|
|
|
|
|
11th Shabanul Mujam 1436 | Friday, May 29, 2015
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

NGO demands ban on sale of Maggi

After a ban on use of Maggi Noddles by Uttar Pradesh and Uttarakhand governments, an NGO today sought an immediate ban on the sale and adver ...

Tourism minister announces Rs 15 cr for Ma...

Fourth North East Youth Festival began today in Assam's Majuli island with Union Minister for state for Culture and Tourism Dr Mahesh Sharma ...

'Achhe din' only meant for Modi,...

Narendra Modi came to power telling lies against the ruling party and now wishes to thrive upon these lies," Congress today alleged, trashin ...

Related News

Militants kill 15 passengers in Pakistan

A group of unknown militants on Friday night killed at least 15 passengers after kidnapping them in Pakistan's south-western province of Bal ...

Saudi-led air strikes kill 40 Houthi gunmen in Yemen

Up to 40 members of the Shia Houthi group were killed during two days of intensified Saudi-led air s ...

Islamic State affiliate in Libya takes civilian airport

Libya's Islamic State affiliate took control of a civilian air base in the central city of Sirte, a ...

Post new comment

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

Rs. 26690 (Per 10g)

Opinion Poll
Should mercy killing be legalised in India?
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