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Etisalat says Nigeria unit inks $1.2bn loan deal
UAE telecommunications giant Etisalat said its Nigeria unit had secured a $1.2bn medium term syndicated loan facility to refinance existing debt and expand its ...
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Ajman Ruler briefed on Education Ministrys strategies
WAM AJMAN, May 22nd, 2013-- H.H. Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman on Wednesday commended the top UAE leadership's support for education and emphasised that investment in this sector is highly important, saying that people are the soul of development in all areas. The Ruler made his remarks as he received Humaid bin Mohammed Obaid Al Qatami, ...
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Etisalat secures USD1.2bn loan to fund network expansion
USD1 .2 billion loan with a consortium of 13 Nigerian banks to refinance existing debt and expand its wireless network. In a statement to the Abu Dhabi Securities Exchange, Etisalat said its Nigerian business will use the medium term syndicated loan, which has both naira and US dollar tranches, to refinance its commercial medium term debt ...
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Recovering Dubai faces billions of maturing debt
A night view of the Gate building is seen at the Dubai International Financial Center, DIFC, in Dubai, United Arab Emirates, Sunday Aug. 7, 2011. Stocks tumbled across the Middle East on Sunday as most regional markets reopened following the historic downgrade of the United States’ credit rating. The region’s markets mostly operate Sunday to Thursday. That meant they were the first ...
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Emirates NBDs Tier 1 bond due today
Emirates NBD, Dubai's largest lender, plans to price its first core capital-boosting bond on Wednesday, arranging banks said, amid strong demand for the imminent deal. Price guidance for the perpetual bond, meaning it has no fixed maturity date but cannot be redeemed before six years at least, was set at 6 percent on Wednesday morning, after indications of the low 6 percent area released ...
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Doubling tax by GCC on tobacco will increase illicit trade Report
The dilemma facing GCC finance ministers as they deliberate over a 100 per cent increase in duty on tobacco products is underlined by a White Paper published today which spotlights the growth in illicit trade, beyond the control of police and customs authorities, as an inevitable consequence of a sharp overnight rise in the cost of cigarettes. Based on a round table discussion examining the ...
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Pakistan court rejects Musharraf bail in judges case
Pervez Musharraf over the detention of judges during his 1999-2008 rule, the state prosecutor said. The ruling came two days after a court granted bail to Musharraf over the murder of former prime ...
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UAEs Etisalat waiting to hear on Maroc Telecom bid
Etisalat has yet to hear back from Vivendi on its bid for the French firm's 53 percent stake in Maroc Telecom, the chief executive of the UAE's No.1 telecom operator said on ...
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Sporting legends in Dubai for a night of boxing at Dubai Sports City this Friday
WAM DUBAI: A host of sporting legends will lace up their boxing gloves this Friday night at Dubai Sports City (DSC)'s recently opened indoor Football Dome, it was announced today. Those legends, including former rugby union stars Shane Williams from Wales and All-Black Carlos Spencer, as well as ex-England One-Day International cricket captain Adam Hollioake, will take to the ring in the ...
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Burj Al Arab named best hotel in the world
The Burj Al Arab has been named the best hotel in the world at an awards ceremony in London. It also won the prize for best hotel in the Middle East at the Ultimate Luxury Travel Related Awards (ULTRAs) event. The awards are intended to recognise the best hotels, airlines, cruise lines and destinations. The best hotel in the world category is new this year, and the Burj Al Arab has won the ...
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DEWA takes part in ‘Why Do You Keep it’ Campaign
Dubai Electricity and Water Authority (DEWA), is participating in the 'Why Do You Keep it?' campaign, whose theme is 'Give your possessions new life,' organised by the Dubai Land Department during 18-27 May 2013, to collect donations for the needy and poor ...
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International Criminal Court judge praises UAE legal system
Howard Morrison, one of the judges of the International Criminal Court, has declared that the legal system of the UAE is in line with international laws that lead to the achievement of justice and the rule of law. He made the statement during his participation in a conference concerning criminal and international humanitarian law in the Arab Gulf region, entitled "Necessity or ...
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Riyadh Metro station designs revealed
The Arriyadh Development Authority (ADA) has selected the winning designs for Riyadh Metro’s three main stations. These iconic stations will transform Riyadh streets as they become the most visible elements of the city’s new world-class public transport system. By providing tranquil oases for travel, shopping and dining, these stations will place Riyadh Metro at the heart of city ...
