Tuesday, 23 February 2010 at 11:20, Reuters, Dubai
Dubai developer Nakheel's chief commercial officer Manal Shaheen has left the company as it continues to reduce its operations, a company spokeswoman said on Tuesday. The spokeswoman declined to give further details.
Dubai World which is in talks to restructure some $22bn of debt, is unlikely to pay off Nakheel's $980m Islamic bond due May 13, but all options are open, a source familiar with the matter said on Monday. Dubai World staved off default on a $4.1bn Islamic bond linked to Nakheel, after a last minute bailout from Abu Dhabi.
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