UAE. Dubai state companies are securing bank financing as the latest tumult in global markets fails to derail the emirate's recovery from the 2009 debt crisis.
Dubai Holding LLC, one of the three main state-owned holding companies, reached an accord with lenders to extend a US$1.16 billion loan to December 2016, according to a company official. Port & Free Zone World FZE, an intermediate holding company for port operator DP World Ltd. (DPW), is raising US$850 million to refinance debt, three bankers familiar with the plan said. Investment Corporation of Dubai said on August 8 it will rep
INTERNATIONAL. A New York resident who says he bought and sold gold and gold futures and options, sued today in Manhattan federal court claiming the five banks overseeing the century-old benchmark colluded to manipulate it.
INTERNATIONAL. "If the London gold dealers had consistently shorted gold as maintained then they would have incurred losses of such a colossal scale to render the economic crisis a sideshow in comparison."
UAE. The passage of the draft Law through the FNC (which is an elected form of Parliamentary advisory body) is a key stage in the legislative process and it brings the draft Law one step closer to being enacted.
INTERNATIONAL. New Atlantic Council issue brief contends that the US has repeatedly failed to realize its goal of a political transition in Syria because of its narrow focus on summits and high-level diplomacy as the sole means of ending the conflict.
INTERNATIONAL. Syria will miss a major deadline next week in the program to destroy its chemical weapons production facilities, sources at the Organisation for the Prohibition of Chemical Weapons said.
INTERNATIONAL. A catastrophic disaster can - and will - happen again if the lessons of Macondo and other similar incidents are not learned and shared routinely; Change required to prevent future disasters, industry warned.
INTERNATIONAL. The Energy Information Agency has predicted that natural gas production in the US will continue to grow at an impressive pace. Right now output is close to 70 billion cubic feet a day and is expected to reach over 100 billion cubic feet per day by 2040.