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Dubai Holding’s Emirates International Telecommunications unit is in talks with banks to raise about Dh2.1 billion ($572 million) to refinance an existing loan, according to two people familiar with the matter.
The company, which owns stakes in Axiom Telecom and Du, is speaking to lenders including Emirates NBD, Noor Bank and Commercial Bank International about a club loan, said the people, asking not to be identified because the information is private. The facility would be backed by EIT’s telecom stakes, the people said.
The company has loans worth Dh2.1 billion maturing in 2020, according to data compiled by Bloomberg. EIT declined to comment. Dubai Holding agreed in December to sell EIT’s 35 per cent stake of Tunisie Telecom to buyout firm Abraaj Group.
Start-ups from across the Gulf region are leading the charge on school innovation with a full showcase of a wide range of products and solutions at GESS Dubai exhibition and conference scheduled on F
The food and beverages sector operating out of Jebel Ali Free Zone (Jafza), a subsidiary of global trade enabler DP World, grew by 12 per cent in 2017.
The number of companies in the secto
Saudi women do not need the permission of a male guardian to start their own business, according to the Ministry of Commerce and Investment. “No need for a guardian’s permission. Saudi women are free
The UK capital is still seeing strong interest from Middle Eastern property buyers, even as politicians in Westminster wrangle over Brexit. The lure of safe-haven London remains high, and is expected
Qatar, Kuwait, Oman and Bahrain need more time to introduce VAT because technically and politically they are not ready for the 5 per cent levy, which was implemented in Saudi Arabia and the UAE in Ja