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Dubai ruler's firm said to have bigger debt woes - ASHARQ AL-AWSAT English Archive
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DUBAI, United Arab Emirates, (AP) – An investment company controlled by Dubai’s ruler is reportedly seeking to renegotiate the terms on $10 billion in debt — $4 billion more than previously disclosed.

Dubai Group has not publicly confirmed the effort, which has been reported elsewhere, including by the Emirati government-owned daily The National on Tuesday.

An official familiar with the negotiations confirmed the $10 billion figure to The Associated Press. The person spoke on condition of anonymity because the talks are private.

The total amount of debt involved includes $6 billion of bank debt previously made public plus $4 billion owed to investors elsewhere, the official said.

Representatives for Dubai Group’s parent company Dubai Holding and the Dubai government media office declined to comment.

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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