Financial and Banking News
Sharjah Will Use Gas Revenues from Dubai to Fund Local Debt
Rescheduling Sharjah will assign revenues from its gas exports to Dubai tofund a rescheduling of its domestic commercial debt. The Government of Sharjahis currently in negotiation with the local banks over the terms of therescheduling, which is expected to cover about Dh2.5bn ($680mn) in eligibledebts. The government is asking to spread repayments over nine years,...