Nakheel, Dubai's leading property company and owner of the Palm development, offshore of the Gulf city, is in talks with Dubai World, its heavily indebted parent, over the repayment of a $3.5 billion (£2.1 billion) Islamic bond. Dubai World, which also owns DP World, the world's No 3 port operator, is guarantor of the Nakheel bond, which is being watched closely by Islamic investors as a bellwether for the shaky finances of the city-state and the health of Islamic finance, generally. Dubai World...
Full Story: The Times
