26.11.2009 - Dubai debt woes turn ugly after it seeks standstill deal
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
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