Author: Arabian Media staff
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Kabir Mulchandani, Chairman and Chief Executive, FIVE Holdings. Dubai-based luxury lifestyle group FIVE Holdings has secured a $460m revolving credit facility (RCF) to accelerate its global expansion and repay debt ahead of schedule. The new facility — arranged with Commercial Bank of Dubai, AAIB, and Santander— will allow FIVE to pre-pay its $350m green bond three years before maturity. Following repayment, the group will retain more than $300m in available cash to fuel future investments and move on new opportunities across its portfolio. Kabir Mulchandani, chairman and CEO of FIVE Holdings, said: “The support of leading global banks for this…
Key Takeaways Adding rent payments to your credit score can help raise it, especially if you have little or no credit history. VantageScore 4.0 factors in rent and utility bills, unlike other models. A higher score can help renters qualify for mortgages or better loan terms. While mortgage payments can boost credit scores for homeowners, renters have long been unable to use housing costs to raise their own scores. But recent Federal Housing Finance Agency (FHFA) changes now allow credit bureaus to count rental payments as part of a person’s credit report. Studies show this helps renters build their credit…
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Image credit: Getty Images Oil prices edged down on Thursday, retreating from the previous session’s seven-week high, as some investors took profits after US stocks closed lower and in anticipation of slower winter demand as well as the return of Kurdish supplies. Brent futures were down 49 cents, or 0.7 per cent, to $68.82 a barrel at 0825 GMT, while US West Texas Intermediate futures were down 54 cents, or 0.8 per cent, to $64.45 a barrel. Read more-UAE fuel prices: What will motorists pay in September? Both benchmarks gained 2.5 per cent on Wednesday to reach their highest since…
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Image: Supplied Emaar, the developer behind some of Dubai’s most prominent destinations, unveiled Dubai Mansions, its most exclusive residential project to date, aimed at ultra-high-net-worth buyers. Located adjacent to Dubai Hills Estate, Dubai Mansions will comprise a limited collection of ultra-luxury homes, each measuring 10,000, 15,000 or 20,000 square feet. The company said the new community is designed to embody space, elegance and prestige, with architecture and design inspired by international benchmarks. “There’s a kind of luxury that isn’t loud,” Mohamed Alabbar, founder of Emaar, said. “It doesn’t need validation or volume. It comes from authenticity, from knowing that what…
Image: Supplied Space42, the UAE-based AI-powered space technology company, said it is developing the country’s first sovereign mobility cloud, enabled by Core42’s Sovereign Public Cloud leveraging Microsoft Azure. The project, announced at the Dubai World Congress, will provide a sovereign-enabled platform dedicated to smart mobility and autonomous systems, hosting services such as HD mapping, telematics, fleet operations, traffic management and digital twins. Dr Fan Zhu, senior vice president of autonomous mobility at Space42, said: “The UAE has always led in technological innovation, and autonomous mobility is no exception. By building the nation’s first Sovereign Mobility Cloud with Core42 and Microsoft,…