North Africa/Middle East

Results for North Africa/Middle East

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

Bahrain Batelco Says India Ex-Partner Is Bankrupt, Seeks $212 Million Owed

subscribers, a 0.4 percent market share. In February 2012, S Tel was ordered stripped of its licences as part ...

Daily Headline - global.abi.org - 09/01/2014 - 20:41 - 0 comments

Abu Dhabi's Al Jaber Group Signs Debt Restructuring

Abu Dhabi-based conglomerate Al Jaber Group has signed a debt restructuring deal with its bank creditors, the conglomerate said on Monday, addressing one of the United Arab Emirates' last big debt hangovers from the global financial crisis, Reuters ...

Daily Headline - global.abi.org - 06/16/2014 - 22:29 - 0 comments

ANSA/Alitalia Set For Painful Restructuring

Italian carrier Alitalia is in for some "painful and arduous" restructuring but should see a deal with Etihad Airways in a matter of weeks, the airline's chief executive officer said Monday, Gazzetta del Sud reported. Gabriele Del Torc ...

Daily Headline - global.abi.org - 06/09/2014 - 21:18 - 0 comments

Etihad Details Criteria For Equity Investment In Alitalia

The UAE-based Etihad Airways has said that it is pressing ahead with a plan for an equity investment in the struggling Italian carrier Alitalia, The Economic Times reported. Etihad Airways, which has been in negotiations for almost a year, said it wi ...

Daily Headline - global.abi.org - 06/02/2014 - 21:42 - 0 comments

Zim Cuts Loss, Negotiating With Employees Ahead Of Restructuring

Zim has cut its first quarter loss by 45% to $62m as it awaits approval of its substantial restructuring proposal, Seatrade reported. The Israeli box line recorded an EBIT loss of $8m in the period, improving on Q1 2013's $47m operating loss. Zi ...

Daily Headline - global.abi.org - 05/28/2014 - 23:39 - 0 comments

Israeli State to Lose Control of Zim in $3 Billion Restructuring Deal

The Israeli state is set to lose control of container carrier ZIM who says it has finalised a $3 billion financial restructuring plan with creditors that includes a $1.4 billion debt-to-shares swap, Ship & Bunker reported. The deal, which is stil ...

Daily Headline - global.abi.org - 05/20/2014 - 22:22 - 0 comments

Algosaibi Creditors Voice Frustration in Long Running Saudi Dispute

Ahmad Hamad Algosaibi and Brothers, a Saudi family-owned conglomerate that defaulted on its debts near the beginning of the financial crisis in 2009, met with creditors in Dubai on Wednesday to propose a new settlement: a cash payment of about 20 cents f ...

Daily Headline - global.abi.org - 05/08/2014 - 00:03 - 0 comments

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