For example, in 2009, QVT led a group of bondholders to explore their options regarding the delayed debt payments of Nakheel, a real estate company owned by Dubai World. In 2007, QVT joined six other hedge funds to urge Refco Inc. to increase its payments …
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UAE’s credit growth turns positive, but credit demand remains weak
Dubai: The UAE’s total banking sector credit returned to positive monthly growth in July, reaching 0.2 per cent month on month after a contraction of 0.5 per cent in the previous month, according to UAE Central Bank data. Modest monthly improvement …
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Dubai Municipality responds to Dettol soap rumours
Dubai Municipality has said while quashing a rumour about the safety of Dettol soap. The Consumer Products Safety Section called upon consumers to be aware about the information provided in the news published on one of the channels about the harm caused by …
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Dubai Police reveal cause of Torch Tower fire
Dubai: Police investigations reveal that the cause of the fire … Colonel Rashid Khalifa Bu Flasa, Director of Fire and Rescue Department, told Gulf News that community awareness is critical to reducing the prevalence of fires. “After investigations …
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Abu Dhabi property developers Eshraq and Reem in ‘advanced talks’ for merger
Abu Dhabi real estate companies Eshraq Properties and Reem Investments confirmed that they are currently holding “discussions at an advanced stage” for a potential merger. If completed, the merger will create the second largest listed real estate …
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Abu Dhabi property firms plan merger as market struggles
DUBAI (Reuters) – Two major Abu Dhabi real estate developers, Eshraq Properties and Reem Investments, said on Wednesday they aimed to merge as an economic slowdown in the emirate puts the housing market under pressure. The companies said discussions were …
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UAE’s largest banks to maintain ‘solid’ profits in 2018
The four largest banks in the UAE will see robust profits in the next 12 to 18 months despite pressure on fees and commision income, a Moody’s report states. Moody’s Investors Service said First Abu Dhabi Bank (FAB), Emirates NBD, Abu Dhabi Commercial …
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Lootah Holding signs JV with Batta Technologies
Lootah Holding has signed a joint venture with Batta Technologies to establish a new entity, Lootah Batta Water and Environment. The joint venture will result in providing sustainable solutions and advanced products that will reinforce the UAE’s position …
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UAE wireless consumers blasé about online security: report
Nearly all UAE WiFi users admit to using WiFi in a way that could put their personal and private information at risk. According to the 2017 Norton WiFi Risk Report, 95% of UAE consumers indicate they have acted in an unsafe matter when connecting to WiFi …
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BAML, FAB to get roles in IPO of Emaar’s UAE real estate unit: sources
DUBAI (Reuters) – Bank of America Merrill Lynch (BAC.N … Emaar is already working with Goldman Sachs on the IPO but other banks are expected to be appointed as coordinators and bookrunners. The sources close to the matter said it was unclear what …
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Russia, UAE tell North Korea: Stop your ‘provocations’
He instead focused in part on North Korea. Emirati Foreign Minister Abdullah bin Zayed Al Nahyan, right, listens to Russian Foreign Minister Sergey Lavrov, left, during a news conference in Abu Dhabi, United Arab Emirates, Tuesday, Aug. 29, 2017.
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‘They will want revenge’: Underworld figure Michael Ibrahim ‘warned to stay in Dubai or face being EXECUTED when he returns to Australia’
Sydney nightclub figure John Ibrahim’s younger brother Michael has been warned he will be killed if he is extradited from Dubai to Australia. The 37-year-old has been behind bars since he was arrested on August 8 with his brother Fadi, 43, for their …
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Dubai International Premieres Free Movie Streaming Experience
DUBAI, UAE, Aug. 29, 2017 /CNW/ – The customer experience at Dubai International (DXB) has taken another huge step forwards with passengers now able to enjoy free movies and TV shows before their flights, thanks to a partnership between Dubai Airports and …
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Dubai’s property ladder
The lure of Dubai property has always been too good to resist for investors from the Sub-Continent. No surprise then that Indians have yet again topped the list of non-Arab investors pumping in money into Dubai real estate. According to statistics from the …
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UAE consumers risking personal data for connectivity
Dubai: Consumers in the UAE are unable to resist a strong and free WiFi network, and their online actions may be placing their personal information at risk, according to Norton by Symantec’s 2017 Norton WiFi Risk Report. But the siren song of free data …
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Dubai says smart meters to be fitted to all taxis by June 2018
Dubai’s transport authority has annnounced the start of a smart meter system for taxis in Dubai at the cost of AED68.8 million ($18.7 million). The Roads & Transport Authority (RTA) said in a statement that all taxicabs, comprising 10,550 vehicles, will be …
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Abu Dhabi street lights to be replaced by LEDs
energy-efficient LED lights will replace more than 350,000 street lighting fixtures across the emirate of Abu Dhabi, Gulf News has learnt. These include the retrofitting of nearly 43,000 street lamps in Abu Dhabi island, and a tender to operate and install …
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