and yet Sir Nigel Kim Darroch WikiTrash & Horsemanure well-published to Redherring fools. Now hold your breath, Shut-up, Sit-down & Listen to Ministry of Foreign Affairs, All rights reserved… Your discretion is advised: – sexagenarian’s Space

and yet Sir Nigel Kim Darroch WikiTrash & Horsemanure well-published to Redherring fools. Now hold your breath, Shut-up, Sit-down & Listen to Ministry of Foreign Affairs, All rights reserved… Your discretion is advised: – sexagenarian’s Space.

London killed Cameron’s Canine & Mi6 Whore Nigel Kim Darroch Abu Dhabi Trip News. Is that really ain’t a big secret or the British Media ain’t worthy the worthless. No GoogledJunk and yet Sir Nigel Kim Darroch WikiTrash Horsemanure well-published to Redherring fools. Now hold your breath, Shut-up, Sit-down & Listen to Ministry of Foreign Affairs, All rights reserved… Your discretion is advised:

Foreign Minister H.H. Sheikh Abdullah bin Zayed Al Nahyan received here today British National Security Adviser Sir Nigel Kim Darroch who is currently visiting the UAE. They discussed topics of mutual interest and ways to enhance ties between the two friendly countries. Present were Mohammed Mahmoud Al Khaja, Director of the Foreign Minister’s office and British Ambassador Dominic Jermey. Hallelujah Mother of Elvis and Michael Jackson.

Dubai Group sued over 10 Billion Debt in London by international Banks

Sorting out Dubai Group’s $10bn debts was always going to be tougher than most negotiations over the emirate’s total $110 debt pile.

RBS, Commerzbank, Standard Bank and Commercial International Bank of Egypt calling for immediate repayment of their loans after claiming two years of talks had failed.

Now RBS, Commerzbank, Standard Bank and Commercial International Bank of Egypt have raised the stakes by launching arbitration proceedings in London, calling for immediate repayment of their loans after claiming two years of talks had failed.

RBS was co-chair of a group of partially-secured banks that made up $4.5bn of the $6bn owed to lenders. The remaining $4bn lies in inter-company loans with Dubai Group’s parent, Dubai Holding, owned by Dubai’s ruler, Sheikh Mohammed bin Rashid Al Maktoum.

Dubai Group raked up billions of dollars of debt to acquire mainly minority stakes in financial companies and real estate across the world, including Bank Islam Malaysia and regional investment banks EFG-Hermes and Shuaa Capital.

The value of those assets, put at around $3bn at the start of the debt talks in 2010, has declined to around $2bn, says one person aware of the matter.

The legal action in London stems from a fundamental disagreement between western banks seeking to exit the non-performing loans as soon as possible and local banks that arguing for longer term restructured loans that would have required lower provisioning.

Assuming the banks win an arbitration award against Dubai Group, they could then seek to attach their claims against Dubai Group assets worldwide.

Under the New York Convention of 1958, signed by the UAE, international arbitration awards should automatically be approved by Dubai courts.

One person aware of the situation says the claims threaten to push the investment company into insolvency, putting Dubai Group directors in legal jeopardy for potentially trading as an insolvent company.

But lawyers also point out that these domestic laws are rarely enforced in the UAE against any company, making implementation against a company owned by Dubai’s ruler even less likely.

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Here’s the deal.. Goldman Sachs doles to Drake & Scull $40M Fiat Money Printed Outta Thin-Air to be dumped in Dirham Market to become Dollars as much as $120 million.

Here’s the deal.. Goldman Sachs doles to Drake & Scull $40M Fiat Money Printed Outta Thin-Air to be dumped in Dirham Market to become Dollars as much as $120 million., a photo by quranix on Flickr.

