June 27, 2013
The Lebanese-Canadian Bank has reached a $102 million settlement with the U.S. government over allegations it took part in a scheme to launder drug money and other funds for terrorists.
Thirteen companies including Abu Dhabi-based Etisalat and Turkey's Turkcell have expressed interest in buying Dubai Holding's 35 percent stake in Tunisie Telecom, a government official said on Wednesday.
Fitch Ratings has affirmed Oman-based Bank Sohar's Long-term Issuer Default Rating (IDR) at 'BBB+' with a Stable Outlook.
Loss-making telecom operator Zain Saudi has gained more time - until July 31 - to repay a $2.4 billion Islamic loan due on Wednesday, the company said in a bourse statement.
The sultanate will have at least one low-cost carrier (LCC) by the first half of 2014 with the possibility of more licences being awarded, according to Salim Nasser Said al Aufi, chief executive officer of the Public Authority for Civil Aviation.
A Dh75 million Traffic Control System (TCS) has been installed in Mohammad Bin Zayed City in the capital, the Department of Transport (DoT) announced today.
UAE shares failed to hold on despite a strong rebound on Tuesday. The world stocks and bonds gained for the second day on Wednesday, lifted by healthy US data.
Oman is the fastest growing market for smartphones in the GCC region with 65 per cent users switching to these devices, according to Ashrf Fawakherji, vice-president, Middle East, for Huawei.
June 26, 2013
The Abu Dhabi Fund for Development has signed a memorandum of understanding with Morocco for a $1.25 billion grant to be used for the provision of key services.
China State Construction Engineering Corporation Middle East (CSCECME) on Tuesday announced that it will invest in Skai Holdings’ Dh3.67 billion ($1 billion) Viceroy Dubai Palm Jumeirah project.
Cagamas Berhad, the National Mortgage Corporation, announced the issuance of MYR 500 million three-month Islamic Commercial Papers (ICPs), while the proceeds from the issuance will be used to fund the purchase of Islamic financing from the financial system.
Abu Dhabi's Shuweihat 2 (S2) power plant has mandated six banks to help arrange a potential bond issue, lead arrangers said on Tuesday.
Bahrain's state spending is expected to jump 11 percent this year, by more than originally planned, after its parliament approved 174.2 million dinars ($462 million) in additional expenditure, official data showed.
Dubai's state-owned property firm Nakheel, is in talks with banks to refinance loans worth 8 billion dirhams ($2.2 billion) that are due in 2015, the chairman of the company said on Wednesday.
The cost of insuring Egypt's debt against default has risen to record highs in the five-year credit default swap market, according to Markit, on concerns about political unrest.