Dubai Travel Guide

Top Dubai officials have been in talks with creditors in London on the possible repayment of all the banking debt owed by the troubled subsidiaries of the Dubai World group, a newspaper said on Sunday.

“The possibility of repaying all bank loans in full was discussed as a medium-term possibility” in the talks held between the delegation and financial leaders in London, The National said, quoting participants.

Dubai sent its ruler’s uncle, Sheikh Ahmed bin Saeed al-Maktoum, who heads its Supreme Financial Committee, and his deputy Mohammed al-Shaibani, to London to discuss Dubai World’s debt problems, after asking last month for a six-month freeze on payments to allow parts of the group to be restructured.
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Light rain fell in parts of Dubai and Sharjah on Saturday, with the Dubai Meteorological Office forecasting more chances of rain in the morning.

A marine warning has been issued and the seas will be out of bounds for sailors and fishermen until Tuesday, according to forecasters. Waves up to ten feet are expected offshore.

The weather is expected to be partly cloudy, breezy and warm on Saturday afternoon and evening, with a maximum temperature of 25 degrees Celcius and a minimum temperature of 20 degrees Celcius.
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Dubai Holding, owned by the ruler of the Gulf emirate, will not sell or list its luxury hotelier Jumeirah Group to pay off debt maturing next year, Jumeirah Group’s chairman was quoted as saying on Sunday.

Al Bayan newspaper carried the remarks which Gerald Lawless made in an interview with Forbes magazine, published on Friday.

“Jumeirah and Dubai Holding are part of each other and Jumeirah is not going anywhere,” Lawless told the magazine. “Dubai Holding will be fine.”
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