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Dubai wealth fund said to seek $1bn loan

Investment Corporation of Dubai is seeking to raise a $1 billion loan to refinance existing debt, according to two people with knowledge of the plan. The emirate’s main state-owned holding company is talking to banks to raise a five-year loan to partly repay a $2.55 billion facility that matures in …

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Saudi to privatise 17 university hospitals

The Health Ministry in Saudi Arabia is continuing its programme of hospital privatisation as 17 university hospitals are set to welcome private sector management in new partnership arrangements. The Tatweer Holding Company, which operates under the ministry, is now developing operational models to transform their ownership and management – with …

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Dubai Mall to open virtual reality park in 2018

First-of-its-kind centre will be set across two levels of Dubai Mall VR park will bring together virtual reality developers from around the world “to deliver an unprecedented and awe-inspiring” experience, using immersive rides – including a roller coaster – educational journeys and games. A first-of-its-kind virtual reality “VR Park” will …

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Etisalat launches platform to boost SMEs in UAE

Hello Business Hub includes services beyond telecommunications, including banking, insurance, office leasing and even furniture Hello Business Hub in One JLT, Jumeirah Lake Towers, offers services beyond telecommunications, such as company setup and registration. Telecom giant Etisalat has launched a physical platform aimed at assisting small and medium-sized …

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