Dubai asks Rothschild to advise on state fund
By Simeon Kerr in Dubai
Published: April 2 2009 23:22 | Last updated: April 2 2009 23:22
Dubai on Thursday said it had appointed Rothschild to advise the government on the creation of a financial support fund for state-linked entities worth at least $10bn.
The government has borrowed $10bn from the United Arab Emirates central bank as part of a broader $20bn bond programme and plans to use the cash to help companies owned or linked to the government refinance debts and settle bills.