DUBAI DINOSAURS HAIRCUT: Goldman Sachs Lends Drake & Scull $40 Million Seed Money to go and borrow elsewhere $120 million since Drake & Scull reported 93 percent drop in third-quarter profit. Here’s the deal.. Goldman Sachs doles to Drake & Scull $40M Fiat Money Printed Outta Thin-Air to be dumped in Dirham Market to become Dollars as much as $120 million. The big question is Drake & Scull an integrated end-to-end service provider of electrical and mechanical engineering (as its corporate file says) or what? Now hold your breath, Shut-up, Sit-down & Listen to the Legends of GoogledJunk, WikiTrash, the Mayhem, and the Misinformation Dale Crofts, Shaji Mathew and Mahmoud Kassem for Bloomberg Your discretion is advised:
GOLDMAN SACHS BUYS $40 MILLION OF WARRANTS IN DRAKE & SCULL
By Shaji Mathew and Mahmoud Kassem. Goldman Sachs Group Inc. bought warrants representing about 8.5 percent of the market value of Drake & Scull International PJSC, (DSI) a Dubai-based supplier of engineering services to the construction industry. The warrants have a notional value equal to 147 million dirhams ($40 million) with a five-year maturity and can be exercised after two years, Drake & Scull said today in a statement to the Dubai stock market. The company, whose shareholders include HSBC Private Bank, reported a 93 percent drop in third-quarter profit, missing analysts’ estimates. Drake & Scull said on Nov. 14 that it obtained a $120 million loan, coordinated by Goldman Sachs, (GS) to help it pursue “growth plans in North Africa, Asia and other growth markets and provide the liquidity to capitalize on various private public partnership projects.” Third-quarter profit retreated to 3.92 million dirhams, from 57.5 million dirhams a year earlier as contracting revenue dropped 26 percent, the company said in a statement yesterday. The median estimate of four analysts was for a profit of 37.8 million dirhams, according to data compiled by Bloomberg. The decline reflected a slowdown in the construction industry, according to the company. Productivity rates dropped across projects in the Gulf Cooperation Council countries and Africa, while the procurement cycle dipped because of the summer holiday season, Chief Financial Officer Osama Hamdan said in the statement. Drake & Scull has an order backlog of 7.5 billion dirhams, it said. Drake & Scull fell 4.3 percent to 71.8 fils at 1:59 p.m. in Dubai today. The stock declined 4.3 percent this year compared with a 17 percent advance for the benchmark DFM General Index.

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Sheikh Nimr Fucked Khamenei(iran), Sistani(Iraq), Hezbollah & Bahrainis in the ass Using Prince Nayef Penis. Trying save his own Butt Masterminded Qatif Riots to lure fools into Monarchy Scam that ignited Sunni Masses Animosity Against his Own Microminority Shiite. Sheikh Nimr was Busted while running away and shot in his ass instead of his head. He rode Arabspringe to turn Qatif into Iranian Brothel. He Failed Iran big time. Here is others say about this Dumbass Legend:

Sheikh Nimr Fucked Khamenei(iran), Sistani(Iraq), Hezbollah & Bahrainis in the ass Using Prince Nayef Penis. Trying save his own Butt Masterminded Qatif Riots to lure fools into Monarchy Scam that ignited Sunni Masses Animosity Against his Own Microminority Shiite. Sheikh Nimr was Busted while running away and shot in his ass instead of his head. He rode Arabspringe to turn Qatif into Iranian Brothel. He Failed Iran big time.
Here is others say about this Dumbass Legend:
Saudi Shiite Muslim men take part in Ashura mourning rituals to commemorate the killing of Imam Hussein, grandson of Prophet Mohammed, in the mostly Shiite Qatif region of Eastern Province. Qatif has seen deadly protests against Saudi’s Sunni rulers in recent months. Following the arrest of a popular, anti-regime Shiite cleric in Saudi Arabia, hundreds of demonstrators marched in protest. They challenged the kingdom’s royal family with chants such as “Down, Down with the House of Saud” and “Death to al-Saud,” the Daily Telegraph reported. But the protests ended in tragedy when police opened fire on the demonstrators, killing two men. Sheikh Nimr al-Nimr, the popular Shiite cleric and anti-government activist, has long inspired sentiment against the ruling family, although Saudi Arabia has managed to avoid the kind of protests that toppled governments in other countries during Arab Spring last year, Al Jazeera reported. “The speeches of Sheikh Nimr were very hot, and he’s always attacking the government,” a human rights activist told Al Jazeera. Activist say that Nimr was arrested on Sunday, after police chased him down and shot at him. Nimr had been arrested on accusations of “sedition,” Reuters reported. In a statement, the interior ministry said of Nimr’s arrest: “Security will not tolerate troublemakers who abuse the community and their nation,” according to the Telegraph. In demonstrations against Nimr’s arrest, activists said that protesters Akbar al-Shakuri and Mohammed al-Filfil were shot and killed by police, BBC News reported. The Saudi interior ministry, meanwhile, denies that there was police violence against protesters. The majority of people living in Eastern Province are Shiites, and they have long complained that they have been marginalized by the Sunni royal family, the BBC said.

