Dubai Airports said it’s in talks with more cargo carriers about operating from the sheikdom’s new Al Maktoum hub while continuing to work on adding passenger airlines after the facility opened to them last month.
The Fontainebleau Miami Beach is booked solid next week as bankers prepare to crowd the iconic lobby for cocktails at an annual bond-market convention. For owner Jeffrey Soffer, the conference helps justify a $1 billion makeover that almost cost him the property three years ago.
Dubai World, the state-owned holding company seeking to alter the terms on $14.4 billion of bank debt, may raise as much as $19.4 billion in eight years by selling assets, a person with knowledge of the matter said.
Abu Dhabi Commercial Bank PJSC, the United Arab Emirates’ fourth-biggest bank, reported a 47 percent jump in third-quarter profit, beating analyst estimates, as non- interest income surged and charges declined.
Dubai named Sheikh Ahmed bin Saeed Al Maktoum, head of Emirates airline and uncle of the state’s ruler, as chairman of Dubai World in a board revamp a year after the company said it would halt loan repayments, roiling markets.
Dubai World, the state-owned holding company that sought to alter the terms on about $25 billion of debt, signed a final deal with creditors, marking the end of a restructuring that roiled global markets in 2009.
Dubai World, the state-owned holding company, reached an agreement with its main creditor group to restructure $23.5 billion of liabilities as it seeks to resolve a debt crisis that roiled global markets last year.