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Dubai seeks debt relief for Nakheel, Dubai World

DUBAI // The government of Dubai will ask creditors to its two flagship firms, Dubai World and property group Nakheel, to a debt standstill as it restructured the Dubai World group, the government said in a statement on Wednesday. "Dubai World intends to ask all providers of financing to Dubai World and Nakheel to 'standstill' and extend maturities until at least 30 May 2010," the statement said.

The restructuring will be designed to address financial obligations and improve business efficiency for the future, the statement said. *Reuters

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UAE currency houses will be subject to new Central Bank rules

The proposed law change comes after a Central Bank decision this month to revoke the licences of two exchange houses. Pawan Singh / The National

New rules designed to tighten the regulation of money exchange houses are planned by the Central Bank in the wake of the closure of two exchange houses for breaking rules.  UAE currency houses will be subject to new Central Bank rules

Digital players fight for music domination

bz19-analysisNEW

Streaming services such as Spotify have left the likes of Apple looking outdated when it comes to free or low-cost music. But the big internet firms are ready to act.  Digital players fight for music domination

Emirates to delay A380 'wing crack' modifications

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The late delivery of new Airbus A380s has forced Emirates Airlines to push back by two months work to fix potential wing cracks on its existing fleet of superjumbos.  Emirates to delay A380 'wing crack' modifications

Keys to an evening of classic entertainment

Viktoriya Solyana plays a variety of music at Royal Meridian Hotel in Abu Dhabi. Ravindranath K / The National

The Life: Viktoriya Solyana is a pianist at Le Royal Meridien Abu Dhabi, and is awaiting her doctoral degree from Ukraine. She talks about a day in her life.  Keys to an evening of classic entertainment

Teach kids values and the world is their oyster

Gary Clement for The National

On the money: My son and I are creating our very own adventure book. A sort of scrapbook where we're writing down where we want to travel to, sticking in photographs of the places, including maps, writing bits of information - and a target date.  Teach kids values and the world is their oyster

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