Recently added articles from 7 Days (Dubai, United Arab Emirates):
Credit ratings slashed.
Dec 04, 2009 ... Standard & Poor's has slashed the credit ratings of six Dubai state-linked companies to junk status, among them worldwide ports operator DP World, the international ratings agency said yesterday. S&P said it made the changes as the likelihood of extraordinary support from the ...
10 Grammy nods for Beyonc.
Dec 03, 2009 ... Beyonce topped the list of nominees for the 52nd Grammy Awards, leading the way with 10 nods ahead of teenage country star Taylor Swift with eight. R&B superstar Beyonce scooped nominations in the coveted record of the year and album of the year categories, for her single ...
Surprise cash from Abu Dhabi.
Dec 14, 2009 ... The government of Abu Dhabi today stepped in to help Dubai World with its obligations, in what was the least expected outcome of the debt situation. "The Government of Abu Dhabi has agreed to fund $10 billion to the Dubai Financial Support Fund that will be used to satisfy a series of ...
Debt only $26 billion.
Dec 01, 2009 ... Dubai World's restructuring is of the $26 billion of debt from its subsidiary developers Nakheel and Limitless, the group said today. Dubai World, Nakheel and Limitless are changing their structure and asking for talks on this debt, but the process does not include other ...
Abu Dhabi aid is bond issue.
Dec 16, 2009 ... Abu Dhabi's $10 billion financial aid to Dubai was in the form of bonds, on similar terms to a $10 billion bond issue to the UAE central bank in February. The February bond issue is for five years and pays a coupon of four per cent per annum. "The loan is based on the same terms ...