Dubai International Financial Centre Investments, the commercial arm of the financial free zone, posted losses of US$247.7 million last year compared with a loss of $561.4m in 2009, as it wrote down the value of property.
The company has been trying to lower debts and sell off assets this year, it said, adding it had renegotiated $1 billion (Dh3.67bn) worth of loans with the Government of Dubai as it looked to sell assets and lower its debts……………………………………….Full Article: Source