Saturday 30 August 2014
 
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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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Bahrain plans to cut public debt

Bahrain has planned to slash public debt and boost state revenues to bolster development. The government's financial policies took centre stage as the Cabinet convened for its weekly meeting yesterday (August 24). Chairing the

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Nakheel to repay entire $2.15bn debt 4 years early

Dubai property developer Nakheel is repaying all of its Dh7.9 billion ($2.15 billion) of bank debt as much as four years ahead of schedule, the company said in a statement on Wednesday. The final instalment of the debt was to have

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UAE tops non-financial sector issuance in GCC

The UAE topped the large increase in issuance by the GCC’s non-financial sector, which accounted for $8 billion, even  the debt markets saw a rebound in growth in the second quarter of the year. The exceptional non-fina

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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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Argentina fails to reach debt agreement

Argentina has defaulted on its debt after talks with holdout creditors broke down on Wednesday. As the clock ticked toward a midnight (0400 GMT) deadline, Economy Minister Axel Kicillof stuck firmly to the government line, repeate

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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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