Friday 25 July 2014
 
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Etisalat's Zantel defaults on $96m loan

An unidentified bank has demanded Zanzibar Telecom repay $96 million owed to it after the Tanzanian mobile operator defaulted on the loan, a bond prospectus for parent firm Etisalat said.   Zanzibar Telecom, whic

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Ooredoo signs $1bn loan deal to repay debt

Qatar's Ooredoo has signed a $1 billion five-year revolving credit facility, the telecommunications operator said in a statement on Thursday.   Ooredoo will use the new facility to repay a $750 million loan d

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Nakheel initiates $639m bank debt repayment

Dubai developer Nakheel said it has initiated early repayment of Dh2.35 billion ($639.8 million) of bank debts 18 months ahead of maturity in September 2015. The state-owned company had accumulated Dh6.8 billion of bank debts whil

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Egypt to start paying foreign oil firms by year end

Egypt will begin repaying the more than $6 billion it owes to foreign oil companies within two months, the chairman of state-run Egyptian General Petroleum Corporation (EGPC) said on Monday. "By hook or crook we will get them

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Dubai repays $909m bonds on maturity

  The government of Dubai has fully repaid Dh3.34 billion ($909 million) of bonds which were due on April 23, the emirate's media office said in a statement on Sunday.   The repayment was part o

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Banks to repay ECB $16.3bn

Banks will next week repay the European Central Bank (ECB) 12.495 billion euros ($16.34 billion) of two three-year loans they took a year ago, a drop in the payback rate that shows they prefer to hold surplus cash in case financial markets clog

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ENBD to start repaying govt support cash

Emirates NBD, Dubai's biggest bank, said it will start repaying part of the Dh12.6 billion it received from the government in 2008, after reporting forecast-beating quarterly results. The UAE's Ministry of Finance placed D

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Dana Gas, creditors to thrash out sukuk deal

Dana Gas could become the first company in the UAE to restructure a bond as concerns rise that it will not have enough cash to repay a $1 billion convertible sukuk (Islamic bond) at maturity in October. The Abu Dhabi-listed firm said

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Dar Al Arkan to repay $987m debt

Saudi Arabia's biggest property developer Dar Al Arkan plans to repay about 3.7 billion riyals ($986.6 million) of debt this year, its chief financial officer said. 'Beyond the SR2.5 billion cash in hand on December 31, we plan to

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Aldar says repaid $1.2bn bond on time

Indebted Aldar Properties repaid a $1.18 billion convertible Islamic bond (sukuk) due on November 10 last year on time, the company said in a statement to the bourse, dated December 28 but released on Wednesday. Aldar, which last week rece

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