The Government of Dubai moved to take direct control of Dubai World yesterday, saying it will ask for a delay in repaying its debts as it seeks to reorganise one of the emirate’s largest and most important conglomerates.

The Government said its Dubai Financial Support Fund, which is in charge of disbursing the US$10bn (Dh36.73bn) in federal rescue funds to Dubai Government-controlled entities, had appointed its own administrator to oversee the restructuring.

The National