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Dubai World standstill request may come this month, says Al Ittihad
Source: BI-ME with Reuters , Author: Bi-ME staff
Posted: Wed February 10, 2010 2:12 pm
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UAE. Dubai World intends to officially ask creditors for a standstill on US$22 billion in debt this month, until it completes restructuring, reported Reuters, citing Al Ittihad Arabic-language daily.

Citing banking sources in creditor banks,  Al Ittihad said restructuring might require a period of six months.

"This important step by Dubai World this month will represent the most significant transitional phase in the group's negotiations with creditors," sources told the paper.

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: September 2, 2010
INTERNATIONAL. The triangle pattern has taken nearly 9 months so far, and a move over US$19.50 could start a multi-month run targeting US$26-US$29 per ounce for starters before a broad pullback.
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UAE. Given the recent developments in Saudi Arabia and India, there is now a greater level of hope that the TRA and RIM will reach an agreement about the manner in which BB Messenger services are provided.
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UAE. GCC Telecom markets are on the verge of saturation, while prices decline due to increasing competition, resulting in telcos profits being under very high pressure.