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LONDON: Britain’s top banks look likely to avoid massive losses on Dubai World’s debt pile, but have already seen about $1.5 billion wiped off profits due to problem loans in Dubai and the region last year.Optimism has grown this week that Dubai World is nearing a deal with creditors of its $26 billion debt that will see full repayment or only a small

Britain’s top banks look likely to avoid massive losses on Dubai World’s debt pile, but have already seen about 1 billion pounds wiped off profits due to problem loans in Dubai and the region last year.

March 12 (Bloomberg) — Dubai World creditors in London want clarification on how they will avoid further losses if they accept the state-owned holding company’s proposal, Al Bayan reported.

March 12 (Bloomberg) — Dubai World, the state-owned holding company restructuring $26 billion in debt, is seeking to separate “good” businesses from underperforming assets as part of its restructuring plan, the head of the city’s airline said.

Dubai’s market rallied to seven-week highs on Thursday on hopes for a Dubai World debt deal while some major creditor banks halted internal trading in the firm’s instruments, signalling an offer was approaching.

March 11 (Bloomberg) — Dubai World, the state-owned holding company restructuring $26 billion in debt, is yet to present a formal proposal to its creditors, said a spokeswoman for the emirate’s Department of Finance.

March 11 (Bloomberg) — Dubai shares rose to the highest in almost two months on speculation Dubai World, the state-owned holding company in talks to renegotiate $26 billion of debt, may announce better repayment terms than previously expected.

March 11 (Bloomberg) — Dubai shares rose to the highest in almost two months on speculation Dubai World, the state-owned holding company in talks to renegotiate $26 billion of debt, may announce better repayment terms than previously expected.

DUBAI, March 11 (Reuters) – Dubai World will present its first concrete proposals to local banks on Thursday on restructuring $22 billion in debt, The National newspaper reported, citing unnamed sources.

March 10 (Bloomberg) — Dubai World, the state-owned holding company seeking to renegotiate terms on $26 billion of debt, made “some progress” in talks with creditors, U.K. Trade Minister Mervyn Davies said.

March 10 (Bloomberg) — Dubai World, the state-owned holding company seeking to renegotiate terms on $26 billion of debt, made “some progress” in talks with creditors, U.K. Trade Minister Mervyn Davies said.

Lenders to Dubai World will get a range of options including full repayment once Abu Dhabi decides how much additional support it will provide its debt-strapped neighbor, sources close to the discussions said.

Lenders to Dubai World will get a range of options including full repayment once Abu Dhabi decides how much additional support it will provide its debt-strapped neighbor, sources close to the discussions said.

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March 10 (Bloomberg) — United Arab Emirates banks have a strong enough capital base to withstand any shocks that may result from the restructuring of Dubai World’s debt, said Younis Al Khoori , director general of the country’s finance ministry.