North Africa/Middle East

Results for North Africa/Middle East

Saudi Ministry of Commerce and Investment Puts Forward New Bankruptcy Draft Law

The Saudi Ministry of Commerce and Investment has published a new bankruptcy draft law and invited feedback those interested, with their opinions and suggestions before the deadline of October 27, Al Arabiya reported today. The Ministry of Commerce ...

Daily Headline - abi_admin - 09/27/2016 - 13:34 - 0 comments

Saudi Arabia Injects $5.3 Billion in Bank System Amid Crunch

Saudi Arabia’s central bank stepped up efforts to support lenders in the Arab world’s biggest economy as they grapple with the effects of low oil prices, Bloomberg News reported. The Saudi Arabian Monetary Agency, as the central bank is known, said it de ...

Daily Headline - global.abi.org - 09/25/2016 - 18:43 - 0 comments

Saudi Oger Faces Huge Debt Restructuring As Rescue Talks Collapse

The Saudi Arabian government has ended talks aimed at saving construction giant Saudi Oger, which is now facing the prospect of a multi-billion-dollar debt restructuring to stave off collapse, according to sources aware of the matter. Oger, owned by the ...

Daily Headline - global.abi.org - 09/08/2016 - 22:22 - 0 comments

UAE Government Working On Personal Insolvency Law

Obaid Humaid Al Tayer, the Minister of State for Financial Affairs, said on Tuesday that the government is working on a new personal insolvency law that would apply to individuals. His comments follow the news that the UAE’s new bankruptcy law, which pro ...

Daily Headline - global.abi.org - 09/06/2016 - 23:02 - 0 comments

UAE Bankruptcy Law May Be Finalised By End-2016

The United Arab Emirates may finalise a long-pending bankruptcy law by the end of this year, the economy minister said on Wednesday, a move that could help smaller companies in particular as the economy slows because of low oil prices, Reuters reported. ...

Daily Headline - global.abi.org - 08/31/2016 - 20:34 - 0 comments

Africa Israel's Auditors Warn Of Doubts Over Its Future

Israeli property developer Africa Israel Investments may struggle to stay in business, its auditors warned on Tuesday, after its Russia-focused subsidiary AFI Development continued to be hit by the weak Russian economy, Reuters reported. "Various fa ...

Daily Headline - global.abi.org - 08/30/2016 - 22:53 - 0 comments

Dubai's Nakheel Says Has Finished $16 Billion Recovery From Crisis

State-owned property developer Nakheel, which was at the centre of Dubai's debt crisis in 2009, has finished recovering from a $16 billion debt restructuring by repaying an Islamic bond this month, its chairman said on Monday, Reuters reported. Ali ...

Daily Headline - global.abi.org - 08/22/2016 - 19:40 - 0 comments

I.M.F. Lends $12 Billion to Egypt to Fix Ailing Economy

The International Monetary Fund said Thursday that it would grant Egypt a $12 billion loan over three years to help Egypt mend its ailing economy after years of unrest, the International New York Times reported. The I.M.F. said the loan, which is sub ...

Daily Headline - global.abi.org - 08/11/2016 - 22:08 - 0 comments

Oil Income Falling, Saudi Arabia Raises Government Fees and Fines

Saudi Arabia, faced with dwindling oil income, has sharply increased government fees such as visa charges as part of a range of measures aimed at raising revenue from non-oil sources, The Wall Street Journal reported. Under the new rules approved by ...

Daily Headline - global.abi.org - 08/09/2016 - 22:42 - 0 comments

Gulf Keystone Petroleum Moving On Restructuring

The target of a takeover bid, Iraqi oil player Gulf Keystone Petroleum said most of the parties with an interest in the company are in favor of restructuring. The company, which lists headquarters in London, reached an agreement last month with the major ...

Daily Headline - global.abi.org - 08/02/2016 - 23:25 - 0 comments

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