Abu Dhabi Business News

Dubai World’s request for a credit standstill last month, the eve of a Muslim holiday in the United Arab Emirates and the Gulf, rocked international markets and investor confidence, and led to an exodus out of regional stock markets once...

Creditors of Dubai World are expected to reject a standstill agreement proposed by the company, threatening to drag out negotiations over $26bn (£15bn) worth of the conglomerate's debt. Advisers involved in the talks tonight said that the process could take...

The name mentioned most by bankers and investors in the region is that of Dubai Holding , the personal investment vehicle of the ruler, Sheikh Mohammed bin Rashid al-Maktoum. “Dubai’s actions have introduced the risk that restructuring of other corporates...

New York and the Standard & Poor’s 500 Index added 1.1 per cent. “The fallout from the Dubai situation and the overall contagion effect should be both short-lived and quite limited,” wrote Suki Mann, a credit strategist at Societe Generale...

Both indexes were down about 6% after recording big losses on Monday. Dubai World has unveiled plans to restructure $26bn (£15.8bn) in debt, its first comment since the crisis began last Wednesday. It a statement the firm said that it...

Lebanon will not be drastically affected by the looming financial crisis in Dubai but Beirut should derive news lessons from the experience of the once-thriving emirate, economists and bankers said on Sunday. There was also a consensus that one should wait...

The leading UK index is down 98.12 at 5266.69, while Germany's DAX is off nearly 2% at 5689.51 and France's CAC has fallen 1.95% to 3728.35. There will be no guidance from Wall Street, since the US market is closed...

But for all its faults it remains a rare oasis of Middle East moderation and progress Jack Hughes in Dubai Pakistani workers play cricket during a break on a Dubai building site. Photograph: Chris Jackson/Getty Images A yachtsman friend of...

The UAE central bank in the federal capital, Abu Dhabi, says it stands behind local and foreign banks and is making available a special liquidity facility. Stock markets around the world fell sharply last week when the company Dubai World...

Jose Botelho de Vasconcelos said on Monday it was still too early for the oil exporters' group to make a decision on production changes before its December meeting, as the market remained oversupplied. The Organization of the Petroleum Exporting Countries...