Petrol protests may delay diesel reform
The UPA government came under intense pressure on Thursday from within the ruling coalition and protesters to roll back the steepest petrol price hike in the country's history, less than 24 hours after it took the unpopular decision cheered by investors. Full Article
Reuters Showcase
Bharti Inks Deal
India's top mobile phone carrier to buy 49 pct in Qualcomm India broadband venture Full Article
Facebook IPO Fallout
Four of Wall Street's main market makers' losses total at least $100 mln Full Article
Aiming To Crack China
India's Mahindra taps Korean arm to push brand in world's largest auto market Full Article
Reuters India Mobile
Get the latest news on the go. Visit Reuters India on your mobile device. Full Coverage
Dubai Nakheel call delayed as bondholders bombard line
LONDON |
LONDON Nov 26 (Reuters) - A conference call for bond holders of Dubai-owned property firm Nakheel [NAKHD.UL] was postponed on Thursday after phone lines were overwhelmed by too many people calling in.
The call was to establish the size of the bondholder group and to appoint legal advisers to liaise with Dubai World, which is asking to delay payments on debt held by its subsidiary Nakheel.
Organisers said they had a full list of bond holders, after being asked by one investor who said he had become a bond holder in the last few hours.
Nakheel's Islamic bond prices extended losses, falling 14 points to 70, their lowest since February, according to Reuters data.
The debt XS0277553052=R, which was originally due to mature on Dec. 14, 2009, traded as high as 110 on Wednesday before the Dubai government said it would ask creditors to agree to a standstill on debt held by Nakheel and Dubai World and extend maturities until at least May next year.
(Reporting by Natsuko Waki and Jane Merriman; Editing by Ruth Pitchford)
((natsuko.waki@reuters.com, +44 207 542 6721, Reuters Messaging: natsuko.waki.reuters.com@reuters.net))
- Tweet this
- Link this
- Share this
- Digg this
- Reprints
Follow Reuters