It’s Fuckn’ False Ratings Prophets Endgame.  Dickheads. Eat, Shit & Die of Debt Daydreamin Rich Dickheads. Seigniorage Banksters & Sharia Scam is over. Assholes! It’s Capitalism Downtime Armageddon. Eat, Shit & Die Daydreaming Rich. Someone above the Law Mocked Ron Paul to Deliver Choreographed Statement Describing Senate Nonstop Bailouts & Debt Ceiling Jacking SINCERE. WTF. Competent Bernanke ain’t let Eurozone Austerity Spread Across USA. Who are you fucking now? As if the Senate and the Feds knew what they are doing. This is not an Accurate Testimony it is Deceptive indeed. Nonetheless US Economy and Treasuries Downgrade is Imminent. Who the fuck cares? Rating ain’t perspective no more. Lew Rockwell told RT. that Ron Paul Endeavour is the Genesis of Teaching and end of Politics. Lew. You Really Fucked-up this one big time. Ain’t that-Ron-Paul-that-I-know.

The Fuckn’ Satanists Seigniorage Banksters Scam is over. Everyone  knows now that Capitalism is Nothing than Eat, Shit, & Die. If 1st Amendment on YouTube is Scam, Spam and Deceptive then you had the Attention of Psycho Motherfucker Narcissist Scumbag who is Digging America’s Grave. Google must find that kid who habituates Toys”R”Us and fire him before he CompuServe youtube unless Google gonna wannabe Dickheads.

First they ignore you, then they laugh at you, then they fight you, then you win.

Time is up! Standup like a man or die like a coward 1000 times.

Obaid Karki is Paleoconservative Provocateur, Blackbelt Diehart Paulite Libertarian, Diogenesist, Spinoziste, Qutbist, Kabbalist, Pantheon, Hexalingual, Automath, Anti-Tribal Gentile Cabal, Unaffiliated to a STATE or any Organized Religiosity Cult and Satanists Seigniorage Banksters Scam

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Dubai unable to find a Fuckn’ Paki to Negotiate Trio Seigniorage Banksters Scammers : Royal Bank of Scotland Group Plc, Commerzbank AG and Standard Bank Group Ltd. Who abandoned talks with Dubai Group to Restructure $10 Billion? While Police Chief Redherring Intentionally Misleading & Distracting Public Ragn’ Rhetorical Conquest on Egyptian Taboo and Kickn’ Diego Maradona Buttock Outta Dubai Club. WTF. Here is Whitewashed Googledjunk Wall Street Friendly Reports:

Dubai unable to find a Fuckn’ Paki to Negotiate with Trio Seigniorage Banksters Scammers : Royal Bank of Scotland Group Plc, Commerzbank AG and Standard Bank Group Ltd. Who abandoned talks with Dubai Group to Restructure $10 Billion? While Police Chief Redherring Intentionally Misleading & Distracting Public Ragn’ Rhetorical Conquest on Egyptian Taboo and Kickn’ Diego Maradona Buttock Outta Dubai Club. WTF.

Here is Whitewashed Googledjunk Wall Street Friendly Reports:

