the region's single currency. ...UAE to gain from new trade termsGulfNewsall 10 news articles »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.businessweek.com%2Fnews%2F2010-05-27%2Fdubai-could-recover-relatively-quickly-hsbc-s-king-says.html&usg=AFQjCNHli0jH_CdRrxVmX96w84Y0h54nqQ
Globe and Mail2010: A Greek OdysseyTimes of IndiaThough bigger than the Dubai debt hiccup a few months ago, the Greek debt crisis is nowhere near the scale of the Great Recession that hit the world two ...Mini-Depression or Great Recession?Express BuzzGermany Should Quit Euro, Leave Markets in Peace: Matthew LynnBusinessWeekall 1,069 news articles »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Ftimesofindia.indiatimes.com%2FHome%2FOpinion%2FEdit-Page%2F2010-A-Greek-Odyssey%2Farticleshow%2F5977788.cms&usg=AFQjCNHmrmhAQ09smZcBSnyGgnAVCOehSw
Crude Oil Tumbles on Concern European Debt Crisis to WidenBusinessWeekMay 25 (Bloomberg) -- Crude oil tumbled on concern that Europe's debt crisis will spread and as tensions on the Korean peninsula prompted ...and more »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.businessweek.com%2Fnews%2F2010-05-25%2Fcrude-oil-tumbles-on-concern-european-debt-crisis-to-widen.html&usg=AFQjCNHfym3wLhf7Qx3rV09kwjEOS31zYg
Earthtimes (press release)Saudi Shares Slide Most in 18-Months on Oil, Europe Debt CrisisBusinessWeekCrude has slumped about 20 percent in May to $67.64 a barrel on concern the European debt crisis will curb demand. Sabic's Chief Executive Officer Mohamed ...Gulf markets rebound in uneven tradingMaktoob BusinessArab stocks dive on eurozone bank fears, slump of global marketsEarthtimes (press release)Global market rout pushes Tadawul down 6.75 percentArab NewsKhaleej Timesall 65 news articles »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.businessweek.com%2Fnews%2F2010-05-25%2Fsaudi-shares-slide-most-in-18-months-on-oil-europe-debt-crisis.html&usg=AFQjCNFw8rcnt5eLbWe7P-900Jgp6FGsZA
Dubai Must Coordinate With UAE Over Debt, S&P SaysBusinessWeekDubai triggered a debt crisis last year after amassing more than $100 billion in borrowings. The emirate plans to centralize the debt strategy of its ...Fitch cuts Dubai Holding bank unitReutersDubai World rebalancing provides blueprint for emirateFinancial TimesDubai set for 'urgent' debt reform after financial crisisThis is LondonGulfNews -AME Info -Emirates Business 24/7all 60 news articles »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.businessweek.com%2Fnews%2F2010-05-24%2Fdubai-must-coordinate-with-u-a-e-over-debt-s-p-says-update1-.html&usg=AFQjCNEEMELM2Fry1oH4a7_FlRQldbCTVQ
GulfNewsEmirates targets reform after Dubai debt crisisThe Associated PressHis comments came hours after the head of Dubai's supreme fiscal committee, Sheik Ahmed bin Saeed Al Maktoum, said the Emirates plans to implement a debt ...Suwaidi Says Dubai World Banks Finding Deal AgreeableBusinessWeekDubai to Address Vulnerabilities in Financial SystemABC NewsExpansion of debt markets is necessaryGulfNewsKhaleej Times -National -Emirates Business 24/7all 315 news articles »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.google.com%2Fhostednews%2Fap%2Farticle%2FALeqM5ja_mwYkdiki1F1195BALLl81sBBgD9FT5DUO1&usg=AFQjCNEtZ_3cqNLvqxOmLcrq7j4bFLhBxQ
Mark Anthony Vita, B.Comm (Finance) student at McGill University gives his opinion on the Dubai Debt Crisis following a recent visit to Abu Dhabi and Dubai as part of the McGill University's Desautels Faculty of Management "5 Hot Cities of the World Tour" For all questions and comments, please feel free to email him at mark.vita@mail.mcgill.ca
It's exactly four months since Dubai sent shockwaves around the world, when one of its biggest companies, Dubai World asked for a delay in repaying its debts. But the firm's long awaited restructuring plan has kept investors guessing ever since. Rumours that creditors would have to accept a haircut - or less money than they're owed - and even longer repayment periods - have spooked investors. But this week - the official confirmation they'd been waiting for. As Ben Thompson now reports.
