Nakheel to pay $2.1b in debt early

Dubai's developer Nakheel behind the famed man-made palm-shaped islands says it is repaying 7.9 billion dirhams, or roughly $2.1 billion, four years before the last installment is due. The indebted state developer was scheduled to repay the credit over three installments between September 2015 and March 2018. Nakheel said on Wednesday that it made early repayments of 2.35 billion dirhams ($640 million) in February. The remaining 5.54 billion dirhams ($1.51 billion) is being paid this month, according to a news agency.