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Dubai World Gets Approval To Restructure $14.6bn Debt Outside Court

The action allows lawyers for the conglomerate to gather the signatures of creditors in support of the deal outside the Dubai World Tribunal.

Gas Explosion In Saadiyat Injures One Resident

The cause of the explosion is yet to be confirmed, according to the building manager.

Dubai’s Amlak To Seek Shareholder Backing To Lift Six-Year Trading Halt

Trading in Amlak was halted in November 2008 as credit markets dried up and the emirate’s real estate prices began a 50 per cent tumble from their peak.

Emirates Airline Sets Final Guidance For UK-Guaranteed Sukuk

The deal has garnered more than $3 billion in orders, a document showed.

Emirates Announces Daily Service To Orlando As Subsidy Debate Rages

The non-stop flights are scheduled to begin from September 1, 2015.

Aabar Investment Sets Exchange Price Of UniCredit Shares At 8.8642 Euros

The company said earlier that it had successfully placed 2 billion euros ($2.18 billion) of unsecured exchangeable bonds over shares of UniCredit.

UAE Central Bank Expands Islamic Banks’ Access To Its Funds

Islamic banks will be allowed to use sharia-compliant securities other than central bank-issued Islamic certificates of deposit to borrow overnight from the central bank.

Al Etihad Credit Bureau Begins Issuing Company Reports

Reports will include details of credit facilities that are being used, total amount of credit taken and a firm’s track record of repayment.

Aabar To Raise Up To 2bn Euros Via UniCredit Exchangeable Bonds

Aabar said it would sell two tranches of bonds worth 750 million euros each, with an option to increase that amount by a further 250 million per tranche.

UAE’s Shah Gas Project Seen Achieving Full Capacity In Q2

Al Hosn Gas is the Shah gas development joint venture by the Abu Dhabi National Oil Company (Adnoc) and U.S.-based Occidental Petroleum.

Ras Al-Khaimah Launches $1bn 10-yr Sukuk -Leads

The emirate, which is issuing sukuk with an ijara structure, has garnered orders worth about $2.5 billion, an earlier document showed.

National Bank Of Fujairah Issues Dhs500m Tier 1 Capital

The capital-enhancing issue is a perpetual issue structured to comply Basel III norms, a statement said.

Dubai’s Non Oil Foreign Trade Reaches Dhs1.33trn In 2014

China was Dubai’s top trading partner last year, followed by India and the US, official figures show.

Dubai Builder Arabtec Wins $283m Contract From Saudi Aramco

Arabtec said it would complete the project in Al Dhahran within 28 months.

Secured Creditors Of Espirito Santo Dubai Unit To Get 82.7% Payout

Unsecured creditors of the Dubai arm of the Espirito Santo empire will get none of the $14 million they are owed.

Aldar Sells 281 Land Plots In Abu Dhabi’s Khalifa City

The company generated around Dhs600 million in revenues from the sale of land plots.

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UAE’s Ras Al-Khaimah May Print 10-Year Sukuk As Early As Tuesday

Ras Al-Khaimah is planning a benchmark size offer, traditionally understood to mean upwards of $500 million.

Emirates Airline Sets Guidance For $913m UK-Guaranteed Sukuk

The initial guidance for the senior unsecured ten-year sukuk issue is at around 100 basis points over midswaps, a document showed.

Dubai-Based Souq.com Plans 3-Day Mega Sale, Expects 7m Visitors

The sale, set to run from March 29-31, will have 2,500 product deals on offer.

Abu Dhabi Airport Passenger Traffic Up 21.5% In February

The airport saw nearly 1.7 million visitors in the month of February, authorities said.

Dubai’s Arabtec Seeks To Sell Four Saudi Units, Eyes Kingdom Expansion

Arabtec’s board has approved disposing of Arabtec Saudi Arabia, Arabtec Construction Machinery, Saudi Austrian Arabian Ready Mix Co and EFECO Saudi.

Dubai’s DP World Signs Deal To Develop Ports, Logistics Industry In Maldives

The Dubai-based ports operator said it will help Maldives develop infrastructure, logistics and transport links.

UAE’s Ajman Bank Agrees $155m Syndicated Islamic Loan

The deal consisted of a hybrid murabaha and wakala structure with a two-year lifespan.

Dubai Holding Unit’s 2014 Profit Rises 42%, Still Eyes Telco Sales

The company made a net profit in 2014 of Dhs4.68 billion last year, up from Dhs3.30 billion in 2013.

Nakheel Launches Tender For New Mall At Jumeirah Village Triangle

The tender covers infrastructure services relocation, shoring works and excavation at Al Khail Avenue.

Stock News: Gulf Markets Mixed; Arabtec Dampens Dubai

Arabtec posted an unexpected Q4 loss of $25.7 million, blaming non-recurring general and administrative expenses.

UAE Wins Hosting Rights For FIFA Club World Cup In 2017, 2018

The tournament is held in mid-December every year and was earlier hosted by the UAE in 2009 and 2010.

Dubai’s Arabtec Swings To Q4 Loss, Blames High Expenses

Non-recurring general and administrative expenses jumped 75 per cent to Dhs749.9 million last year.

US, UAE Move Forward On Space Cooperation

The two countries will focus on issues such as space policy and regulatory developments, space security and space science cooperation.

Sri Lanka Says Rajapaksa Officials Stashed Over $2bn In Dubai

The funds represented about of fifth of the total amount of so-called ‘black money’ that the authorities suspect was illicitly stashed abroad.