Breaking United Arab Emirates Business News

Dubai World caused further recriminations on global markets yesterday, when the emirate's finance minister conceded that the debt- riddled group would need longer than six months to unravel its complex borrowing arrangements. Abdulrahman al-Saleh said the conglomerate, which two weeks...

Tuesday, December 8, 2009 by Nasra Ismail for the BBC's Biodun Iginla Published: Dec. 8, 2009 at 1:57 PM Dubai ruler speaks out on debt concerns UAE on National Day eases Dubai concerns Dubai stable on central bank assurances The...

Other stock markets are falling as well but it would seem that this is for other reasons than the Dubai debacle. However as this article shows the markets there have not yet returned to anything like normal. This is from...

United Arab Emirates — Dubai's main stock market plunged for a second consecutive day today and an international ratings agency again downgraded six state-linked companies as fresh concerns surfaced about the troubled Arab boomtown's debt woes. The twin blows came...

The market] did not react well to Dubai government news, which again cast a cloud of doubt,” said Ayman al-Saheb, Darahem Financial Brokerage director of operations.  Emaar Properties fell the maximum 10 percent, while contractor Arabtec and Dubai Financial Market...

The main Dubai Financial Market index fell 4.7%, after closing down almost 6% on Monday. Two weeks ago, Dubai World asked for a six-month delay on debt repayments. Credit agencies have since downgraded many leading Dubai companies. The Dubai index...

Lloyds and Royal Bank of Scotland will attend, along with local lenders Emirates NBD and Abu Dhabi Commercial Bank, an unnamed Abu Dhabi bank executive said last week. Dubai's finance chief said on Monday that state-controlled Dubai World might sell...

Kuwait’s The Investment Dar (TID) has asked creditors and investors to respond to a proposed restructuring plan before December 23. “It is important that TID, its banks and investors work together to conclude the proposed restructuring as quickly as possible,”...

I understand that the current financial crisis the world is faced with, was due to different factors and reasons, but most important was the real estate prices going up and dowsn, loans not being paid by debiters, to small banks,...

Saudi stocks closed down one per cent on Saturday as investors shrugged off neighbouring Dubai's debt crisis in the first trading day on the Riyadh market in nearly two weeks. The Gulf's largest equities market sank 2.3 per cent when...