"They (the creditors) think Dubai World is part of the government, which is not correct. The government is the owner of the company, but since its foundation it was clearly established that the company is not guaranteed by the Dubai government," Dubai's Department of Finance Director General Abdulrahman al-Saleh told Dubai Television.
The Dubai government on Friday promised to pump in all necessary resources to ensure long-term success of Dubai World, even as the state-owned investment holding firm's huge debts adversely impacted the markets world over.
The embattled Dubai government has successfully raised a further $5 billion from two Abu Dhabi banks as part of its long-term bond programme, signalling that investors are still showing trust in the oil-rich city-state.
Atlantis, The Palm is a 1,539 room, ocean-themed destination resort located at the centre of the crescent of the man-made Palm Island in Dubai.
The Dubai government said it is planning to open leading Dubai-owned companies for public equity participation in order to restructure those hit hard by the financial crisis.
The bank's governor, Sultan Nasser al-Suweidi, said he did not see "any reason for concern because UAE banks have increased their capitals, (and) as commercial banks have proven their ability to face the consequences of the world financial crisis."
Dubai government's announcement seeking a six-month reprieve on debt repayments has raised doubts over the Gulf emirate's ability to meet its financial obligations, but experts says this will not affect India much.
The Dubai's government has ordered its departments to cut spending by 15 per cent to save 3.7 billion dirhams (about Rs 4,602 crore), with the aim of reducing the emirate's deficit, its finance department has said.
Dubai World's financial indebtedness would come down to around $14.4 billion.
The Dubai government has restructured the board of Nakheel, the troubled realty arm of debt-ridden company Dubai World, naming Ali Rashed Ahmed Lootah as new chairman.
The Dubai government has announced it will extend as much as $9.5 billion to crisis-hit Dubai World, to help the conglomerate restructure its massive debt.
India's key exports to the UAE include gems and jewellery, petroleum products, metals, machinery and basmati rice.
The Indian government on Friday said it has sought detailed information from all ports associated with DP World to assess the impact of Dubai debt crisis on Indian shipping sector.
Dubai-based Al-Arabiya television quoted the chief of the Emirates' civil defence forces, Rached al-Matruchi, as saying that the blaze did not cause any casualties.
The Dubai government said on Monday that Abu Dhabi has agreed to give $10 billion in emergency funds that will go toward paying debts owed by its Dubai World conglomerate. It said $4.1 billion of the money will be used to pay off the debt from Dubai World's Nakheel property divisions that are due today (Monday).
The Singapore-based DBS Bank has said its total exposure to Dubai is around $1.28 billion and out of this only $400 million is to the troubled Dubai World, but the bank believes that the situation is manageable.
Princess Sheikha Latifa is the daughter of Sheikh Mohammed bin Rashid al-Maktoum, the ruler of Dubai and the prime minister of the UAE.
Dubai Holding, an investment firm of the Dubai government, has threatened to come out with an open offer for Orient-Express Hotels if the Tata group acquires a significant stake in the hotel chain. This comes exactly a month after the Tata group's Indian Hotels Company bought 10 per cent and expressed interest in striking a deal which was turned down by Orient-Express.
Liverpool FC co-owner Tom Hicks said on Tuesday he was not planning to sell a stake in the British soccer club.
DLF Ltd is forging a 50:50 joint venture with Nakheel, a large property developer of the UAE, for two integrated townships in India at a whopping investment of $10 billion.
'Case closed,' Dubai public prosecution says about Sridevi's death.
The Hinduja Group has signed a deal with Dubai World to offer healthcare services in India.
India has become a lucrative market for west Asian carriers like Flydubai.
A Dubai government supported company has awarded a sub-contract to India-based Larsen and Toubro for constructing a 108 million Dirham convention centre in Hyderabad.
The ICC is considering re-locating its headquarters from Lord's after 95 years to Dubai.
There could be a further delay in the return of Sridevi's mortal remains with the Dubai police informing the Indian embassy that another "clearance" was awaited before it could release the body.
Modi highlighted the importance of assimilating technology with governance to ensure equitable growth and prosperity for all.
The no-frills carrier was launched in 2009. It began India operations a year later.
But its sales pitch will remain muted till India opens up more seats on the route
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