Dubai Holding repays $250m loan



Dubai Holding, the conglomerate owned by Sheikh Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai, today said it had repaid a US$250 million (Dh918.2m) loan to BNP Paribas on its maturity date. The repayment comes a week after Dubai Holding said it had paid off a $300m loan of its property subsidiary, Sama Dubai. Investors are closely watching how Dubai deals with major debts in order to evaluate the emirate's economic health. Dubai and related entities are dealing with an estimated $85 billion of debt.

The UAE has refinanced about two-thirds of its $27.7bn of Eurobond and syndicated loan redemptions, according to a report from Deutsche Bank this month. Dubai accounted for $19.3bn of the obligations, while Abu Dhabi accounted for about $8.1bn, the report said. Still, Dubai has heavy obligations going forward, with an average annual redemption requirement of $12.5bn from next year to 2014, the report said.

Caroline Grady, an economist at Deutsche Bank, wrote that Nakheel's $3.5bn Islamic bond due on December 14 was "seen as the litmus test of sovereign creditworthiness". @Email:bhope@thenational.ae

10 tips for entry-level job seekers
  • Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
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  • Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
  • For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
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  • Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
  • Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
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  • Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
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Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
THE LIGHT

Director: Tom Tykwer

Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger

Rating: 3/5