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FINANCIAL NEWS
Investment Corporation of Dubai to fully pay back USD4b debt
09 Aug 2011
(MENAFN) Dubai state-run Investment Corporation of Dubai (ICD) stated that it would fully pay back USD4 billion worth of debt that is due later this month, reported AP.
The company planned to reassure investors amid fresh concerns about the strength of the global economy. Severe debt problems tied to another of the emirate’s government-run companies sent world markets reeling in late 2009.
ICD said that it would cover the USD4 billion by the due date of August 21. It has another USD2 billion from the same pile of loans that matures in 2013.
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BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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