UK minister says Dubai World has made progress on debt plan

10 March 2010

The UK's Trade Minister Mervyn Davies said today that Dubai World has made 'some progress' in its talks with creditors with the restructuring. Speaking in the emirate, Davies was quoted by Bloomberg as saying, 'I think there are signs of some progress being made from what I hear from the banks and therefore I am hopeful that this progress can continue'. Dubai World's debt restructuring has hit confidence and tested UK banks' resolve in the short-term, he added.

A MEED Subscription...

Subscribe or upgrade your current package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications