Dubai considers privatisation in fight against debt

DUBAI : Debt-laden Dubai is looking to privatise some of its public sector firms as well as offload international assets, but is waiting for the right time for a good return, officials said on Sunday.

The once-booming Gulf emirate sent jitters across global markets by demanding a standstill in payments on the debt of its largest conglomerate, Dubai World.

"According to the Dubai World plan, there is a possibility of selling some assets," said Mohammed al-Shaibani, the director of the Dubai Ruler's Court... We will be evaluating whether we sell part of it, privatise it, take it to the public market. This is an ongoing process," he said.

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