Dubai World debt plan moving in right direction
The crisis hit Dubai World has been heading for completing its restructuring plans worth $26 billion debt according to Sheikh Ahmad Bin Saeed Al Maktoum, the Chairman of the Dubai Supreme Fiscal Committee. He said that soon a positive outcome is coming that will help to reinstate investors confidence that was lost due to Dubai World's failure to meet its financial obligations.
He declined to further divulge the matter given to its financial importance. He said that Dubai would soon achieve its past glories and achieve new heights of growth after completing the restructuring process.
Sheikh Ahmad asked for the need to pay more attention in the areas of tourism, re-export business and logistic and financial services. He assured creditors and investors for bearing long term relations with Dubai for being a part of the growth of the second-biggest of the United Arab Emirates' seven sheikhdoms.
New Zealand News
- Porsche reportedly developing electric version of 718 sports car
- Tesla Model Y Performance becomes little bit more expensive to order in China
- Porsche’s recently unveiled Mission R Concept previews electric race cars of future
- Chinese manufacturer GAC’s Aion V e-SUV can charge 0-80% in just 8 minutes
- Oshidori International exits Japanese casino race, citing serious ethical irregularities
- Plug-in cars’ share grows to 32% in Netherlands in September 2021
- Italian motorcycle racer Valentino Rossi enters e-bike business with VR46 MTB range
- Micro Mobility shows off production version of Microlino 2.0 and 3-wheeled e-scooter
- Chinese electric motorcycle maker Evoke Motorcycles to set up shops in Spain
- TenneT adds more electric BMWs to study use of EVs to support power grids