The beleaguered Dubai World investment group will receive $9.5 billion from the Dubai government to help restructure its debt. Dubai World has presented an offer to its lenders to address the $23.5 billion it owes, and a decision on whether or not the creditors will accept the offer, is expected soon.
Initial response from analysts has been positive and the Dubai stock market experienced a 4 percent bump when the announcement was made public.
Source: BBC News
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