Dubai Group LLC, an investment company owned by the emirate’s ruler, agreed on final terms to restructure $6 billion of debt with its main lenders, helping extend a rally in the shares of the sheikhdom’s biggest bank.
Dubai’s government is considering issuing bonds again this year and selling stakes in its companies to the public as the real estate industry spurs an economic recovery, the emirate’s top finance official said.
Jauan Salem Al Dhaheri, a board member of the Abu Dhabi Investment Authority and secretary general of the emirate’s Supreme Petroleum Council, has died, according to a condolence message on the ruler of Dubai’s website.
Dubai’s ruler Sheikh Mohammed bin Rashid Al Maktoum said his Godolphin stables in Britain won’t participate in races until all the horses pass drug tests after 11 of the thoroughbreds were barred because of doping.
Dubai may make a payment toward its $20 billion loan to neighboring Abu Dhabi and the United Arab Emirates central bank next year as the emirate’s economic recovery solidifies, according to Bank of America Corp.
Dubai International Capital LLC hired five executives from Deloitte & Touche LLP as the private equity firm seeks to increase the value of its investments in companies including Mauser AG and Doncasters Group Ltd.