Dubai Holding’s investment conglomerate, Dubai Group has said it is initiating talks with creditors after it missed an interest payment last month on a $33m loan, maturing on December 13, 2011.The fund was used for Dubai Group’s acquisition of a 49 per cent stake in Bank Islam Malaysia. Dubai Group has said in a statement, “These discussions are making good progress and Dubai Group is confident of a positive outcome that is beneficial to all stakeholders. In the meantime, Dubai Group continues to service its debts.”