Asian laborers pour concrete on roofs of a series of under-construction villas at the Emirates Hills district in Dubai, United Arab Emirates, Thursday, March 27, 2014. (AP Photo/Kamran Jebreili)
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Dubai told international bankers Monday that it was gearing up for another boom and did not regret the pro-growth policies that brought it to the brink of default five years ago.Over a dozen top Dubai officials and executives met about 100 representatives of financial powerhouses including Deutsche Bank, Nomura Holdings and Fidelity Investments for the emirate's first big investor roadshow since the crisis.Abdul-Rahman al-Saleh, head of Dubai's finance department, said Monday that banks had shown willingness to help Dubai refinance an upcoming maturity of $1.9 billion in Islamic bonds this November.Shaibani told Reuters before the meeting that Dubai World had the means to repay the debt on time and expected to make some future repayments early.In a sign of confidence in Dubai World, an executive of Emirates NBD, Dubai's largest bank, said in London Monday that the bank might this year write back its nonperforming loan provisions against exposure to the conglomerate.
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