Al Bayan

Dubai Rises in Longest Set of Gains Since 2011 on Recovery Bets

Dubai’s benchmark stock index rose for a ninth day in its longest winning streak in more than two years on investor optimism the emirate is recovering from a property crash and restructuring debt. Abu Dhabi’s gauge gained.

Etisalat of U.A.E. to Enter Sudan's Mobile-Phone Market, Al Bayan Reports

Emirates Telecommunications Corp, the United Arab Emirates’ biggest phone company, plans to soon enter Sudan’s mobile-phone market, Al Bayan reported, citing Jamal al- Jarwan , chief executive officer for international investment.

Amlak’s Debt Drops $1.1 Bln After Sales, Accords, Al Bayan Says

Amlak Finance PJSC’s debt was reduced by 4 billion dirhams ($1.1 billion) after the lender sold land and reached agreements with some creditors, Al Bayan reported, citing Sultan Bin Saeed al-Mansouri, the United Arab Emirates’ economy minister.

Dubai World to Complete Debt Agreement in a Several Weeks, Al Bayan Says

The final signing of Dubai World’s restructuring agreement with creditors will take place in several weeks, Al Bayan reported, citing an unidentified spokesman for the company.

Sorouh, Tamouh Plan Al Reem Handovers in Mid-January, Bayan Says

Sorouh Real Estate Co. and Tamouh, property developers building on Abu Dhabi’s Al Reem Island, will start handing keys to homebuyers in the middle of this month, Al Bayan reported, citing unidentified buyers.

Madayen Starts Fund to Build 35 Islamic Hotels, Al Bayan Says

Madayen Holding started a fund to invest in building 35 Islamic hotels in the next three years, Al Bayan reported, citing chairman Omer Al Thahiri.

Dubai World Unit Nakheel Restarts Work on Delayed Projects, Al Bayan Says

Nakheel PJSC, the Dubai World-owned property company seeking to restructure $10.5 billion of debt, restarted work on projects that have been put on hold, Al Bayan reported, citing people it did not identify.

Nakheel Denies Offering Early Repayment for Discount, Bayan Says

Nakheel did not offer contractors expedited repayment if they accept a reduction on the debt, Al Bayan reported, citing an unidentified Nakheel spokesman.

U.A.E. Central Bank Is Studying Mortgage Law, Al Bayan Reports

The United Arab Emirates central bank is considering a mortgage law that would stipulate real- estate records, guarantees and a dispute resolution mechanism, Al Bayan reported, citing Central Bank governor Sultan Bin Nasser Al-Suwaidi.

Adnoc Will Increase Gas Supply 75% by 2015, Al Bayan Reports

Abu Dhabi National Oil Co., or Adnoc, will raise gas supply to customers 75 percent by early 2015, when the Habshan-Maqta-Taweelah pipeline is completed, Al Bayan reported, citing Mohammed Sahoo, the chief executive officer of Abu Dhabi Gas Industries Co., an Adnoc unit.

United Arab Emirates

Saudi Arabia

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