Dubai World, the state- owned holding company seeking to restructure its debt, moved to quell speculation it could present its restructuring plans to creditors on Thursday, as reported by an Arabic-language newspaper.
IBT Staff Reporter
Jan 07, 2010
Japan's new finance minister called for a weaker yen on Thursday and said he would work with the Bank of Japan to achieve an appropriate level, prompting a sharp slide in the currency against the dollar.
IBT Staff Reporter
Jan 07, 2010
Consumer confidence is strongest in emerging Asia, Brazil and Australia, but weakened slightly in the United States in the fourth quarter as Americans worried about job security, a survey showed on Wednesday.
IBT Staff Reporter
Jan 06, 2010
The Dubai Gold & Commodities Exchange (DGCX) has recorded 31.6% growth in volumes in 2009 as the Exchange recorded 1.5 million contracts valued at US $79 billion at the end of 2009. Surpassing the 2008 total volume of 1.142 million contracts, DGCX said that this is the highest annual volume to be achieved since inception.
IBT Staff Reporter
Jan 05, 2010
Dubai opened the world's tallest structure in a glitzy ceremony meant to put a brave face on crushing debt woes, leading some to wonder whether the tower is the emirate's crowning glory or its last hurrah.
IBT Staff Reporter
Jan 04, 2010
Dubai's Emaar Properties (EMAR.DU) opened the world's tallest tower on Monday, marking the completion of the last of its big local landmark projects and the start of a new strategy which is expected to focus on overseas projects, hotels and hospitals.
IBT Staff Reporter
Jan 04, 2010
Dubai's ruler inaugurates the world's tallest building on Monday, in a testament to the emirate's still strong ambitions to become a global business hub despite the debt problems that have dampened investor optimism.
IBT Staff Reporter
Jan 04, 2010
Nigeria described on Monday as unfair its inclusion alongside Afghanistan, Pakistan and Yemen on a list of countries whose air travellers will face tighter screening on journeys to the United States.
IBT Staff Reporter
Jan 04, 2010
Dubai opened the world's tallest structure in a glitzy ceremony meant to put a brave face on crushing debt woes, leading some to wonder whether the Burj Dubai is the emirate's crowning glory or its last hurrah.
IBT Staff Reporter
Jan 04, 2010
Started at the height of the economic boom and built by some 12,000 laborers, the world's tallest building will open on Monday in Dubai as the glitzy emirate seeks to rekindle optimism after its financial crisis.
IBT Staff Reporter
Jan 04, 2010
Dubai's ruler set up a panel to protect creditors of troubled mortgage lenders Amlak AMLK.DU and Tamweel TAML.DU on Wednesday, whose long-planned merger is slated to occur in early 2010.
IBT Staff Reporter
Dec 30, 2009
The Nigerian charged with trying to blow up a U.S. airliner planned to study Islamic law in Yemen, the Arabian peninsular state which is fighting a local branch of al Qaeda, the Nigerian government said on Tuesday.
IBT Staff Reporter
Dec 29, 2009
A $40 billion deal by the United Arab Emirates to acquire nuclear reactors puts it ahead in a drive to meet fast growing power needs among its Gulf neighbors, while also allowing it to export more of its oil.
IBT Staff Reporter
Dec 29, 2009
Dubai Properties Group, owned by the ruler of Dubai's holding company, replaced several executives including its chief financial officer on Sunday and pledged better corporate governance to improve operations.
IBT Staff Reporter
Dec 27, 2009
A South Korean group won a landmark deal to build and operate four nuclear reactors for the United Arab Emirates, beating more favored U.S. and French rivals to one of the Middle East's biggest ever energy contracts.
IBT Staff Reporter
Dec 27, 2009
A South Korean group won a landmark deal to build and operate four nuclear reactors for the United Arab Emirates, beating more favoured U.S. and French rivals to one of the Middle East's biggest ever energy contracts.
IBT Staff Reporter
Dec 27, 2009
A South Korean consortium won a $40 billion deal to build and operate four nuclear reactors for the United Arab Emirates, beating U.S. and French rivals to one of the Middle East's biggest ever energy contracts.
IBT Staff Reporter
Dec 27, 2009
A South Korean consortium has won a $40 billion contract to build several nuclear reactors for the United Arab Emirates, industry sources said on Sunday.
IBT Staff Reporter
Dec 27, 2009
In the annals of tall skyscrapers, there is no doubt that the soon-to-open Burj Dubai will be the world's tallest. But how tall is known to only a few.
IBT Staff Reporter
Dec 24, 2009
Dubai developer Deyaar said it is not in merger talks, and said it remained focused on exploring growth opportunities in the United Arab Emirates and other markets.
IBT Staff Reporter
Dec 23, 2009
Dubai World is likely to press for more time to restructure its $22 billion debt so markets can recover, which will ease credit conditions and enable it to sell assets at higher prices, bankers and analysts said.
IBT Staff Reporter
Dec 22, 2009
Dubai Financial Market DFM.DU(DFM) bid $121 million for Nasdaq Dubai, hitting New York-based Nasdaq OMX's (NDAQ.O) pockets, as well as the idea that international investor flows matter much in the Emirates.
IBT Staff Reporter
Dec 22, 2009