UK banks owed $5bn by Dubai World
Lending believed to be focused on the still-performing parts of emirate holding company, including DP World and Jebel Ali Free Zone
Builders weigh cost of Dubai’s debt woes
International construction groups warn they will have to revisit contracts they had thought to be state-supported
Egypt’s Muslim Brotherhood split
Banned opposition party faces dilemma over next year’s parliamentary elections
IMF forecast
The International Monetary Fund yesterday said Dubai’s debt crisis could shave a percentage point off its 3 per cent 2010 forecast for the United Arab Emirates’…
Troubles play into hands of Abu Dhabi
The crisis in Dubai is testing its relationship with the capital, where some believe its brash neighbour needs a harsh lesson to deter it from repeating mistakes
S&P downgrades Dubai banks
Standard & Poor’s, the rating agency, has downgraded a clutch of major Dubai-based banks due to their exposure to a troubled state-owned conglomerate
Poorer nations sign deal on trade tariff cuts
More than 20 emerging economies – including Brazil, Egypt, India and South Korea – yesterday signed a tariff-cutting deal between themselves that served to underscore…
Sukuk restructuring crunch-point looms
Dubai World’s call for a standstill agreement with creditors has begun a vital process, with many trying to work out the rights of creditors and how the restructuring might play out
Dubai ruler’s racehorse buying spree falters
Sheikh Mohammed’s passion for horses may become a casualty of his emirate’s debt crisis
Israel strips thousands of Palestinians of Jerusalem residency rights
More residence permits revoked in 2008 than in any other year since 1967 war
Netanyahu faces Right-wing protests over settlement freeze
Israeli leader criticised for agreeing a partial halt to Jewish settlement construction in occupied territory
Dubai World bondholders step up pressure
Lawyers representing holders of sukuk bonds from Nakheel, the real estate unit of Dubai World, are expected to reject any attempt by the government-owned holding company to call a standstill on its debts
Analysts see need for UAE banking aid
The United Arab Emirates may have to do more to support its banks and prevent the woes of a leading Dubai-owned conglomerate from causing losses and derailing a tentative economic recovery, say bankers and analysts
Iran vows to enrich uranium further
Iran announced yesterday its intention to enrich uranium to a higher level, another provocative move that could pave the way for tougher sanctions. Mahmoud…
Netanyahu faces rightwing protests
The Israeli prime minister is under mounting pressure from rightwing activists and settlers, who are furious at his decision to impose a partial construction freeze on Jewish settlements in the occupied West Bank
