Saturday, March 27, 2010

Banks Fear Debt Repayment

The Bank creditors for Dubai World are concerned about the company's proposal to restructure its debts. This proposal came a day after they had stated to pay back its loans to the banks within eight years. There are seven banks that are negotiating with Dubai World, and the banks are saying they are concerned about the lack of clarity on payment of Interest to Dubai World Leaders. The banks feel that they will endure a big loss of debt repayment because Dubai World is giving preferential treatment to real estate developers.

These banks also sit on the co-ordination treatment, and some of the member's disagree with the proposal. The proposal was presented without agreement on interest payment. The committee is expected to present a response to the proposal Dubai World has made. Under the proposal Dubai World's creditors will receive their principle debt over five to eight years.

Saturday, March 20, 2010

Ongoing Investigation

The Dubai Police Force still has an ongoing investigation on the assassination of Mahmoud Al Mabhouh, a high level Hamas Official. Mabhouh was found dead in his hotel room at the Al Bustan Rotana on January 19th. The most recent count of suspects Dubai has released is 27 people. A majority of the suspects were traveling on falsified European or Australian passports.

The plot thickened when Dubai Police connected major US media outlet reports to the crime. Many of those who were involved in the crime were connected to the USA and corporations based in the US and in Israel. According to the New York Times at least two of the assassin's had entered the United States after they had left Dubai. Dubai Official believe that the suspects connected to the US are most likely members of the Mossad's Worldwide Network. According to Police reports 14 of the suspects used credit cards from META Bank, a regional American Bank, to pay for hotel rooms and travel arrangements. The Vice President of META Bank responded with a statement saying that the credit cards used where prepaid cards. The prepaid cards are used by American Companies to pay expatriates, employees, and contractors of their company who live in the US and in foreign countries.

Saturday, March 13, 2010

Dubai World

Dubai World is a global company that focuses on the growth in areas of Transport and Logistics, Drydocks and Maritime, Urban Development, and Investment and Financial Services. It contains some of the world's largest companies in their industries. Their vision is to become the foremost holding company, playing a key role in the global economy, and to create an outstanding shareholder. Their plan is to generate global socio-economic growth and obtain wealth through diversified investments. The chairman of Dubai World is Sultan Ahmed Bin Sulayem.

One of the major global developers and operators for Dubai World is Economic Zones World. This company is helping Dubai World create a network of infrastructures and expanding its international customer base. Economic Zones World is also a major developer for Asia, Africa, Europe, and North and South America.

Saturday, March 6, 2010


In recent news in Dubai a top official in the Palestinian militant group Hamas, was killed in a hotel there. The Dubai police have identified eleven suspects for the murder of Mahmoud Al Mabhouh. He was staying at the Al Bustan Rotana hotel and was found dead in his room on January 20th. Dubai has issued international arrest warrants for the eleven suspects. Dubai has a relatively low crime rate, but the city-state has had many high-profile murders in recent years. This is threatening its law-and-order reputation.

The militant group Hamas accuses the Israel spy agency the Mossad of carrying out the assassination. Mahmoud Al Mabhouh was a founding member of the movement Izzedine al-Qassam Brigades, which have carried out attacks against Israel. He was also a key link into smuggling Iranian weapons to Hamas militants in the Gaza Strip.