Dubai World says it has reached a deal «in principle» with a majority of its creditors on the company's $23.5 billion restructuring plan, according to AP. The indebted state company said Thursday a coordinating committee representing about 60 percent of its lenders had signed off in broad terms to the plan. Dubai's government outlined its long-awaited restructuring plan in late March, but the deal still required the approval of its creditors. Dubai World is the state conglomerate at the center of Dubai's more than $100 billion debt pile.
