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DIC remains committed to EU

Dubai International Capital (DIC) yesterday rejected claims it could attempt to sell off its European assets, after the sovereign wealth fund promised to retain its five majority-owned companies in the region for at least another two years. DIC, which is heavily indebted, told senior managers of its portfolio companies that it had already spent $300m (£200m) to prop up the struggling investments, which include UK hotel group Travelodge. The group also said that it was ready to insert more money into the remaining companies in the portfolio.