City Lend Dubai £10,000,000,000

J J

jrb

Well-Known Member
Joined
8 Oct 2008
Messages
36,016
Well, sort of.

Any chance of giving us all a free Wembley ticket if we get to the Carling Cup Final your Highness?

Sheikh Mansour bin Zayed Al Nahyan must be driving a very hard bargain. He's got Dubai by the Burj Al Arab. If he's prepared to pump £10bill into Dubai, £500mill to increase the capacity of COMS and to build the Sports City leisure destination is peanuts.

We're stinking rich. Roll on the good times, on and off the pitch.

Propertyweek.

Abu Dhabi backtracks to bail out Dubai World
09:01 | 14.12.09

By Ian Cundell

Abu Dhabi has reversed its stance on Dubai debt and provided $10bn to help state-owned holding company Dubai World meet its obligations, including $4.1bn needed to repay an Islamic bond maturing today for the property company Nakheel.

Dubai will use the rest of the money to make payments to Dubai World’s contractors, suppliers, interest and operating costs until the company reaches a standstill agreement with its creditors, Dubai’s government said in an e-mailed statement today.

'This support provides funding and a stable basis for the restructuring process, which continues,' Dubai World said in a separate e-mailed statement.
Click to expand...
 
Re: City Borrow Dubai £10,000,000,000

When did lend and borrow become seemingly interchangeable?
 
Re: City Borrow Dubai £10,000,000,000

how many bloody teachers do we have on this forum,its like being at school sometimes on here.
 
It's ok, I forgot to read the small print. The deal has been signed. Free Wembley tickets for everyone.
 
Re: City Borrow Dubai £10,000,000,000

leewill31 said:
how many bloody teachers do we have on this forum,its like being at school sometimes on here.
Click to expand...

There are so many grammatical & punctuation errors in this statement, that it appears the answer would have to be "not enough"!

;-)
 
jrb said:
Well, sort of.

Any chance of giving us all a free Wembley ticket if we get to the Carling Cup Final your Highness?

Sheikh Mansour bin Zayed Al Nahyan must be driving a very hard bargain. He's got Dubai by the Burj Al Arab. If he's prepared to pump £10bill into Dubai, £500mill to increase the capacity of COMS and to build the Sports City leisure destination is peanuts.

We're stinking rich. Roll on the good times, on and off the pitch.

Propertyweek.

Abu Dhabi backtracks to bail out Dubai World
09:01 | 14.12.09

By Ian Cundell

Abu Dhabi has reversed its stance on Dubai debt and provided $10bn to help state-owned holding company Dubai World meet its obligations, including $4.1bn needed to repay an Islamic bond maturing today for the property company Nakheel.

Dubai will use the rest of the money to make payments to Dubai World’s contractors, suppliers, interest and operating costs until the company reaches a standstill agreement with its creditors, Dubai’s government said in an e-mailed statement today.

'This support provides funding and a stable basis for the restructuring process, which continues,' Dubai World said in a separate e-mailed statement.
Click to expand...
Click to expand...
Dubai world is unable to meet its debt repayment schedule - it defaulted on its obligations recently. Abu Dhabi has effectively stepped in as guarantor.

Abu Dhabi is therefore taking on Risk and may not get back this money. Depends on whether this measure stabilises Investors confidence in Dubai and its institutions.

Effectively Abu Dhabi had no choice to do this because the whole region would be undermined if Abu Dhabi failed to step in. Initial reaction has been good, with huge rises in Gulf Stock markets and International markets have risen slightly as well.
 
Marvin said:
jrb said:
Well, sort of.

Any chance of giving us all a free Wembley ticket if we get to the Carling Cup Final your Highness?

Sheikh Mansour bin Zayed Al Nahyan must be driving a very hard bargain. He's got Dubai by the Burj Al Arab. If he's prepared to pump £10bill into Dubai, £500mill to increase the capacity of COMS and to build the Sports City leisure destination is peanuts.

We're stinking rich. Roll on the good times, on and off the pitch.

Propertyweek.
Click to expand...
Dubai world is unable to meet its debt repayment schedule - it defaulted on its obligations recently. Abu Dhabi has effectively stepped in as guarantor.

Abu Dhabi is therefore taking on Risk and may not get back this money. Depends on whether this measure stabilises Investors confidence in Dubai and its institutions.

Effectively Abu Dhabi had no choice to do this because the whole region would be undermined if Abu Dhabi failed to step in. Initial reaction has been good, with huge rises in Gulf Stock markets and International markets have risen slightly as well.
Click to expand...

Personally i do not like the way they are gambling with my money. Surely we should have been consulted a bit before this decision was made.

Hope they have left some in the pot for a few signings !!
 
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