Subscribe to RSS feedNeighbour stumps up US$10bn to rescue Dubai World
by
Roger Hailey - Lloyd's List
—
last modified
Dec 15, 2009 11:58 AM
Abu Dhabi's has come to the rescue of Dubai World with a US$10bn bailout that will cover the state-owned group's immediate debts.
Dubai World, with total debts of around US$64bn, welcomed the announcement that oil-rich emirate Abu Dhabi would provide funds to pay off a US$4.1bn Islamic bond held by Dubai World’s property developer, Nakheel, which matured yesterday.
Dubai World said it would...
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