French oil major Total is still hopeful of winning a $40 billion nuclear deal in Abu Dhabi, Chief Executive Christophe de Margerie said on Friday.
Banks outside the Gulf played down on Friday their exposure to Dubai debt, after fears the emirate could default and even derail world economic recovery prompted a sell-off in global markets.
The United Arab Emirate has total debt amounting to $184 billion at the end of 2009, according to estimates by Bank of America-Merrill Lynch, which said the region faces a heavy redemption schedule until 2013. Dubai's shock announcement this week that it is seeking to suspend payments on debt of its state-owned conglomerate Dubai World and property subsidiary Nakheel has roiled global markets, r...
U.S. stock index futures were sharply lower on Friday, a day after markets were shut for the U.S. Thanksgiving holiday, as a possible debt default at a Dubai state-owned conglomerate sparked fears of renewed global financial turmoil.
Dubai's debt troubles have exposed the fallacy of its once much-vaunted model of raising shining cities in the desert with foreign residents, finance and labor.
U.S. stock index futures were sharply lower on Friday, a day after markets were shut for the U.S. Thanksgiving holiday, as a possible debt default at a Dubai state-owned conglomerate sparked fears of renewed global financial turmoil.
European shares dipped by midsession on Friday as concerns about debt problems in Dubai rippled through the market, with banking and oil stocks among the worst performers.
U.S. stock index futures were sharply lower on Friday, a day after markets were shut for the U.S. Thanksgiving holiday, as a possible debt default at a Dubai state-owned conglomerate sparked fears of renewed global financial turmoil.
U.S. stock index futures were sharply lower on Friday, a day after markets were shut for the U.S. Thanksgiving holiday, as a possible debt default at a Dubai state-owned conglomerate sparked fears of renewed global financial turmoil.
Dubai debt default concerns continued to send shockwaves across the world on Friday, with heightened risk aversion pushing global equities sharply lower and prompting investors to take refuge in government bonds.
U.S. stock index futures pointed to a sharp drop when Wall Street reopens on Friday for half a session following Thanksgiving, as fears over Dubai's debt woes knocked stock markets around the world.
Fears about a global contagion from Dubai's debt crisis triggered a broad sell-off of world shares, oil and other assets on Friday, fuelling flows into the low-yielding yen and safe-haven government bonds.
Investors recoiled from risky assets on Friday and dumped shares in Asian banks and builders, fearing a Dubai debt default could reignite the financial turmoil of the credit crisis.
Dubai struggled to ease fears of debt default on Thursday after its move to delay repayments at two flagship firms shook confidence in the Middle East as a center for investment and a source of capital.
Dubai struggled to ease fears of debt default on Thursday after its move to delay repayments at two flagship firms shook confidence in the Middle East as a center for investment and a source of capital.
Dubai struggled to ease fears of debt default on Thursday after its move to delay repayments at two flagship firms shook confidence in the Middle East as a center for investment and a source of capital.
Abu Dhabi is not going to crow publicly over Dubai's troubles. But it will use the opportunity to assert control over its upstart neighbour. The price for Abu Dhabi's help could be prize assets like airline Emirates. Dubai has little choice but to do what it is told.
A dollar bond sale by Saudi-backed Gulf International Bank (GIB) was pulled after Dubai's move to delay repayment on billions of dollars of debt owed by its two flagship firms, sources said on Thursday.
Dubai's debt problems shook European banking shares on Thursday despite the emirate's efforts to minimize the impact of a debt restructuring plan at two of its biggest companies that raised fears of default.
Dubai said on Wednesday two of its flagship firms planned to delay repayment on billions of dollars of debt as a first step toward restructuring Dubai World, the conglomerate that spearheaded the emirate's breakneck growth.
Dubai will ask creditors of two of its flagship firms for a standstill on debt worth billions of dollars as a first step toward restructuring Dubai World, the conglomerate which spearheaded the emirate's breakneck growth.
A unit of General Electric Co raised $500 million in a 5-year Islamic bond sale, the first by a large U. S. conglomerate, as it looks to diversify its investor base.