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UAE’s TRA announces 700 MHz band plan for mobile broadband
The UAE Telecommunications Regulatory Authority (TRA) today announced its plans for 700 MHz mobile broadband, and the release of increased spectrum in the 800 MHz band. The TRA said it believes that allocating these bands to mobile broadband will best serve the UAE public interest, driving down costs and minimising interference along borders. By combining the 800 MHz band plan for Europe, ...
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Revillame announces retirement from showbiz
Controversial Filipino host Willie Revillame has announced that his popular noontime variety show, ‘Wowowillie’, will have its last airing by mid-October as he has no plans to renew his contract with TV5. "The last day of my contract is October 15," he said, stunning his fans in the studio and viewers all over the Philippines on Tuesday. "Maybe October 12 is the ...
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RTS Realtime Systems to open data center in Dubai
RTS Realtime Systems Group (RTS), a leading global trading solutions provider, today announced plans to open its newest data center in Dubai, the first Middle East site in its global data center network. Expected to go live in mid-July, the new hub in the RTS global trading network will offer ultra-low latency access to the Dubai Gold & Commodities Exchange (DGCX), one of the world’s ...
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Mediaquest acquires 30 in wedding website Whiteme
In line with the increased Internet penetration in the region and the burgeoning wedding industry, leading Middle East publisher Mediaquest has acquired a 30 percent stake in the acclaimed English and Arabic wedding website, Whiteme.net. Aimed at meeting and surpassing the needs of the modern Arab bride, Whiteme.net will mark the latest addition to Mediaquest’s portfolio of websites, ...
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Philippines arrest 52 nationals of China Taiwan
Philippines police have arrested 40 Chinese and 12 Taiwanese nationals, including 14 women, at a resort in Vigan, a city in the northern Philippine province of Ilocos Sur, who were found with several electronic and computer gadgets and accessories believed to be tools for cybercrime operations. The foreigners, who were taken to the immigration office in Laoag City, capital of Ilocos Norte, ...
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Dubais Emirates NBD launches $1bn bond
Emirates NBD launched a $1bn core capital-boosting bond on Wednesday, amid healthy demand, allowing the Dubai lender to tighten earlier price ...
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Nakheel awards Dragon Mart extension contract
The Dubai developer has awarded a contract for AED36.5m to ADC Energy Systems for the design and construction of the cooling plant at its Dragon Mart extension ...
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Emirates to increase flights to Colombo from 30th June
Emirates, one of the world's fastest growing airlines, will increase capacity on its services to Colombo from 30th June 2013, with the addition of three more flights per week, the airline announced ...
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Two drug dealers arrested
Police said the two suspects were arrested in a sting operation by police. The first suspect identified as S.R.H., 25 who is married and lives in Sharjah, was arrested while handing over 2,490 tablets to the second ...
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Turbulence drama injures 13 on Emirates flight
A number of passengers and crew on an Emirates Airline flight from Dubai to Jakarta sustained minor to serious injuries after the aircraft was caught in heavy ...
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Dubais D BarGrill serves a fine Irish fare
The Irish are famed for their hospitality and the D Bar&Grill confirms that they now export it, too. The lively atmosphere in McGettigan's Irish pub downstairs was shut out as we climbed the softly carpeted, wrought-iron and oak spiral staircase, complete with a beautifully twinkling chandelier, into the world of Irish fine dining. What a treat awaited us. No attention to detail has ...
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Michael Owen declares love for Dubai on recent trip
Dubai this week after a short trip to the United Arab Emirates (UAE). Earlier this week, the recently-retired footballer took to his Twitter account to reveal his break, saying: "Just boarded the plane. Dubai and back in 34 hours." He headed to Dubai to speak at an event last night (May 21st) to celebrate Arabian Business' Brits Power List, which honours Britons living in the ...
Dubai In-Depth
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Olympics may be Dubai's next goal
Dubai is famous for being ambitious, sometimes to its detriment, but mostly to its advantage. It was ambition that made it the city the way it is now. For some, the recent announcement of a possible Olympic bid may seem overly optimistic, but what are Dubai’s chances realistically?
Dubai does nothing half-heartedly. Fifteen years ago, Dubai was just another city in the Gulf, there was nothing particularly special about it, apart from the fact that, for western workers, it was an attractive location because of the lack of income tax, but this it had in common with many other GCC cities. Read more
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