Union National Bank PJSC , whose shareholders include the governments of Abu Dhabi and Dubai, said new retail loan rules that came into effect May 1 should have been staggered to reduce their adverse impact.
Aabar Investments PJSC, a unit of Abu Dhabi’s International Petroleum Investment Co., signed a $2.5 billion loan with 12 banks to refinance a deal maturing next month, according to two people with knowledge of the matter.
Al Jaber Group, a family-owned industrial group in Abu Dhabi, reached a deal with creditors including HSBC Holdings Plc to restructure about $4 billion of debt, according to two people familiar with the matter.
Dubai’s DFM General Index advanced 1.9 percent, the most since July 3, to 1,379.95 at the 2 p.m. close in the emirate. The measure rose 1 percent this week. Abu Dhabi’s index measure climbed 0.7 percent and Oman’s MSM 30 Index added 0.3 percent.