Financial Paper

er2010/5/3

Dubai World in line for $9.5bn injection

Dubai unveiled a long awaited debt-restructuring plan yesterday, pledging to inject $9.5bn into the troubled conglomerate Dubai World, most of which will go to its developer Nakheel and spur  [spə:]( n.刺激(物)，激励 vt.激励，鞭策，促进) the emirate's economy. | 迪拜昨日公布了一项外界期待已久的债务重组计划，承诺将向陷入困境的企业集团迪拜世界(Dubai World)注资95亿美元，其中大部分资金用于为其旗下房地产部门Nakheel纾困，并刺激该酋长国经济增长。 |

The state support includes $3.8bn from the Dubai government over the next three years and the remaining $5.7bn from a $10bn loan granted by neighbouring Abu Dhabi. | 政府援助中有38亿美元将由迪拜政府在未来3年分期支付，剩余的57亿美元来自邻居阿布扎比酋长国提供的100亿美元贷款。 |

Dubai's reputation as the Gulf's financial and commercial hub has taken a battering  ['bætəriŋ]( n. 损坏，破坏，重创) since it surprised financial markets in November by asking to restructure $26bn in debts. Yesterday's plan was broadly welcomed as domestic stock markets rose and the cost of insuring against a default fell. | 去年11月迪拜要求对260亿美元的债务进行重组，震惊了全球各地的金融市场，该地作为海湾金融与商业中心的声望随之遭受重创。昨日公布的计划受到广泛欢迎，迪拜国内股市出现上涨，违约保险成本有所下降。 |

“There's no such thing as a magic wand  [wɔnd, wɑ:nd]( n.魔杖；[乐]指挥棒), but this should help a lot,” said Simon Cooper, regional chief executive of HSBC, a creditor(n.债权人；贷方；贷项) to Dubai World that sits on the co-ordinating committee of banks negotiating with the conglomerate [kɔn'glɔmərit]( n. 联合企业). | “像魔杖之类的东西是不存在的，但这笔注资应该能帮上大忙，”汇丰(HSBC)中东地区首席执行官西蒙•库珀(Simon Cooper) 表示。汇丰是迪拜世界的债权人之一，在与该集团进行谈判的银行协作委员会中也拥有席位。 |

“This lets people look forward, not backward. Dubai World's problems have caused some paralysis  [pəˈrælisis]( n.瘫痪，中风), and once it's behind us we will see a pick-up(好转).” | “这让人们向前看，而不是向后看。迪拜世界的问题导致一些领域出现瘫痪，一旦它的问题得到解决，我们就能看到经济出现起色。” |

The proposals would extend maturities  [məˈtjuəriti]( n. 成熟，(支票等的)到期) on bank loans and inject cash into the businesses, in the hope that(怀着 ... 希望，希望能) the holding company could be transformed into a cash-generating enterprise within five to eight years. Nakheel's 2010 and 2011...