Monday 28 July 2014
 
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Nakheel H1 profit jumps 54pc on new projects

Dubai property developer Nakheel, which was a major victim of the emirate's financial crisis five years ago but is now recovering strongly, reported a 54 per cent jump in profit for the first half of this year. The government-

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Dubai's finances stronger but still vulnerable: IMF

Dubai's ability to finance its debts has improved because of stronger economic growth and more conservative spending, but the emirate would still be vulnerable in a major dowturn of the global economy, the International Monetary Fund said.

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Saudi Electricity to receive $719m in debt

Saudi Electricity Company (SEC) will be paid 2.7 billion riyals ($719.9 million) in debt owed by high profile customers, it said in a statement on Sunday. The debt was previously recorded as provisions against receivables outstand

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Amlak offers new restructuring deal for $2.7 bn debt

Dubai mortgage lender Amlak has made a new proposal to creditors to restructure and extend repayments of about $2.7 billion of debt, aiming to end protracted talks over the last major hangover from the emirate's property market crash in 2008

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Nakheel plans to repay $1.5bn debt early

Dubai property developer Nakheel will repay all its outstanding debt to banks by August this year, four years ahead of the schedule mandated by its restructuring plan, the state-run company's chairman said on Wednesday. The re

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High oil prices big boost for Bahrain's economy

High oil prices fuelled by the escalating crisis in Iraq could help drive down Bahrain's national debt.   Crude oil prices have been on the increase in recent weeks, with concerns over disruption in supply dr

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Abu Dhabi's Al Jaber Group signs debt restructuring

Abu Dhabi-based conglomerate Al Jaber Group has signed a debt restructuring deal with its bank creditors, the conglomerate said on Monday, addressing one of the UAE's last big debt hangovers from the global financial crisis. A

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Abu Dhabi's Al Jaber Group signs debt restructuring

Abu Dhabi-based conglomerate Al Jaber Group has signed a debt restructuring deal with its bank creditors, the conglomerate said on Monday, addressing one of the UAE's last big debt hangovers from the global financial crisis. A

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Dubai to repay 2015 debt on time

Dubai will not have any issues in repaying all its debt maturing in 2015, and more state-linked firms are likely to repay obligations ahead of schedule, a top government official said on Tuesday. "We will have no issues in re

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Etihad open to Alitalia talks, but ‘firm on demands’

Etihad Airways, the national airline of the UAE, has signalled that it is ready to continue talks on a potential investment in Italy's troubled Alitalia but it refuses to budge on tough conditions on debt restructuring and job cuts, a source

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