Financial tips for credit card holders

Dubai duty free refinances loans worth $25 bln for better terms

´╗┐DUBAI, Sept 22 Airport retailer Dubai Duty Free (DDF) has completed repricing a $1.75 billion loan for the second time in just over a year to obtain more favourable terms, with a second facility worth $750 million also renegotiated to reduce the borrowing cost. The state-controlled retailer launched the repricing exercise last month, one of a string of United Arab Emirates companies to cut their borrowing costs in recent months by refinancing loans with cash-flush local banks. The $1.75 billion six-year loan, originally signed in July 2012 but repriced a year later, now carries an interest rate of 1.5 percent above the Emirates Interbank Offered Rate (Eibor) on the dirham-denominated tranche after the second amendment, a statement from DDF. The new margin on the dollar-denominated portion of the loan is 1.75 percent above the London interbank offered rate (Libor).

"In consideration for consenting to the repricing request, financial institutions are compensated with an amendment fee," the retailer said in its statement without detailing how much the fee was.

Citi acted as sole coordinator for the loan repricing. A separate $750 million, dollar-denominated loan taken last September to fund the company's expansion at Dubai International Airport has also been repriced to 1.75 percent over Libor from 2.25 percent, in a deal arranged by Emirates NBD.

As well as DDF, ports operator DP World refinanced and tripled in size a $1 billion loan with most of the lifespan remaining in July to secure better pricing, while Atlantis, The Palm, the luxury hotel situated at the top of a palm-shaped manmade island, is currently doing the same on a $880 million facility. DDF was established in 1983 as the sole duty free operator at the departure and arrival areas of all terminals at Dubai International Airport.

Money Is This How You Make It

There are several methods to make extra money which you may not have tried yet. Most people have jobs and work for someone else, but there are many ways in which to be self-employed. It just depends on harnessing skills and knowledge you already have, and finding clients to pay you for them.

With their busy schedules, many families do not have time to make home-cooked meals. If you have cooking skills, advertise in your local paper that you will prepare food to order. If you are dealing with a family or a small party, you can handle the job yourself and won't need any helpers. And who knows, as your client base expands, you may want to hire an assistant and become a professional.

If you are retired professional, think about working part-time from home. For example, an accountant could do income tax, and an ex-office worker can type student essays.

If you can't find a full-time job and have typing and word processing skills, think about applying to office temp agencies. The work can be irregular, but it pays fairly well.

If you have specialized knowledge, such as a trade or profession, write an e-book with tips the public can use. For instance, an electrician can write down simple steps to installing a light fixture; a nurse can advise middle-aged baby boomers on how to care for elderly, debilitated parents. With a tight economy, many people are trying to save money by doing household repairs themselves. Step by step advice on dealing with common household emergencies or car problems is useful to many people. Medical advice is extremely valuable, and there are many online books being sold successfully to help patients deal with common medical problems such as diabetes and heart disease.

Also, if you have a college education, think about tutoring students. You don't need a teaching diploma to help a grade-school child who is having trouble reading; often the most important skill in this instance is patience. If you know how to play a musical instrument, give music lessons.

If you have a website or are considering starting one, place Google Adsense ads on it. It will pay for the maintenance of the website at the very least, and if you get enough traffic, it can provide an extra income stream. Consider becoming an affiliate for other companies featuring products and services related to what you are selling. For instance, a website featuring autoparts could do affiliate sales for car companies and tire suppliers. These items would enhance your own website by expanding the available product line without detracting from sales of your own product.

People with no knowledge skills can often make money through doing physically tough jobs that unathletic or elderly people can't do. Washing windows, cleaning rain gutters, moving, landscaping and housecleaning can pay up to thirty dollars per hour, and are really no more demanding than the jobs offered for minimum wage, such as flipping burgers or waiting on tables.

If you own your own home, consider renting out the basement to students or pensioners. These are usually quiet tenants who will respect your privacy, and provide a steady rental income of up to several hundred dollars a month, depending on the size of the accommodations you have available. If you live in the country or some scenic area, it may be possible to run a bed and breakfast, but being an innkeeper takes more time and effort than renting to long-term tenants.

Many communities have free local bulletins which charge only nominal fees for advertising. Public bulletin boards are often available at the local mall. Create many copies of an ad briefly describing the service you are offering and how much you charge, with tear-off tags at the bottom with your name and phone number. Post the ad all around your neighborhood and you are bound to get a few replies.