A sign warning the public that the beach is closed next to the Burj Al-Arab luxury hotel in Dubai, United Arab Emirates, on Monday (April 6). Dubai, one of seven sheikdoms in the United Arab Emirates, is now under a 24-hour lockdown over the Covid-19 (coronavirus) pandemic. - AP
DUBAI: Dubai is in talks to raise funds to shore up its finances as the Covid-19 (coronavirus) outbreak shuts down much of the economy, according to people familiar with the matter.
The emirate’s Department of Finance is holding discussions with banks about a potential bond sale or loan, the people said, asking not to be identified because the information is private. Talks are at an early stage and no final decision has been made, they said.
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