Dubai Holding gets $2bn lifeline

The Dubai government has decided to provide Dubai Holding with a $2bn lifeline as part of efforts to restructure the troubled conglomerate, Financial Times has reported. The government is willing to put more capital into the loss-making conglomerate that spans property, business parks and financial investments, director of the Ruler's Court, Mohammed al-Shaibani, said. "I don't want to put any more money in as the government, but I will do it as and when it's required," al-Shaibani told the newspaper, adding that banks could expect to win advisory deals as the government considered future asset sales and privatisations. "Priority will definitely go to banks that have been very supportive - we are very loyal customers," he said.