UNITED ARAB EMIRATES

Dubai's Emaar Properties EMAR.DU on Wednesday said it would not merge with Dubai Holding's property units, a move analysts said protected the developer from Dubai Holdings' vulnerable debt position.

Fears that Dubai's debt problems are not limited to troubled state conglomerate Dubai World battered investor confidence in the world's top oil-exporting region and sent shares across the Gulf tumbling on Wednesday.

Concern over debts at Dubai's utility provider and losses at Nakheel, builder of the emirate's palm-shaped islands, hit markets on Wednesday, drowning out assurances by top officials that Gulf economies were sound.

Concern over debts at Dubai's utility provider and losses at Nakheel, builder of the emirate's palm-shaped islands, hit markets on Wednesday, drowning out assurances by top officials that Gulf economies were sound.

Concern over debts at Dubai's utility provider and losses at Nakheel, builder of the emirate's palm-shaped islands, hit markets on Wednesday, drowning out assurances by top officials that Gulf economies were sound.

Investor confidence in Dubai took a fresh knock on Tuesday as officials dithered over a rescue for debt-laden state conglomerate Dubai World and ratings agency Moody's slapped a downgrade on government-related debt.

Investor confidence in Dubai took a fresh knock on Tuesday as officials dithered over a rescue for debt-laden state conglomerate Dubai World DBWLD.UL and ratings agency Moody's slapped a downgrade on government-related debt.

State-controlled Dubai World is discussing a new date with banks for $3.5 billion in debt falling due on Dec. 14, but with no deal yet announced, spooked investors sold Dubai shares down to 21-week lows.

Six months is not enough time to restructure indebted state-controlled conglomerate Dubai World, the emirate's finance chief said on Tuesday, adding that it had enough assets to meet its obligations.

State-controlled Dubai World is discussing a new date with banks for $3.5 billion in debt falling due on December 14, but with no deal yet announced, spooked investors sold Dubai shares down to 21-week lows.

A group of international and regional banks met Dubai World for the first time on Monday as talks began on the company's efforts to restructure $26 billion of debt, the Financial Times reported on Monday.

Dubai ring-fenced prized assets such as Emirates airline from the $26 billion debt restructuring of Dubai World, denting fragile investor sentiment and raising questions on slated assets.

Dubai's government will not sell any assets to meet the obligations of state-owned Dubai World, but the conglomerate itself might sell some of its foreign assets, Dubai's finance chief told Al Jazeera television.

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Four British banks have a $5 billion combined exposure to Dubai World, making them the biggest foreign creditor group at the Dubai state-owned conglomerate, the Financial Times said on Thursday.

The International Monetary Fund expects to cut its 2010 growth forecast for the United Arab Emirates as economic activity slows due to the debt woes of state-owned Dubai World, a top IMF official said on Wednesday.

Government-owned Dubai World will meet its main creditors next week to discuss a request to delay payment on $26 billion in debt that has shaken global markets and confidence in the Gulf Arab business hub.

Dubai World's creditors have formed a committee comprising six banks that will meet with the troubled state-controlled conglomerate next week, a bank executive familiar with the matter said on Wednesday.

Gulf markets dropped again on Tuesday, taking little comfort from Dubai World's plan to restructure about $26 billion of debt and despite reassurances on economic resilience from the rulers of Abu Dhabi and Dubai.

Gulf markets dropped again on Tuesday, taking little comfort from Dubai World's plan to restructure about $26 billion of debt and despite reassurances on economic resilience from the rulers of Abu Dhabi and Dubai.

Britain's top share index was up 1.7 percent at midday on Tuesday, with banks and miners topping the leader board as concerns abated over Dubai's debt problems.