Thursday 3 December 2009

Dubai World will pay debts, given time-UAE minister

It is only a matter of time before Dubai's troubled conglomerate Dubai World [DBWLD.UL] restructures its debt and meets its obligations, the United Arab Emirates economy minister said.

Sultan bin Saeed al-Mansouri, in remarks carried by the official WAM news agency late on Wednesday, also attacked "this negative campaign" against the UAE and Dubai, a member of the seven-emirate Gulf Arab federation.

"Dubai is an integral part of the United Arab Emirates, the second largest Arab economy," WAM quoted the minister as saying.

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