Middle East Economic Survey
Dubai World Presents Restructuring Proposal
Dubai World has submitted a restructuring proposal for its remaining $23.51bn debt to the coordinating committee representing its financial creditors, it announced on 25 March. This will involve the injection of $9.5bn in new funding into the company and its troubled real estate subsidiary Nakheel. The plan will still need to be finalized and approved by a majority of creditors. The total...