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.
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.
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.
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.
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.
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.
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.
Dubai World disappointed creditors on Monday by making little progress on securing standstill on $22 billion (13.6 billion pounds) of debt, as a key creditor meeting turned out to be a tame affair with less than half the expected attendees showing up.
Dubai World disappointed creditors on Monday by making little progress on securing standstill on $22 billion of debt, as a key creditor meeting turned out to be a tame affair with less than half the expected attendees showing up.
Dubai World , faced with a $22 billion debt restructuring, told creditors it had $40 billion in total debts and will pitch a standstill proposal in mid-January, a banking source said on Monday.
State-owned Dubai World did not ask creditors for a standstill on $22 billion (13.6 billion pounds) of debt at a meeting on Monday, adding to uncertainty for investors who have been in the dark for weeks and hurting local bank shares.
Dubai World [DBWLD.UL], faced with a $22 billion debt restructuring, told creditors it had $40 billion in total debts and will pitch a standstill proposal in mid-January, a banking source said on Monday.
Stock index futures rose on Monday on expectations that rising commodity prices and a downtick in the U.S. dollar would boost stocks in the energy and materials sectors.
Dubai World , which met its creditors on Monday, said it would work with lenders to seek a debt standstill in an orderly way and will get government financial support if an agreement is reached.
Stock index futures were higher on Monday on expectations that rising commodity prices and a downtick in the U.S. dollar would boost stocks in the energy and materials sectors.
State-owned Dubai World did not ask creditors for a standstill on its $22 billion debt at a meeting on Monday, adding to uncertainty for investors who have been in the dark for weeks and hurting local bank shares.
Dubai World will not make any concrete proposals to delay $22 billion in debt when it meets creditors on Monday, a move that is likely to dismay investors who have been left in the dark for weeks.
Dubai World will not make any specific proposals on a debt standstill at Monday's meeting with creditors, a source close to Dubai World told Reuters.
Stock index futures pointed to a slightly higher opening on Wall Street on Monday, with futures for the S&P 500 up 0.13 percent, Dow Jones futures up 0.1 percent and Nasdaq 100 futures up 0.07 percent at 0845 GMT (3:45 a.m. EST).
Asian share markets struggled to hold early gains on Monday, with bank shares pressuring some lower even as tech stocks gained, while the dollar held steady on the yen and hovered near a three-month high on the euro.
Asian share markets rose broadly on Monday, with high-tech stocks following gains in U.S. rivals late last week, and the dollar held its ground near three-month highs against the euro and kept on a firmer footing against the yen.
Debt-ridden conglomerate Dubai World is expected on Monday to ask key creditors for more time to pay off its loans, but leave them none the wiser concerning their prospects of being paid back in full.
