A Singapore court dismissed a suit by Dubai’s Drydocks World LLC against Singaporean tycoon Tan Boy Tee for breaching an agreement tied to a $2.4 billion takeover deal. Drydocks, which sued Tan for breaching a three-year non- compete clause, relied on “hearsay evidence,” Singapore High Court Judge Lai Siu Chiu said in an Aug. 25 ruling, publicly released today. Dubai World’s ship-repair unit is …

Dubai World sees progress in talks with small creditors

Dubai World sees progress in talks with small creditors

Dubai World: Debt deal with small lenders soon

Dubai World: Debt deal with small lenders soon

Troubled conglomerate Dubai World has begun talks with small creditors, not included in the coordination committee of banks on its restructuring plan, to avoid any lawsuits, a UAE newspaper said on Su. … Dubai Business – Kippreport …

Dubai Business – Kippreport …. meets every month to assess the situation of banks, adding the amount is available for banks with capital adequacy ratios of less than 11 percent. UAE banks are heavily exposed to Dubai debt restructuring and a document provided to Reuters revealed on Wednesday that the state flagship firm

Dubai World’s joint venture partner in the CityCenter complex of Las Vegas, MGM Mirage is anticipating the $8.5billion resort will provide a much needed boost to the company’s bottom line.

CityCenter Las Vegas is expected to underpin the balance sheets of its owners Dubai World, and MGM Mirage.

March 4 (Bloomberg) — Danske Bank A/S took control of a 104-year-old office building in New York’s Times Square from Istithmar World PJSC, the second loss of a Manhattan property by the Dubai World unit in three months.

March 3 (Reuters) – Dubai-based lenders occupy an uncomfortable position in restructuring talks with debt-laden state-owned conglomerate Dubai World [DBWLD.UL ] due to the overlapping interests in the banking and broader commercial sectors.

Istithmar Building, the Dubai World unit that lost control of the W New York Union Square hotel after defaulting on loans, was accused in a lawsuit of stealing $3.2 million from a hotel fund. The lender, 201 Park Avenue South PEH, sued Istithmar in federal court in New York…

March 1 (Bloomberg) — Istithmar Building FZE, the Dubai World unit that lost control of the W New York Union Square hotel after defaulting on loans, was accused in a lawsuit of stealing $3.2 million from a hotel fund.

Dubai To Provide More Funds To Dubai World: Report

Feb. 23 (Bloomberg) — Most Asian stocks rose, reversing the MSCI Asia Pacific Index’s earlier decline, amid speculation Dubai World will be able to fix its finances.

Feb. 23 (Bloomberg) — Developing-nation stocks gained for a second day, sending the MSCI Emerging Markets Index to an almost three-week high, as rising metals lifted raw-material companies and investors speculated Dubai World will receive more bailout funds.