The new deal, which was arranged by a group of eight local and international banks, refinances an existing $2 billion facility.
Dubai Group and its lenders have been locked in a complex debt restructuring.
Regional banks have been well capitalised since the 2009 crisis and now driving the economic recovery.
The UAE and Qatar are hoping to receive an upgrade to emerging market status during a review of the MSCI indexes on Wednesday.
The Dhs1 billion tower, located in Dubai Marina, is developed by Saudi’s Cayan Group.
The UAE regulator issued a circular last month, directing banks to halt loan transfers for three months.
The move will increase the dominance of local banks over foreign banks in the panel that determines Eibor.
One of the projects, a residential development in Business Bay, will be worth about Dhs500 million.
Sharjah low-cost carrier to take on flydubai as it seeks to capitalise on Armenia’s growing popularity.
Two refiners in India have asked for additional cargoes to make up for a loss of supplies from Iran, say sources.
Healthcare businesses in the Gulf region are expected to boom in coming years as rising wealth couples with an increase in so-called lifestyle diseases.
The reform allows a shareholder who does not want to or cannot subscribe to a share issue to sell the rights.
Workers have queued outside government offices and some consulates for days on end over recent weeks in daytime temperatures topping 40 degrees centigrade.
The author behind best-selling books The Tipping Point and Outliers speaks exclusively to Gulf Business.
Gulf Business reveals the trials of Qatar Airways CEO, Akbar Al Baker.
Islamic banks Al Khair and Khaleeji have set up a committee to study the feasibility of a merger.
The British Council has released a new English language assessment tool called Aptis to assist multinational firms in the UAE.
The contract to build Saraya Aqaba was awarded to a consortium of Arabtec, Drake and Scull and Consolidated Contractors Co.
The contracts signed are five-year extensions to existing service contracts.
The new project, named Dubai Creek Harbor, will include a business district, shopping, sporting and entertainment facilities.
The ‘Dubai Design District’, located adjacent to the Business Bay area, will aim to become a full service commercial hub for the industry.
Prince Alwaleed has attacked the U.S. magazine’s ranking of world billionaires as flawed and biased against Middle Eastern businesses.
Emaar Properties and Meraas Holding plan construction of an 11 million square metres project.
Qatar Diar, the real estate arm of the Gulf state’s sovereign wealth fund, owns 45 per cent of Barwa.
A Jubail plant would have processing capacity of 1.5 million tonnes a year and the other, in Rabigh, one million tonnes a year.
The bank had said in March it would issue local debt as part of an adjustment of monetary policy.
The project will include four rail lines and will link stadiums for the 2022 World Cup tournament.
The Kingdom announced in March that it was planning to ban VoIP services such as Skype and Viber.
The changes are expected to be implemented in six to nine months.