Entries Categorized as 'Dubai'

Dubai’s “First Foreclosure”

Date January 11, 2010

We bring you the 65,000’th post in the blogosphere informing you of impending doom because, hold your breath, someone managed to foreclose a mortgage in Sunny Dubai. Barclays Plc won the sheikdom’s first foreclosure cases in court, clearing the…

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Dubai Again, A WTF Remittance Scare

Date November 28, 2009

Bloomberg: India Studying Impact of Dubai’s Debt Delay Plan:

India, the world’s top recipient of migrant remittances, is examining the effect Dubai’s attempt to delay debt repayments may have on Asia’s third-largest economy, central bank Governo…

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Dubai World Seeks To Delay Debt Payment, The World Shivers

Date November 27, 2009

Picture this: Dubai World, an entity owned by the Dubai government, has borrowed about $60 billion. It’s not in great shape, so it asks its lenders for a “standstill” agreement, meaning “Listen, we can’t pay you for 6 months, ok? Not interest, not prin…

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