Dubai Group $10 Billion Talks Said To Lose RBS Support

By Stefania Bianchi

Royal Bank of Scotland Group Plc (RBS), Commerzbank AG and Standard Bank Group Ltd. abandoned talks with Dubai Group to restructure $10 billion of debt after failing to reach an agreement, two people familiar with the matter said. The banks are dissatisfied with progress after 18 months of talks with the investment company, according to the people, who asked not to be identified because the discussions are private. RBS stepped down as co-chair of the coordinating committee of mostly unsecured lenders in the talks, one of the people said. A billboard advertises Dubai Properties, part of Dubai Holding, in Dubai, United Arab Emirates. Dubai Group, controlled by Dubai Holding LLC, is among several government-owned companies in the Middle Eastern emirate seeking to restructure loans after property and asset values slumped and credit markets froze. The breakdown in talks comes after Dubai International Capital LLC reached an agreement with lenders to change terms on $2.5 billion of debt in April and Drydocks World LLC said creditors support restructuring plans. “The divide between Dubai Group and its lenders was too wide to bridge,” Ahmad Alanani, Middle East director at Exotix Ltd. in Dubai, wrote today in emailed comments. “I wouldn’t be surprised if more lenders join the ranks of RBS, Commerzbank and Standard Bank in a bid to increase pressure on the company.” Dubai World A spokeswoman for Dubai Group, who asked not to be named because of company policy, said it’s still seeking to reach an agreement. Standard Bank won’t comment because of client confidentiality issues, Erik Larsen, a spokesman for the Johannesburg-based lender, said by telephone. Martin Halusa, a spokesman for Frankfurt-based Commerzbank AG, declined to comment. Reuters reported yesterday that the three banks abandoned talks with Dubai Group. Dubai’s benchmark stock index fell to the lowest in more than a week, dropping 0.2 percent to 1,488.39 at the 2 p.m. close. Dubai Investments PJSC, which owns stakes in 40 businesses, declined to the lowest level this month. Dubai, home to the world’s tallest tower and an indoor ski slope, roiled global markets in 2009 when Dubai World, one of the sheikhdom’s three main state-controlled holding companies, announced plans to delay payments. The emirate received a $20 billion loan from the United Arab Emirates’ central bank, the Abu Dhabi government and its banks to help it surmount the global credit crisis and the real estate crash. Dubai WorldDubai World reached a deal in March 2011 with about 80 banks to delay payments on $25 billion of debt. Dubai International Capital, the owner of Travelodge Ltd., reached an accord to alter terms of $2.5 billion of liabilities in April. Drydocks World LLC, which owns the Middle East’s biggest shipyard in Dubai, received approval from an “overwhelming majority” of creditors for its $2.2 billion debt restructuring proposal, the state-controlled company said April 5. Dubai Group appointed eight banks to represent creditors in two committees in 2011 to negotiate the terms on $6 billion of bank debt, with $4 billion owed to other investors. Paris-based Natixis SA’s Nexgen unit and Mashreqbank PSC (MASQ) of Dubai make up the committee of secured lenders. RBS and Emirates NBD PJSC (EMIRATES) were leading the group of partially-secured and unsecured lenders. Dubai Group invests in financial services and owns property in the U.S., according to its website. It holds stakes in companies including Dubai-based investment bank Shuaa Capital PSC, Cairo-based investment bank EFG-Hermes Holding SAE and BankMuscat SAOG in Oman. Paying Interest

The company proposed paying interest of 1 percent to 2.5 percent in a $6 billion debt restructuring proposal, three people familiar with the plan said in April. Secured creditors, whose loans are backed by assets, will be repaid principal in three years, according to the people. Banks that offered partially secured and unsecured loans will be returned principal in 12 years and receive additional interest at the end of the loan term, they said.

“The restructuring was complex and with no government support many of Dubai Group’s lenders felt disenfranchised,” Exotix’s Alanani said. To contact the reporter on this story: Stefania Bianchi in Dubai at sbianchi10@bloomberg.net

Dubai restructuring goes awry | beyondbrics

Things have been going Dubai’s way of late. The emirate may still have a debt burden of $110bn but its state-related entities have managed to sign restructuring after refinancing deal as the city’s economy recovers, riding its status as a financial haven from the Arab spring. But not everything is going Dubai’s way. It has emerged that three creditors last month pulled out of two-year restructuring talks over $6bn owed by the troubled Dubai Group, the investment arm of a conglomerate owned by the emirate’s ruler. Dubai Group, which owes $10bn when inter-company loans are included, was one of several state-linked investment arms that overplayed their hands during the boom on borrowed money. The unit has valued stakes in Malaysia’s Bank Islam but also serious exposure to the Greek and Cypriot banking sectors as one of the biggest shareholders in the Marfin Group. Other assets include stakes in troubled regional investment banks, Dubai-based Shuaa Capital and Cairo-based EFG-Hermes.

Rather than signing up to a consensual restructuring, RBS of the UK, Commerzbank of Germany and Standard Bank of South Africa have walked away from signing term sheets outlining a restructuring deal and resigned from the coordinating committee of banks. According to Reuters, one of the banks is mulling legal action to push the investment arm into insolvency. That may be no more than a negotiating tactic but while bankers downplay talk of actual legal action, the trio’s withdrawal clearly reflects exasperation at the interminable negotiations.

Dubai backed the restructuring of Dubai World, the conglomerate that triggered the emirate’s debt crisis in 2009, with a cash injection of $10bn borrowed from oil-rich Abu Dhabi. Since then, however, the government has played hardball in negotiations, saying it will not support any more restructuring deals, especially those identified as “non-strategic” for the emirate. Another unit of Dubai World, developer Limitless, is nearing a restructuring deal on $1.2bn in debts after its creditors abandoned repeated calls for government support. A 97 per cent majority of lenders voted in favour of a $2.2bn restructuring deal for Dubai’s Drydocks on Tuesday. The ship overhaul yard, a unit of Dubai World, has used insolvency protection at a tribunal set up to hear cases related to its parent, as Dubai World fights off a hedge fund that won a judgment in London ordering repayment of its portion of Drydocks’ debts. The deal is expected to become effective after rubber stamping by the tribunal on August 28.

