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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.
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Economists in Oman have predicted that the country’s Gross domestic product (GDP) is expected to grow by 2.5 per cent in 2019, adding to the festive cheer of National Day, thereby allowing for increa
Times of Oman
As part of its initiative (5X5), the Ajman Chamber of Commerce and Industry (ACCI) organised a symposium under the theme “what is next after Talbat.Com’s deal” in cooperation with the Kuwait Business
The Gulf Today
The Board of Directors of the UAE Banks Federation, UBF, has discussed the latest developments in the UAE’s banking sector as well as progress of key initiatives and activities during its recent meet
The Gulf Today