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Wednesday, 22 May 2013

Dubai World further reshuffles business units

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Reported by: AP/UNBconnect
Reported on: July 04, 2010 15:13 PM
Reported in: Business

DUBAI, Jul 4 (AP/UNB) - The main property unit of Dubai World has been given control of another real estate company run by the indebted state conglomerate.

Dubai's media office said in a statement dated Saturday that Dubai World's Nakheel division will assume management responsibility for the conglomerate's Limitless unit.

The company also named a new board at another Dubai World division, Economic Zones World, which runs business parks.

Financial problems at Dubai World last year sparked a financial panic that spread around the world. The company has spent months reorganizing its business while working on a plan to restructure
$23.5 billion worth of debt.

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