In this case, creditors also signed a restructuring deal that came without guarantees or support. Resolution comes to Drydocks after three government-related entities handled several bond maturities, again managing to steer Dubai away from a damaging default. Another unit of Dubai Holding paid off its $500m bond earlier this year from internal revenues, while business park Jebel Ali Free Zone, another of Dubai World’s assets, has raised the funds needed to refinance its $2bn Islamic bond. The investment arm of Dubai’s financial centre also refinanced its $1.25bn sukuk. The government helped the deal by buying some of DIFC’s assets to encourage a new loan from lenders including Standard Chartered. That deal, described by some as a “secret bailout”, may have prompted a more combative stance from Dubai Group’s creditors. Yet trying to push the rulers’ company into insolvency in the Dubai courts is a colossally bad idea. Firstly, the courts’ insolvency codes are inadequate; second, going legal against the ruler is almost impossible to achieve and would only undermine creditor banks’ position in the Gulf’s financial centre. But the banks, facing minimal returns offered by Dubai Group, might have thought they had nothing to lose by calling for the ruler, the personal embodiment of Dubai’s government, to support one of his personal investment vehicles. Bad publicity amid all the positive noises on Dubai’s debt is bound to be embarrassing for the authorities. But whether aggressive sabre-rattling will force concessions is quite another matter.

RBS Pressures Dubai as $10 Billion Debt Talks Stall: Arab Credit

By Stefania Bianchi

Royal Bank of Scotland Group Plc, Commerzbank AG (CBK) and Standard Bank Group Ltd (SBK) may be betting Dubai will improve terms on a $10 billion debt restructuring to protect its reputation after a near default in 2009.

The banks walked away from talks with government-owned Dubai Group after 18 months without an accord, two people familiar with the situation said July 9. The banks disagreed with demands for loan maturities of 12 years, one of the people said, asking not to be identified because the negotiations aren’t public. The breakdown comes as the emirate seeks to restore investor confidence after state-owned holding company Dubai World’s near default in 2009 roiled global markets. In April, Dubai International Capital LLC agreed to change terms on $2.5 billion of debt and Drydocks World LLC said creditors support its restructuring plans, helping cement the emirate’s recovery. “This could be a negotiation tactic by the banks involved to get better terms from Dubai Group,” Fahd Iqbal, director of research at EFG Hermes, said in a telephone interview yesterday. “It’s unlikely that they’ll choose to pursue legal action given the lack of precedent in the United Arab Emirates.” The cost of insuring Dubai’s debt for five years fell 4 basis points to 351 yesterday, the lowest since July 6. Still, that’s more than double the level in neighboring Abu Dhabi, which helped bail out Dubai World. They’re also the second- highest after Bahrain among nations in the six-member Gulf Cooperation Council for which the swaps are traded.

RBS Steps Down

RBS stepped down as co-chair of the coordinating committee of mostly unsecured lenders in the talks, one of the people said. Dubai World reached a deal in March 2011 with about 80 banks to delay payments on $25 billion of debt. Dubai International Capital, the owner of Travelodge Ltd., reached an accord to alter terms of $2.5 billion of liabilities in April. “We don’t believe this will escalate as Dubai managed to restructure most of its debts during the last three years and will not take the chance to change route,” said Tariq Qaqish, Dubai-based deputy head of asset management at Al Mal Capital. “This might be a negotiation tactic” by the banks, he said. The yield on the Dubai government’s 6.396 percent Islamic bonds due November 2014 were little changed yesterday after dropping two basis points this month to 3.51 percent. The average yield on sovereign sukuk has declined four basis points in the period to 3.56 percent on July 9, according to the HSBC/Nasdaq index. The emirate’s $82 billion economy, which relies on trade and hospitality for more than a third of gross domestic product, benefited from a 10 percent increase in visitors last year. The property market is also picking up after the 2008 crash prompted a 65 percent drop in house prices. Fourth-quarter home sales rose 67 percent from a year earlier to 2.85 billion dirhams ($776 million) according to the emirate’s Land Department. Dubai Group appointed eight banks to represent creditors in two committees in 2011 to negotiate the terms on $6 billion of bank debt, with $4 billion owed to other investors. Paris-based Natixis (KN) SA’s Nexgen unit and Mashreqbank PSC of Dubai make up the committee of secured lenders. RBS and Emirates NBD PJSC were leading the group of partially-secured and unsecured lenders. Dubai Group invests in financial services and owns property in the U.S., according to its website. It holds stakes in companies including Dubai-based investment bank Shuaa Capital PSC, Cairo-based investment bank EFG-Hermes Holding SAE and BankMuscat SAOG in Oman.

