Page last updated at 20:18 GMT, Thursday, 20 May 2010 21:18 UK

Dubai World agrees debt deal with key banks

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Dubai World, the state-owned investment vehicle, says it has reached an agreement "in principle" with most of its bank lenders to restructure debt worth $23.5bn (£16.4bn).

It added it would be left with debts of $14.4bn after the restructuring.

Ben Thompson reports.

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