Financial and Banking News
LOANS AND ISSUES
AREG to Reschedule Debt to UBME
The Dubai-based trading group ARE Galadari Brothers (AREG) has reached anout-of-court settlement to reschedule Dh500mn ($136mn) of debts owed to theUnion Bank of the Middle East (UBME), an AREG spokesman said last week Thesettlement follows an order by the Dubai Court of Appeal to AREG to settle itsoutstanding debt of Dh401mn to UBME (MEES, 7 November). The total figure ofDh500mn to be...