12 Years

The company proposed paying interest of 1 percent to 2.5 percent, three people familiar with the plan said in April. Secured creditors, whose loans are backed by assets, will be repaid principal in three years, according to the people. Banks that offered partially secured and unsecured loans will be returned principal in 12 years and receive additional interest at the end of the loan term, they said. “The banks stamina continues to be tested on the refinancing terms and this deadlock may well drag on well past Ramadan starting in a couple of weeks,” Saud Masud, chief executive officer of SM Advisory Group LLC, a New York based investment firm, wrote in emailed comments. “Whether Dubai Group will finally bring in the government backstop to appease the lenders or increase the coupon as sweetener is yet to be seen.”

Britain’s RBS drops debt talks with Dubai ruler’s firm, citing failure to agree on terms

DUBAI, United Arab Emirates — The Royal Bank of Scotland said Tuesday it has backed out of talks with Dubai Group, an investment company controlled by the emirate’s ruler, to rework the terms on $10 billion in debt. The move could significantly complicate efforts by the struggling Dubai firm to dig itself out of its debt hole after more than a year and a half of wrangling with creditors. Dubai’s economy has improved considerably since the emirate’s well publicized financial crisis in 2009. But the latest impasse is a reminder of the challenges still facing its web of debt-laden, state-linked companies. They, along with the government, are estimated to carry more than $100 billion in debt. RBS was a key member of a coordinating committee negotiating with Dubai Group on behalf of partially secured and unsecured creditors. Local and international lenders together are owed $10 billion by the Dubai company. In a statement, RBS said it and other lenders presented a number of restructuring proposals that would have allowed Dubai Group to continue operating while meeting its obligations to its creditors. After failing to reach an agreement with the company, RBS said it decided to step down from the committee. “This decision was not taken lightly, as RBS has a strong track record of supporting restructures in the region, but a number of factors beyond our control have led us to consider other options in this case,” the bank said. It did not elaborate. RBS was partly nationalized by the British government during the height of the financial crisis there. It is working to shed some of its non-core businesses while reducing bad loan provisions. British taxpayers still own an 82 percent stake in the bank. The RBS talks were happening in parallel to separate negotiations by another committee involving a division of France’s Natixis SA and Dubai-based Mashreqbank. That latter group included Dubai Group’s secured creditors, which means their loans are backed by collateral. A spokesman for Dubai Group declined to discuss details of the negotiations with creditors, citing confidentiality agreements signed by all parties. “However, Dubai Group remains fully committed to reaching a consensual agreement with all key stakeholders and believes that this remains an achievable objective,” the Dubai Group spokesman said. He spoke on customary condition of anonymity in line with company policy. It is unclear what options disgruntled creditors might pursue now that talks appear stalled, though a lawsuit is one possibility. “You never want to see these things go to court. But that’s certainly an option,” an official at one of the company’s lenders said. The official spoke on condition of anonymity because the talks are private. Dubai Group is part of a conglomerate known as Dubai Holding. It owns property in the United States and has sizable stakes in several financial companies, including regional bank EFG-Hermes and Europe’s Marfin Popular Bank. Dubai Group first disclosed that it needed to begin debt talks with creditors in late 2010. It initially sought to hammer out revised terms on $6 billion of debt, but later it acknowledged a higher figure of $10 billion. Dubai, the Middle East’s commercial hub, shocked world markets in late 2009 when its debt challenges came to a head after years of breakneck growth. Concerns initially centered on the government-owned Dubai World conglomerate, but unsustainable debt loads at other state-linked companies quickly emerged. Dubai World signed an agreement with creditors to repay $25 billion worth of loans in March last year. Some Dubai companies have managed to arrange smaller restructuring packages of their own, though others are still locked in talks with creditors. Unlike government-owned Dubai World, Dubai Group and its parent are personally controlled by the city-state’s hereditary ruler, Sheik Mohammed bin Rashid Al Maktoum. That means cases involving them are not eligible to be heard in a special tribunal established in 2009 to deal with legal challenges involving Dubai World debt. Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Diego Maradona fired by Dubai club

Yahoo! Sports

From Yahoo! Sports: DUBAI, United Arab Emirates (AP) — Diego Maradona was fired as coach of Al Wasl on Tuesday after a season in which the soccer club finished in eighth place in a 12-team league and even failed to win a second-tier competition.

