UAE. Dubai state companies are securing bank financing as the latest tumult in global markets fails to derail the emirate's recovery from the 2009 debt crisis.
Dubai Holding LLC, one of the three main state-owned holding companies, reached an accord with lenders to extend a US$1.16 billion loan to December 2016, according to a company official. Port & Free Zone World FZE, an intermediate holding company for port operator DP World Ltd. (DPW), is raising US$850 million to refinance debt, three bankers familiar with the plan said. Investment Corporation of Dubai said on August 8 it will rep
UAE. The UAE in particular continued the trend of performing markedly better than other countries in the Middle East, with the survey indicating an increase in confidence, government spending and employment.
SAUDI ARABIA. Deloitte collaborated with the University of Business and Technology (UBT) in Saudi Arabia, to bring professional and technical skills to university students and support their employment prospects, personal growth and leadership development.
UAE. While GCC market conditions are ripe for the development of a thriving global fintech industry, efficiency through innovation will only be successful if the regional financial sector makes a greater commitment to collaboration, according to Saxo Markets.
UAE. Number of active hospitality projects reached 1,153 as 62 projects with a combined value of US$2.5 billion were added to the list in the first quarter of 2017, according to BNC Network; GCC hospitality sector constitutes 7% of all active projects in the GCC.