Dubai: Talks between Dubai World and its creditors over $22 billion (Dh80.7 billion) of debt have shifted towards extending the maturity of existing loans and bonds, bankers familiar with the matter said.

“They agreed to keep paying interest on the debt and to reschedule maturities of the principal,” a senior banker at a local creditor told media yesterday. “The conglomerate needs to maintain a good long-term relationship with lenders.“[Read More]