Am an Anti-Youtuber as my Fellow Paleoconservative Paulite-Libertarian Crowds do. Sorry.  Ain’t YouTubn’ no mo. I should boycotted YouTube 2 years ago when my Paulite Libertarian Crowds boycotted YouTube. It’s my Fault. I let ‘em down. Thousands of Obaid-Addicts beg me every day to Vlog again Sorry…. They feel the vacuum on YouTube; they kindly arranged Full-Streaming Channels like Aljazeera for me. YouTube realized now that they given the Birth of Staunch Enemy. YouTube Exploited our Innocence as Corporate Survival Kit. They are Above the Law. Their butts are ours. Now.

Google this…

If 1st Amendment on YouTube is Scam, Spam and Deceptive then we had the Attention of Psycho MuthaFuka Narcissist Scumbag who turned USA to Global Laughingstock. Google must hurry and find that Grafted Whore into Google’s Toys”R”Us Furnished Office before we find the Bitch and Auction his/her Organs on YouTube.

First they ignore you, then they laugh at you, then they fight you, then you win. Time is up! Standup like a man or die like a coward 1000 times.

Obaid Karki is Paleoconservative Provocateur, Blackbelt Diehart Paulite Libertarian, Diogenesist, Spinoziste, Qutbist, Kabbalist, Pantheon, Hexalingual, Automath, Anti-Tribal Gentile Cabal, Unaffiliated to a STATE or any Organized Religiosity Cult and Satanists Seigniorage Banksters Scam

St.Sheetrock’s Painfulpolitics Offensive Comedy Hepcat  עביד כארכי الأخطل عبيد كركي

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FRIENDLY GHOST BABY BORN WITHOUT BLOOD

Little Olivia Norton has been hailed a miracle by doctors – after being born with no blood.

Oliva, now six months, was born completely white because she had such a low count of haemoglobin – the chemical which carries oxygen in red blood cells – that it could not officially be classed as ‘blood’.

She was given less than two hours to live but survived thanks to emergency transfusions which transformed her into a glowing healthy pink colour.

Mother Louise Bearman, 31, a barrister’s clerk, told of her shock at giving birth to a “ghost white” baby whose condition was so rare she will now feature in medical text books.

She said: “Olivia was my first baby, so I didn’t really know what to expect – but I certainly didn’t think she’d be that colour.

“I’ll never forget what the doctors notes said – ‘white and floppy’.

“There were some complications before the birth, which was incredibly scary.

“Then when Olivia came out so white we didn’t know what was going on.

“It was such a relief when the doctors explained what was happening, and it was quite amazing when they put the blood in her and she slowly turned this amazing pink colour.

“She’s such a lovely baby, it means everything having her at home now.”

Louise and her greengrocer partner Paul Norton, 36, of Witham, Essex, first noticed something was wrong when they didn’t feel Olivia kicking for three days.

They went to Broomfield Hospital, in Chelmsford, and when nurses failed to spot any movement after a 15 minute scan doctors ordered an emergency caesarean.

Olivia was born six weeks early at 8.20pm on Saturday September 10, weighing 5lbs 3oz with her heartbeat dipping dangerously low.

Haemoglobin is the protein which gives blood its characteristic red colour and ability to carry oxygen around the body.

When Olivia was born she had haemoglobin levels of just three out of a normal level of 18, which meant the plasma in her blood could not be classified as proper blood.

The newborn was rushed to the hospital’s special care baby unit where she was monitored for two weeks and had her strength and colour restored with two blood transfusions.

Neonatal nurse Sharon Pilgrim, yesterday (Mon) said in 20 years in the job she had never heard of such low haemoglobin levels.

She said: “It was a miracle she survived. She was incredibly pale when born and had difficulties breathing.

“There was no sign of blood loss prior to the caesarean or during the operation.

“It was only when we carried out further tests on Louise that we discovered the baby had lost blood directly into her mum’s blood circulation.”

Louise added: “The hospital staff were amazing and called Olivia the ‘miracle baby’ and said if I hadn’t come in she would not have survived.

“Doctors still don’t know why it happened, it is one of those freak things.

“I want mums to realise how important a baby’s movement is in checking they are healthy. You have to trust your maternal instinct.”

Paddy & Mick on ebay

Paddy & Mick on ebay 

Paddy and Mick were walking along a street in London. Paddy looked in one of the shop windows and saw a sign that caught his eye. 

