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Posted: 04 Jun 2010 | 6:00 am
Yes that's billions and not millions as troubled Middle East conglomerate Dubai World has reached an agreement for the restructuring of USD23.5 billion in debt.
Part of the package includes conversion of UDD8.9 billion into equity in property arm Nakheel who has been hit hard by the global real estate slowdown.
At the heart of the deal remains a bail out initiative by Government led banks in Abu Dhabi followed by a number of global banking institutions.
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Thai based group Zinc InVision have been recognized with a Senses Wellness Award for Best Medical Wellness Resort for The Farm at San Benito in the Philippines.
WEDNESDAY Business Crisis Management Seminar
After Phuket's recent tsunami and earthquake scares, environmental organization SEEK have arranged Business Continuity Management for Crisis Situations seminar.
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