Abu Dhabi Islamic Bank News
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Amlak Finance PJSC, the Islamic mortgage provider restructuring more than $2 billion of loans, proposed to extend the maturity of the debt by 15 years and reduce the amount by 30 percent, two people familiar with the matter said.
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GEMS Education Ltd., the Dubai- based privately owned provider of school education, obtained a 2 billion-dirham ($545 million) loan to refinance investments and provide funds for Middle East and North Africa expansion.
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The developer of the One Hyde Park luxury-home complex in London’s Knightsbridge district is seeking to sell a store on the ground floor for at least 21 million pounds ($33 million).
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Sudan’s central bank said it approved a request by Abu Dhabi Islamic Bank to open a branch in the African country.
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Emirates, the world’s biggest airline by international traffic, will start meetings with investors tomorrow for a possible sale of Islamic bonds, according to three people familiar with the matter.
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Dubai’s DFM General Index fell 0.3 percent to 1,351.09 at the 2 p.m. close in the emirate, the lowest since June 2004. The gauge has slumped 17 percent this year. Abu Dhabi’s ADX General Index declined 0.4 percent.
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Abu Dhabi Islamic Bank PJSC , the United Arab Emirates’ second-biggest bank complying with Islamic banking rules, said it has updated its Islamic bond or sukuk program and has no immediate plans to sell bonds.
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Dubai’s DFM General Index fell 0.3 percent to 1,347.07 at the 2 p.m. close in the emirate, extending a seven-year low. The gauge has slumped 17 percent this year. Abu Dhabi’s ADX General Index declined 0.4 percent.
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The following stocks may rise or fall in Gulf Arab markets. Stock symbols are in parentheses and prices are from the last close.
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Abu Dhabi Islamic Bank PJSC, the United Arab Emirates’ second-biggest lender complying with Shariah, hired three banks to help sell bonds, according to two bankers familiar with the plan.
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