The sign read, “Suits £5.00 each, Shirts £2.00 each, trousers £2.50 per pair”.
Paddy said to his pal, “Mick look at the prices! We could buy a whole lot of those and when we get back to Ireland we could make a fortune by selling them on Ebay. Now when we go in you stay quiet, okay? Let me do all da talking ’cause if they hear our accents, they might think we’re thicko’s from Ireland and try to screw us. I’ll put on me best English accent.”
“Roight y’are Paddy, I’ll keep me mouth shut, so I will. You do all da business” said Mick.
They go in and Paddy said in a posh voice, “Hello my good man. I’ll take 50 suits at £5.00 each, 100 shirts at £2.00 each, and 50 pairs of trousers at £2.50 each. I’ll back up me truck ready to load ‘em on, so I will.”
The owner of the shop said quietly, “You’re from Ireland, aren’t you?”
“Well yes,” said a surprised Paddy. “What gave it away?”
The owner replied, “This is a dry-cleaners.”

HERE IS A HOREMANURE WORTH READING FROM STEFANIA BIANCHI MIKE BLOOMBERG’S BROTHEL IN DUBAI

THURSDAY, APRIL 5, 2012

Dubai International Capital LLC, the owner of Travelodge Ltd., reached an accord to alter terms of $2.5 billion of liabilities as Dubai’s state-linked companies restructure debt after roiling global markets in 2009.
Lenders will get 2 percent interest on about $2.15 billion of debt that will be extended for five years, Dubai Holding LLC, the company’s parent, said in an e-mailed statement today. The maturities of a further $350 million will be extended for three years at an “unchanged contractual rate of interest.”
Optimism about the Persian Gulf’s tourism and trade hub, which was rescued from default in 2009 by a $20 billion loan from the United Arab Emirates’ central bank and Abu Dhabi, has surged after state-owned Dubai World restructured $25 billion of debt last year. Dubai Holding Commercial Operations Group LLC repaid a $500 million bond that matured in February.
“We have seen Dubai Inc. achieving tangible progress on debt restructuring and refinancing, and making repayments on time,” Chavan Bhogaita, head of the markets strategy group at National Bank of Abu Dhabi PJSC, said in an e-mail today. “The combination of these factors, and the improved communication with the markets, has helped generate a much more positive tone in the debt capital markets toward Dubai credits.”
Market Gains
Yields on Dubai government’s dollar-denominated bonds dropped to record lows this year. Dubai’s benchmark index has advanced 25 percent this year, making it the best performing measure in the Persian Gulf.
Dubai International, the private equity unit owned by the emirate’s ruler, has already sold stakes in Sony Corp., European Aeronautic Defence & Space Co. and India’s ICICI Bank Ltd. in recent years. It still owns stakes in companies such as German industrial packager Mauser AG, alumina-products maker Almatis and Doncasters Group Ltd., according to its website.
The company sold its stake in Oger Telecom Ltd. in August and two months later offloaded the holding in hotel operator Ishraq Dubai for $130 million. It also sold its 45 percent interest in steel castings company KEF Holdings Ltd. to Tyco International Ltd. for $178 million in June after paying $126 million for the stake in September 2008.
‘No Pressure to Sell’
Dubai International is under “no pressure to sell assets,” Chief Executive Officer David Smoot said in the statement. “Despite the challenging macroeconomic environment, the portfolio is well-positioned to navigate current markets with less leverage, better liquidity and long-term financing, reflecting significant future value potential.”
A group of six lenders, HSBC Holdings Plc (HSBA), Emirates NBD PJSC, Royal Bank of Scotland Group Plc (RBS), Lloyds Banking Group Plc (LLOY), Mashreqbank PSC and Noor Islamic Bank PJSC, negotiated with Dubai International on behalf of about 20 lenders.
New Board
Dubai International is considering a sale of Mauser, people familiar with the plans said on Feb. 10. Its U.K. budget hotel chain Travelodge is restructuring its debt with financing from New York-based hedge funds Avenue Capital Group LLC and GoldenTree Asset Management LP.
Dubai Holding, owned by ruler Sheikh Mohammed Bin Rashid Al Maktoum, also appointed a new board for Dubai International with Fadel Al Ali, executive chairman of Dubai Holding Commercial Operations, becoming the chairman. Other board members include Smoot and three independent directors Aidan Birkett, Christopher Rowlands and Abdullah Sharafi.
Dubai Group
Dubai Holding said it is now focusing on restructuring the debt of Dubai Group LLC, another investment company owned by the emirate’s ruler.
“Dubai Holding will continue to focus on reaching a consensual agreement with Dubai Group lenders and remains confident that the Dubai Group restructuring will also reach a successful agreement,” CEO Ahmed Bin Byat said in the statement.
Dubai Group offered to pay creditors over five to 10 years as it seeks to restructure $6 billion of bank debt, a banker familiar with the proposal said in February. RBS, Emirates NBD and Mashreqbank PSC (MASQ) are among banks that are leading the talks with the company.