Dubai bourse rebounds on Dubai World hopes

26 August 2010

Reported news that that government-related Dubai World group offered a specific restructuring plan of its $23.5bn debt to creditor banks (that plan allegedly included proposed sales of key assets such as DP World) lifted the DFM General Index by 0.8%5% to 1,497.47 points. Real estate bellwether Emaar pushed 2.17% higher at Dhs3.30. Nasdaq Dubai-listed DP World, which is controlled 80% by Dubai World, ended flat at $0.48. Traded value surged 96% to Dhs87.71m, 50.27m shares changing hands (up 44%). Over the week the DFM Index added 0.38%.

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