Monday 22 December 2014
 
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Egypt to repay debts to foreign oil firms within 6 months

Egypt plans to repay all of its $4.9 billion debt to foreign oil and gas companies within six months, the oil ministry said on Thursday, a move it hopes will prompt them to boost exploration and ease the worst energy crunch in decades.

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Dubai World in deal to extend $10bn debt repayment

Dubai World, one of the emirate's big state-owned conglomerates, has signed a deal with its main creditors to extend the repayment of $10.3 billion debt, said a report. The group, which owns the third-largest ports operator, a

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Dubai World in deal to extend $10bn debt repayment

Dubai World, one of the emirate's big state-owned conglomerates, has signed a deal with its main creditors to extend the repayment of $10.3 billion debt, said a report. The group, which owns the third-largest ports operator, a

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GFH repays $25m to debt holders

Bahrain-based Islamic investment bank, Gulf Finance House (GFH), has repaid $25 million to debt holders marking total debt principal payments of $33 million so far this year. In a statement to the Bahrain Bourse, the bank said this repr

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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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