Dewa income up 8.6%, loans fall

The Dubai Electricity and Water Authority (Dewa) announced an 8.6 per cent increase in income in the first six months of 2011, according to a statement posted on Nasdaq Dubai bourse Tuesday. Dewa's income was Dh1.63 billion in 2011, up from Dh1.5 billion in the same period of 2010. The statement also revealed that Dewa's borrowing fell in the first half of 2011 to Dh26.5 billion at the end of June to Dh31 billion in December 2010. A loan from Dubai Islamic Bank was fully repaid during this period, and Dewa also repaid Dh5.4 billion against loan from a consortium of banks