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Dubai confident over $20bn repayment in 2014

Sheikh Ahmed bin Saeed Al Maktoum, head of Dubai's Supreme Fiscal Committee has said the emirate, which needs to repay $20bn to Abu Dhabi entities next year, will meet its obligations and isn't negotiating with its neighbour to roll over the debt, Bloomberg has reported. "Most of our business is doing well, there's growth, there's profitability, so I don't think we will have any issue" with repayments, said Sheikh Ahmed. Dubai, which was on the brink of a default in 2009, isn't in talks to renegotiate any of the debt coming due next year, he said.