IMF backs Dubai debt proposal

The impact of the $23.5-billion (Dh86.24 billion) Dubai World and Nakheel debt restructuring plan will be manageable for UAE banks, analysts say. The Dubai Government on Thursday announced a comprehensive set of proposals for Dubai World creditors represented by 97 banks and financial institutions for the repayment of the debts, including a 100 per cent […]

Dubai’s transport department will spend up to 7.5 billion dirhams ($2.04 billion) in 2010 on projects although it expects less than half this amount in revenues for the year