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Dubai Holding to Restructure with Haircuts, Fresh Funds-FT - ASHARQ AL-AWSAT English Archive
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DUBAI, (Reuters) – The restructuring of Dubai Holding will see banks taking a haircut and an injection of fresh government funds into the state-linked conglomerate, the vice chairman of Dubai’s top fiscal body told the Financial Times.

“It’s always like this, yes. The basic scenario, everybody has to chip in, everybody has to contribute, keeping in mind the long-term relationship,” Mohammed al-Shaibani said, according to a transcript of his interview published on its website.

So far, the government has pumped $2 billion into Dubai Holding, Shaibani, who is also the director of the Dubai ruler’s court, told the FT.

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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