|
|
|
|
|
25th Shawwal 1435 | Saturday, Aug 23, 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

Sex on vacation! Female tourists seek sexual liberty on holidays

For some female tourists, travel is like finding their lost sexual liberty - in one night stands - a ...

World's biggest egg comes with a whopping 50,000pound price tag!

The extinct elephant bird egg which is being termed as the world's biggest egg might fetch 50,000pou ...

Why most people are not downloading apps

Most apps are free and even when these come with a price tag, the amount is nominal. Even then, peop ...

Related News

Lebanon cautions against repercussions from Syrian crisis

Lebanon's social affairs minister Rachid Derbas cautioned Friday that the "country is on the verge o ...

170 illegal immigrants missing off Libyan ...

A wooden boat carrying some 170 illegal immigrants was missing off the Libyan coast near Tripoli Friday, a coast guard official said. Th ...

64 killed in Iraq mosque attack

At least 64 people were killed Friday when suspected Shia militiamen attacked a Sunni mosque in Iraq's eastern province ...

Post new comment

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

Rs. 27490 (Per 10g)

Opinion Poll
Do you think KCR would continue celebrating all national events at Golconda Fort beginning from Independence Day?
YesNoCan't say

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

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