Dubai’s government said it will pump up to US$9.5bn into its chief conglomerate Dubai World and a key subsidiary as part of a long-awaited restructuring plan of the companies’ debt.

EMPG, or Education Media & Publishing Group, began life in its current guise in 2007 with the $4 billion takeover of the Harcourt US Schools Education business from European information and publishing group Reed Elsevier.

Dubai’s government said today it had received £6bn (€6.63bn) in emergency funds from oil-rich neighbour Abu Dhabi to pay debts owed by its struggling conglomerate.

Debt-burdened Dubai insisted today that it took into account the effect its bid to delay paying creditors would have on world markets.

Debt-swamped Dubai today asked for a six-month reprieve on paying its bills, causing a drop on world markets.

Property prices in the once red-hot Middle East boomtown of Dubai plunged 41% in the first three months of this year.

The Middle East investment arm of the Dubai government, DIC, have moved today to disassociate themselves from suggestions that they are still trying to buy Liverpool, or have moved on to Newcastle.

LIVERPOOL legend Kenny Dalglish has called on the boardroom’s warring factions to sort out their differences quickly for the good of the club.

The figurehead of Dubai International Capital’s attempt to buy into Liverpool has revealed the potential investors are willing to enter into a power-sharing agreement with current co-owner Tom Hicks.

Liverpool’s suitors Dubai International Capital were awaiting developments this morning following their latest attempt to take over the club.

LIVERPOOL co-owner Tom Hicks has not formally rejected Dubai International Capital’s reported offer for the club but remains unwilling to sell his stake, a source close to the American has revealed.

Manchester United manager Alex Ferguson has spoken in defence of his Liverpool counterpart Rafael Benitez by suggesting the Anfield club's owners have undermined him.

Liverpool owners Tom Hicks and George Gillett are unlikely to sell the club unless they receive an offer "which makes no financial sense", according to a business expert.

Liverpool co-owner Tom Hicks insisted Sunday he has no intention of accepting an offer for his stake in the club.

Dubai International Capital – the investment arm of the Dubai Government – is preparing to launch a £500m bid to buy Liverpool, according to reports.

The Dubai International Capital investment group have pulled out of a proposed takeover of Liverpool.

The takeover of Liverpool was thrown into confusion tonight when the club’s board met in a London Docklands hotel – ahead of the game at West Ham – and did not formally accept the bid from Dubai International Capital.

LIVERPOOL sources last night insisted that the takeover of the club by Dubai International Capital could be confirmed “within weeks,” despite counter-claims that American bidder George Gillett was about to start an examination of the club’s books.

LIVERPOOL chief executive Rick Parry has revealed the takeover of the club by investors from Dubai is almost complete and that a concrete announcement will be made “relatively soon”.

Liverpool chief executive Rick Parry has revealed the takeover of the club by investors from Dubai is almost complete and that a concrete announcement will be made “relatively soon”.

Liverpool manager Rafael Benitez admits the next month is an important one for his team but he will not be paying too much attention to the Barclays Premiership table.

Dubai International Capital have confirmed they are in exclusive talks for a takeover of Liverpool.

SHARES in Dragon Oil dived 10% yesterday after the oil exploration company said talks on a takeover deal had collapsed.

SHARES in Dragon Oil rocketed 14% yesterday after the exploration company confirmed it had received an approach to buy a major shareholding.