Wednesday 31 March 2010
ADCB's CEO says Dubai World debt plan very positive
Abu Dhabi Commercial Bank ADCB.AD, one of the region's most exposed lenders to indebted Dubai World [DBWLD.UL], said on Tuesday Dubai's $9.5 billion rescue plan for the conglomerate is "extremely positive".
FINANCIALS
"The offer demonstrates the support of the Dubai government, it is extremely positive," chief executive Ala'a Eraiqat told reporters on the sidelines of the bank's annual general meeting.
HSBC (HSBA.L), also one of the largest creditors to Dubai World, said earlier on Tuesday it backed the Dubai World restructuring plan, and that it expected positive results soon.END
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