|
|
|
|
|
26nd Safarul Muzaffer 1436 | Sunday, Dec 21, 2014
Islamic World

Dubai telecom firm Du bags $100-mn loan

Sunday, 16 December 2012
Comments(0)
Dubai, December 16:

Dubai telecom operator Du has secured a $100-million loan from the Singapore-based DBS bank in order to upgrade its network performance.

The Emirates Integrated Telecommunications Company, better known as Du, has signed the agreement with DBS bank, Xinhua reported Sunday.

Du's chief executive Osman Sultan said the money will be used to buy equipment from Huawei Technologies, a Chinese telecom company based in Shenzhen.

Du, founded in February 2007, is the second telecom operator of the United Arab Emirates and shares the UAE market with Abu Dhabi-based leader Etisalat in a duopoly.

In the third quarter, Du posted a 34-percent year-on-year rise in net profits amounting to 326.9 million dirhams (about $89 million).

--IANS--

Latest News

My appetite for chess has recovered: Vishwanathan Anand

Buoyed by winning the London Chess Classic, five-time world chess champion Vishwanathan Anand here o ...

Cold wave conditions continue in parts of AP, Telangana

Several parts of Telangana and Andhra Pradesh continued to reel under cold wave conditions today. ...

Oppn questions Modi over silence on Bhagwat's remarks

RSS Chief Mohan Bhagwat's remarks daring the opposition to support a law against conversion, today t ...

Related News

Sharif vows to target all terror groups

Pakistan Prime Minister Nawaz Sharif today vowed to target all terror groups irrespective of their agenda and affiliatio ...

Kurds free large part of Iraq's Sinjar town from IS

Kurdish forces took over most of the town of Sinjar in the Nineveh province in northern Iraq Sunday, ...

Iraqi army retake military airbase outside...

The Iraqi army retook control of a military airbase outside the town of Tal Afar in the province of Nineveh in northern Iraq, as they contin ...

Post new comment

To combat spam, please enter the code in the image.

Rs. 26710 (Per 10g)

Opinion Poll
Do you think Lakhvi's re-arrest is a drama by Pak to keep India's mouth shut?
YesNoCan't say

Matrimony | Photos | Videos | Search | Polls | Archives | Advertise | Letters

© The Siasat Daily, 2012. All rights reserved.
Jawaharlal Nehru Road, Abids, Hyderabad - 500001, Telangana, India
Tel: +91-40-24744180, Fax: +91-40-24603188
contact@siasat.com