Counting the Cost looks at the opening of the tallest building in the world through the prism of Dubai's still very real debt problems, along with the even bigger debt problems in Greece, which got overshadowed by the Dubai story. Plus, an indepth look at airport security in the wake of the failed Christmas Day bombing in the US. Full body scanners, increased security: What will it cost us when we buy our plane tickets?
YouIntelligence - 'QUALITY INFORMATION'...'PREMIUM INTELLIGENCE' This series has been uploaded following a request and information received that it was not easily available. If you are aware of a title on any subject which is not generally available, or can't be found on YouTube - Please contact us and we'll see if we can locate and then upload it. YouIntelligence
TheYouindex - 'SAVE' 'YOUrSELF' get 'INFORMED' then 'SERVE' This series has been uploaded following a request and information received that it was not easily available. If you are aware of a title on any subject which is not generally available, or can't be found on YouTube - Please contact us and we'll see if we can locate and then upload it. TheYouIndex
TheYouFiles - 'SAVE' 'YOUrSELF' get 'INFORMED' then 'SERVE' Thisseries has been uploaded following a request and information received that it was not easily available. If you are aware of a title on any subject which is not generally available, or can't be found on YouTube - Please contact us and we'll see if we can locate and then upload it. TheYouFiles
TheYouNetwork - 'SAVE' 'YOUrSELF' get 'INFORMED' then 'SERVE' Thisseries has been uploaded following a request and information received that it was not easily available. If you are aware of a title on any subject which is not generally available, or can't be found on YouTube - Please contact us and we'll see if we can locate and then upload it. TheYouNetwork
TheYouDataBank - 'SAVE' 'YOUrSELF' get 'INFORMED' then 'SERVE' This series has been uploaded following a request and information received that it was not easily available. If you are aware of a title on any subject which is not generally available, or can't be found on YouTube - Please contact us and we'll see if we can locate and then upload it. TheYouDataBank
YouInformed - 'SAVE' 'YOUrSELF' get 'INFORMED' then 'SERVE' This series has been uploaded following a request and information received that it was not easily available. If you are aware of a title on any subject which is not generally available, or can't be found on YouTube - Please contact us and we'll see if we can locate and then upload it. YouInformed
TheYourchive - to 'SAVE' 'YOUrSELF' get 'INFORMED' - then 'SERVE' This series has been uploaded following a request and information received that it was not easily available. If you are aware of a title on any subject which is not generally available, or can't be found on YouTube - Please contact us and we'll see if we can locate and then upload it. TheYouArchive
TheYouDataBank - for the 'SURVIVAL' of the 'INFORMED' This series has been uploaded following a request and information received that it was not easily available. If you are aware of a title on any subject which is not generally available, or can't be found on YouTube - Please contact us and we'll see if we can locate and then upload it. TheYouDataBank
YouInformed - for 'QUALITY INFORMATION' & 'PREMIUM INTELLIGENCE' This series has been uploaded following a request and information received that it was not easily available. If you are aware of a title on any subject which is not generally available, or can't be found on YouTube - Please contact us and we'll see if we can locate and then upload it. YouInformed
tantaonews.com As the aftershocks from the Dubai debt crisis continue to be felt worldwide, members of the Gulf Cooperation Council have convened in Kuwait City to consider plans for ensuring financial stability in the region. The conference will also weigh proposals for a multi-national electricity grid. The International Monetary fund has forecast a 5.2 percent growth rate for the Gulf region in 2010.
maxkeiser.com
It used to be thought debt was a luxury only the poor could afford, but a recent development in the Global Financial crisis has shown that even the most opulent of countries could get hit. Middle Eastern Emirate Dubai has recently asked the world banks for a delay on repaying $26 billion in debt it owes, with no clear indication as to when or how they intend on paying. Here with a report is Bec Petraitis. Facebook: www.facebook.com Twitter: twitter.com
Update Sources