Tamweel to ask to restart trading

Dubai-based mortgage lender Tamweel, whose stock were suspended in November 2008, plans to seek the market regulator's permission to restart trading in the shares, Al Itihad has reported, citing Chairman Sheikh Khaled Bin Zayed al-Nehayan. Tamweel plans to put in the request with the Emirates Securities and Commodities Authority within a month, Sheikh Khaled was cited as saying by the newspaper. The company will need about Dhs1bn ($272m) for its operations this year and is in talks with the federal government, Sheikh Khaled told the newspaper.