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Canada Goose Outlet Mohammed al uk canada goose Shaibani, who is also director of the Dubai ruler court, told the FT in an interview that the government had canada goose coats on sale so far pumped $2 billion into the conglomerate, which is owned canada goose uk black friday by the Gulf emirate ruler.The group reached a restructuring agreement in September, but investors are still worried about debt troubles at Dubai network of state linked firms.Seventy percent of the banks involved were the same as those in the Dubai World restructuring process, Shaibani said.Last week, Canada Goose Parka the cost canadian goose jacket of insuring Dubai sovereign debt against default or restructuring canadagooseoutletjackets.com rose to a two month high after news that Dubai Holding financial services unit Dubai Group missed two payments on separate loans in recent weeks. cheap Canada Goose [ID:nLDE6AD019]Shaibani said Dubai Holding problems were the size of Dubai World but that its restructuring process was under way, canada goose store led by Dubai supreme finance canada goose black friday sale committee.Analysts have put Dubai Holding total debt at between $12 billion and $15 billion.Asked if the restructuring process for Dubai Holding would include injections of fresh funds and banks accepting haircuts on buy canada goose jacket their loans, Shaibani told the FT:is always like this, yes. The basic scenario, everybody Canada Goose online has to chip in, everybody has to contribute, canada goose coats keeping in mind the long term relationship.Andre Andrijanovs, an analyst at Exotix, said indications that $2 billion had been pumped into Dubai Holding were good sign but it was likely the sum had been Canada Goose Coats On Sale fed in over time and it was unclear which entity had benefited.Aside from Dubai Group, Dubai Holding includes private equity firm Dubai International Capital and real estate group Dubai Holding Commercial Operations Group (DHCOG), which Canada Goose Jackets are also being restructured.billion dollars is not such a big number (real estate developer) Nakheel alone got about $8 billion in new funds to pay down sukuks and with trade creditors, said Andrijanovs. also has significant development projects that had to be restarted and unpaid canada goose clearance bills with trade creditors. so even if the funds had gone there alone, the numbers aren that big.One source involved in the separate restructuring of Dubai World also speculated that fresh funds might have gone to kickstart real estate projects, saying it would be canada goose surprising if $2 billion had been injected to simply service debt.Dubai World wasn burning money at that rate it had funds going in to keep the lights on and pay interest, but this is a much bigger number, the source said.Dubai Holding was not available for comment.Shaibani said banks could expect to win advisory deals as the government considered future asset sales uk canada goose outlet and privatisations.will definitely go to Canada Goose Outlet banks that have been very supportive we are very loyal customers, he said. lot canada goose factory sale of the Dubai based companies are performing really well; it is only buy canada goose jacket cheap the international exposure that was giving us a bit of a challenge.BACK TO BASICS Shaibani said Dubai, one of seven cheap canada goose uk members of the United Arab Emirates federation, still faced many Canada Goose sale challenges in terms canada goose uk outlet of tackling its debt and recovering from the financial turmoil that has engulfed the Gulf tourism and trade hub since canada goose uk shop 2008.are still a lot of challenges. Each time we say. it is over, something comes up, whether it is government issues or company related issues, he said.He said the specific Dubai government debt stood at a total of between $36 billion and $38 billion.a lot of these debts are operational debts. People do not realise this. Some of these debts, for example, are infrastructure debt, he said.Total liabilities, including those held through other entities, are estimated by analysts to be over $100 billion.Shaibani said most of Dubai companies would be able to service and repay their debts: you break it Canada Goose Online down to individual companies it is doable. These companies are more than capable of handling their debt situation.A $1.25 billion Dubai bond issue in September marked the emirate return to debt markets since its November 2009 crisis. canada goose clearance sale The four times oversubscribed issue challenged predictions that Dubai would have trouble tapping credit markets as the emirate and its companies climbed out of their debt hole.Dubai World strategy that was agreed and was supported by 100 percent of the banks was based on a five year and eight year plan. Because they (creditors) realise that it is not logical for me to canada goose sale sell assets today, he said Canada Goose Outlet.