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pms.swastika  [ Belongs to: Platinum Circle ]

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Joined on: 2nd Sep 2009
Posted 746 messages to date
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Dubai World : Company that shaked the World Markets

Dubai World, the conglomerate whose debt worries are shaking global financial markets, is by its own description Dubai`s "flag bearer in global investments."
Dubai, one of the seven emirates comprising the United Arab Emirates, said late Wednesday it would restructure Dubai World and announced a six-month "standstill" on repayments of the conglomerate`s debt. The news sent shock waves through global markets.

Dubai World is a sprawling holding company, wholly owned by the city-state`s government, with interests in real estate, transportation, logistics and natural resources.

Dubai World`s Nakheel develops residential, retail, commercial and leisure real estate. It is behind projects such as "The World" that have made Dubai synonymous with grandiose and exorbitantly expensive real-estate projects.

"The World," for example, is a development of 300 islands in the shape of the world`s continents, being created off the coast of Dubai. The Palm Trilogy refers to three man-made islands shaped like palms.

Fear of a debt default by Dubai sent European stocks tumbling and the pound down on fears for U.K. bank exposure. The price of gold falled from its new record high and the dollar rebounded from recent lows.

In the transportation and logistics sector, DP World is one of the largest marine terminal operators in the world. It had 49 terminals and 12 new developments across 31 countries as of March.

Economic Zones World, a company that develops and manages real estate, is also owned by Dubai World. Its flagship company is the Jebel Ali Free Zone.

In the financial sector, Dubai World owns Istithmar, an alternative investment house. It acquired Barneys New York, the luxury specialty retailer, in 2007. Istithmar`s equity investment exceeds $2.6 billion across markets ranging from North America to the Far East.

Dubai Multi Commodities Centre, a subsidiary of Dubai World, is a market place for gold, diamonds, steel, base metals, tea and other commodities.

Dubai Natural Resources World was created as a business unit of Dubai World in 2008. It invests in natural resources, including energy, mining and metals, and agriculture. For example, the company has a joint venture in the oil and gas sector in both Russia and Nigeria.

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Swastika PMS...

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European banks may have $40 billion Dubai exposure

European banks could have as much as $40 billion of exposure to Dubai after helping to arrange a string of bonds and loans linked to the Middle East city-state.
Fears of a potential sovereign default by Dubai roiled financial markets Thursday, sinking stocks across Asia and Europe and pushing up government bond prices, after Dubai said late Wednesday it would restructure Dubai World and announced a six-month standstill on repayments of the conglomerate`s debt.

Credit Suisse said the middle-East region is unlikely to be more than 1% to 2% of banks` total exposure and Dubai itself would just be a small part of that. Still, it estimated that a 50% loss on the exposure that bank`s may hold would be the equivalent of a 5% increase in provisions in 2010.

For the banks, which could have an exposure of around 13 billion euros ($19.6 billion), that would equate to a combined hit of around 5 billion euros.

European Banks like Barclays, Deutsche Bank, Royal Bank of Scotland, BNP Paribas, ING Group, Lloyds Banking Group, Standard Chartered, HSBC had significant loan books in the Middle East.

U.S. banks that have been involved in bond or loan deals in Dubai include Bank of America, Citigroup & J.P. Morgan Chase.

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Swastika PMS...

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Indiabulls Financial - Indian Commodity Exchange Limited (ICEX) goes live

Indiabulls

Posted by : pms.swastika

Date :27th Nov, 2009 - 15:44

BSE: Rs 125.20 ( -0.63 % ), NSE: Rs. 125.75 ( -0.67 % )
Indiabulls Financial - Indian Commodity Exchange Limited (ICEX) goes live

Indian Commodity Exchange Ltd. (ICEX), a nation-wide multi-commodity Exchange, set up by Indiabulls Financial Services Ltd. in partnership with MMTC Ltd., has gone live effective on November 27, 2009.

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Reliance Capital to buy majority stake

Rel Capital

Posted by : pms.swastika

Date :27th Nov, 2009 - 15:41

BSE: Rs 833.35 ( 0.79 % ), NSE: Rs. 834.50 ( 0.80 % )
Reliance Capital to buy majority stake

Reliance Capital to buy majority stake in Quant Capital.

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Swastika PMS...

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Cement Sector hiked prices

News Now

Posted by : pms.swastika

Date :27th Nov, 2009 - 15:40

Cement Sector hiked prices

The cement sector has seen a hike in prices by Rs 5-15 per bag.

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Swastika PMS...

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ABG Shipyard`s Open Offer for Great Offshore

ABG Shipyard

Posted by : pms.swastika

Date :27th Nov, 2009 - 15:38

BSE: Rs 186.55 ( -2.91 % ), NSE: Rs. 188.00 ( -2.03 % )
ABG Shipyard`s Open Offer for Great Offshore

ABG Shipyard`s Open Offer for Great Offshore from December 03-22, 2009.

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Swastika PMS...

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Asahi Infrastructure bags Contract

Asahi Infra

Posted by : pms.swastika

Date :27th Nov, 2009 - 15:36

BSE: Rs 1.00 ( 0.00 % )
Asahi Infrastructure bags Contract

Asahi Infrastrutures bags order worth Rs. 24.99 Crs.

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Swastika PMS...

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