From Zawya Dow Jones: Dubai’s efforts to deal with its mountain of debt estimated to exceed $80 billion were dealt a hammer blow Wednesday after it asked for a standstill on the obligations of one its largest state-owned companies.

The request to extend the maturity until at least May 30 on Dubai World’s debts, which include a $3.52 billion sukuk due December issued by its subsidiary Nakheel, raised wider concerns about the emirate’s ability to meet its financial commitments………………………….Full Article: Source