x Abu Dhabi, UAESunday 23 July 2017

Dubai World to meet creditors later on Monday

State-owned Dubai World will meet its main creditors later on Monday to discuss its request to delay repayment of US$26 billion.

DUBAI // State-owned Dubai World will meet its main creditors later on Monday to discuss its request to delay repayment of US$26 billion that shook global markets and confidence in the Gulf business hub, bankers said. The bankers, who declined to be identified as the talks are private, said the meeting would take place in the afternoon without being more specific. A Dubai World spokesman declined to comment.

An Abu Dhabi bank executive said last week London-listed Standard Chartered, HSBC, Lloyds and Royal Bank of Scotland, along with local lenders Emirates NBD and Abu Dhabi Commercial Bank were on the creditors panel. *Reuters