North Africa/Middle East
Results for North Africa/Middle East
- Even as Restructurings Progress, Dubai’s Debt Demons Linger
State-owned investment firm Dubai Group announced its long-awaited $10 billion debt restructuring deal with creditors late on Thursday. While all bankers and advisors who took part in the often acrimonious negotiations breathed a sigh of relief, most of ...
Daily Headline - global.abi.org - 01/26/2014 - 21:31 - 0 comments
- Zim Agrees Restructuring With Creditors
Zim, the Haifa-based container shipping line, said it had agreed a debt restructuring deal in which its owner, Israel Corp, will hand control of two-thirds of the box carrier to creditors and pave the way for its own planned demerger, the Financial Tim ...
Daily Headline - global.abi.org - 01/23/2014 - 21:03 - 0 comments
- Dubai Group Completes $6 Billion Debt Restructuring
Dubai Group LLC, an investment company owned by the emirate’s ruler, said it reached a final agreement with lenders on $6 billion in debt restructuring after three years of talks, Bloomberg News reported. Lenders agreed to extend the maturity for secured ...
Daily Headline - global.abi.org - 01/23/2014 - 21:04 - 0 comments
- Dubai Group Signs $10 Billion Debt Restructuring Deal
Dubai Group has signed a $10 billion debt restructuring deal, two sources with knowledge of the matter told Reuters, marking the end of a perilous period which saw the emirate risk collapse under a mountain of debt obligations, Reuters reported. The unit ...
Daily Headline - global.abi.org - 01/16/2014 - 22:25 - 0 comments
- QFC Strengthens Insolvency Regime To Lure In Foreign Investments
The Qatar Financial Centre (QFC) has strengthened its insolvency regime to enhance certainty in the financial landscape in a bid to woo more foreign investments, a move that would also see the advent of a new breed of Qatar-based insolvency practitioners ...
Daily Headline - global.abi.org - 01/09/2014 - 23:16 - 0 comments
- Dubai’s Crisis-Hit Nakheel Sees Debt-Free Future
Nakheel, the Dubai government-owned developer that restructured $16 billion of debt three years ago after being hit by a sharp drop in local real estate prices, is now aiming to pay back much of those borrowings early and eventually become debt-free as p ...
Daily Headline - global.abi.org - 01/05/2014 - 22:19 - 0 comments
- Dubai Offices Vacant With Multiple Owners Structure
The Index tower on Dubai’s answer to Wall Street has 23 floors of empty offices out of the 25 it opened in 2011, Bloomberg News reported today. The office space in the Index on Sheikh Zayed Road was sold in pieces to nine different investors under a syst ...
Daily Headline - abi_admin - 12/23/2013 - 12:30 - 0 comments
- Ex-Kaupthing Bankers Convicted of Abuses Related to Qatari Investment
An Icelandic court sentenced four former Kaupthing bankers to jail yesterday for market abuses related to a large stake taken in the bank by a Qatari sheikh just before it went under in late 2008, Reuters reported yesterday. Weeks before the country' ...
Daily Headline - abi_admin - 12/13/2013 - 12:01 - 0 comments
- BCCI Creditors Head to Saudi for One Last Collection
When liquidators closed the books on the Bank of Credit and Commerce International case in May, a 21-year-old scandal that shook the global financial system and ensnared arms dealers, dictators and even the CIA appeared to be over. Earlier this month, ho ...
Daily Headline - global.abi.org - 11/19/2013 - 21:05 - 0 comments
- Iran State Gas Company Faces Collapse, Hit by Sanctions
Iran's national gas company said it is facing collapse, the latest sign of deepening economic distress from international sanctions as Tehran seeks urgent relief in talks with world powers, The Wall Street Journal reported. The chief executive o ...
Daily Headline - global.abi.org - 11/18/2013 - 23:21 - 0 comments