North Africa/Middle East

Results for North Africa/Middle East

Dubai Insists the Boom is Not a Bubble This Time Around

Dubai, one of seven principalities that make up the United Arab Emirates, has only minimal oil reserves. Instead, the city-state has positioned itself as the hinge connecting Asia to the rest of the world, the gateway city for the fast-growing frontier m ...

Daily Headline - global.abi.org - 10/28/2014 - 23:04 - 0 comments

Emaar Chairman Welcomes Easing Of Property Prices In Dubai

The chairman of Dubai’s biggest developer has welcomed a softening in real estate prices in the emirate after two years of hyperbolic growth, the Financial Times reported. In a rare public acknowledgment of the slowdown in the emirate’s property mark ...

Daily Headline - global.abi.org - 10/27/2014 - 22:15 - 0 comments

Saudi Contractor MMG Says Board Approves Recovery Plan

Saudi contractor Mohammad Al-Mojil Group's (MMG) board had approved a recovery plan that use most of its existing capital base to pay off debts and new cash raised through a share issue, it said on Sunday, Reuters reported. The firm, which got into ...

Daily Headline - global.abi.org - 10/19/2014 - 22:30 - 0 comments

Dubai World Close To Debt Restructuring Deal Trigger

Dubai World has secured agreement from more than 60 percent of its creditors to reschedule its debt repayments, a top government executive told Reuters, putting it close to the two-thirds assent needed to change the existing terms. Dubai borrowed heavily ...

Daily Headline - global.abi.org - 10/02/2014 - 21:52 - 0 comments

Dubai Amlak's Shareholders Back Debt Restructuring

Shareholders of Dubai's Amlak Finance met for the first time in more than six years on Sunday and backed a key component of the mortgage provider's $2.7 billion debt restructuring deal, Reuters reported. Amlak's future has been in the bala ...

Daily Headline - global.abi.org - 09/28/2014 - 21:06 - 0 comments

Dubai World Debt Restructuring Deal Soon, Shaikh Ahmad Says

State-owned Dubai World is set to reach a deal with creditors to extend repayments on its $25 billion (Dh91.8 billion) debt, according to one of Dubai’s top government officials, Gulfnews.com reported. “I can say for sure we will reach it. It is there an ...

Daily Headline - global.abi.org - 09/21/2014 - 19:25 - 0 comments

Dubai’s Limitless Holds “Positive” Talks On Debt Restructuring

Dubai government-owned property firm Limitless has held positive talks with creditors as it seeks to re-negotiate the terms of a $1.2 billion debt facility which has already been restructured once before, its chief executive told Reuters on Sunday, Gul ...

Daily Headline - global.abi.org - 09/21/2014 - 19:26 - 0 comments

Saudi's Algosaibi Says Creditors' Steering Committee Formed

A steering committee of creditors of Saudi Arabian conglomerate Ahmad Hamad Algosaibi and Brothers (AHAB) has been formed to negotiate its debt restructuring, Algosaibi said on Tuesday, Reuters reported. The family group, which collapsed in 2009 during t ...

Daily Headline - global.abi.org - 09/09/2014 - 22:18 - 0 comments

With its Economy in Freefall, Yemen Secures IMF Lifeline

Spurred by a rapidly deteriorating economy, the International Monetary Fund has approved a three-year extended credit facility worth $552 million with Yemen, the impoverished Arab nation that has become a breeding ground for the terrorist group al Qaeda ...

Daily Headline - global.abi.org - 09/03/2014 - 22:17 - 0 comments

Dubai's Amlak To Hold Talks On Restructuring Plan On September 21

Dubai mortgage lender Amlak Finance said on Wednesday that it would hold a shareholder meeting on September 21 to discuss its restructuring plan and a proposed issue of equity-linked bonds, Arabian Business reported. Creditors of the company, whose share ...

Daily Headline - global.abi.org - 09/03/2014 - 22:18 - 0 comments

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