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Dubai Debt Handling may Affect Future Investment-Mandelson - ASHARQ AL-AWSAT English Archive
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DUBAI, (Reuters) – Dubai’s handling of the debt crisis surrounding its flagship conglomerate Dubai World will affect its ability to attract future investment, British Business Secretary Peter Mandelson said on Sunday.

“Dubai has to be conscious of the fact that how it resolves its current problems will mean a great deal for the Dubai brand, its reputation and how it secures investment from overseas in the future,” he told a British business group meeting in the Gulf Arab emirate.

Dubai World rattled global markets on Nov. 25 with plans to request a delay on repaying $26 billion in debt linked to its main propery units Nakheel and Limitless World. It staved off default on a $4.1 billion Islamic bond linked to Nakheel after a last minute bailout from Abu Dhabi.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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