Dubai World presents restructuring plan to banks Khaleej Times Dubai World seeking to renegotiate the terms on $23.5 billion of debt, began presenting its restructuring plan to about 70 banks today. | Dubai World is making presentations at the Atlantis hotel in Dubai after a group of its seven biggest lenders said on May 20 that they agreed to its broad terms. ...
Lamprell bags $317m Abu Dhabi rigs deal Money Week | Lamprell, the oil engineering services firm, has won a $317m contract to supply National Drilling Company (NDC) in Abu Dhabi with two new jackup rigs. | Each of the mobile offshore drilling platforms is worth $158.5m, and additional optional equipm...
NBAD half-year profit up on higher interest income Gulf News | Abu Dhabi: National Bank of Abu Dhabi has reported net profits of Dh2.03 billion for the first half of 2010 — up 21.1 per cent on the Dh1.67 billion in the same period last year. | The bank, the UAE's largest bank by market capitalisation, po...
Abu Dhabi hotel guests increase Gulf News | Dubai: The average length of stay during the first half of the year in Abu Dhabi hotels dropped slightly from 2.75 nights to 2.63 nights, contributing to a drop in occupancy rates by about 18 per cent. | Abu Dhabi Tourism Authority (ADTA) yesterday...
Sounders campaign for interest in CONCACAF Champions League The Examiner | The Sounders face El Salvador's Isidro Metapan Wednesday night at Qwest Field. (David Falk) | Seattle Sounders FC have sold out their entire Major League Soccer season at Qwest Field. They have drawn over 40,000 fans for each of their international...
Zakat Fund collects Dh15 million Khaleej Times ABU DHABI - Zakat revenue collected by the Zakat Fund (ZF), an independent federal authority responsible for reception, development and distribution of Zakat money, rose 100 per cent in the first half of the current year to Dh15.1 million as compared...
Capital to host ports and trade summit Gulf News | Abu Dhabi: Abu Dhabi will host the industry's first World Ports and Trade Summit in 2011, officials announced yesterday. | Organised by the Abu Dhabi Ports Company (ADPC), the event will be held from March 28-30. | "The summit will deliver a v...
Dubai risk below global average Gulf News | Dubai: Dubai's sovereign risk is still a concern, but the emirate is no worse off than other major economies around the world, industry analysts said. | A report released this month by Euromonitor International, a global market research company, sh...
Tracking returns amid double-dip debate Gulf News | Dubai: The "third depression", courtesy Paul Krugman; "double-dip recession", courtesy Nouriel Roubini; and now "unusual uncertainty", courtesy Ben Bernanke. The outlook for the global economy has never been more uncer...
Home insurance remains unpopular Gulf News | An astounding 95 per cent of home owners in the UAE do not have insurance that covers their property and belongings, so if the unforeseen happens, they may be left with the cost of replacing any loss or damage out of their own pocket. | Industry in...
Arab stocks lacklustre on world economy concerns, profit taking m&c | Amman - Arab stock markets ended the week mixed as investors continued to come under psychological pressure from global markets and indecisive indicators of world recovery, financial analysts said Friday. | However, they expected Middle East market...
Debt-Laden Dubai World Tries to Win Over Creditors The New York Times | Filed at 11:19 a.m. ET | DUBAI, United Arab Emirates (AP) -- Dubai World formally presented its $23.5 billion restructuring plan to scores of creditor banks Thursday as it seeks closure to its months-old debt crisis, but made clear that wrangling o...
Vodafone Egypt nears market leader by subscribers The Times Of India CAIRO: The Egyptian unit of Vodafone may have overtaken Mobinil last quarter as the country's largest provider of mobile phone subscriptions, data shows. | Egypt's three mobile operators, the third is a subsidiary of Abu Dhabi-based Etisalat -- are locked in a pricing spiral as they seek to grab market share before saturation. | Total subscriptions...
