Wednesday, 31 March 2010
RBS CEO positive on Dubai plan
Dubai World's DBWLD.UL debt restructuring plan is a positive development and sends the right signal, the chief executive of Royal Bank of Scotland (RBS.L) told a local newspaper on Wednesday.
Stephen Hester's comments followed remarks by other major Dubai World creditors, who expressed support for Dubai's $9.5 billion (6.3 billion pound) support plan for the conglomerate.
"As one of the lenders to Dubai World, we view the recent debt restructuring offer as a positive development," Hester told Gulf News. "In the overall context of Dubai's global credit standing, the move has sent out the right signals."
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