North Africa/Middle East
Results for North Africa/Middle East
- 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
- Israeli Panel Proposes New Rules For Managing Debt-Troubled Firms
A panel of Israeli regulators has proposed new, more transparent rules for managing companies after they get into financial difficulties that would provide more protection and predictability for creditors, Reuters reported. The panel, led by Finance Mini ...
Daily Headline - global.abi.org - 04/30/2014 - 20:38 - 0 comments
- Saudi Arabia Starts Payout To Minority Investors In Ailing Telco
Saudi Arabia began to compensate shareholders in Saudi Integrated Telecom Co (SITC) for their stakes in the ailing firm on Wednesday, a statement on the Ministry of Finance website said. Last week, a royal decree declared that investors in SITC - excludi ...
Daily Headline - global.abi.org - 04/30/2014 - 20:40 - 0 comments
- Saudi Arabia’s Algosaibi Calls Meet on $5.9 Billion Default
Ahmad Hamad Algosaibi & Brothers Co. invited creditors including BNP Paribas SA (BNP) and Standard Chartered Plc to discuss claims on $5.9 billion of debt as it seeks to recover from the Middle East’s biggest default, Bloomberg News reported. The Sau ...
Daily Headline - global.abi.org - 03/31/2014 - 21:26 - 0 comments
- Dubai Agrees Refinancing Deal
Dubai has received a financial boost thanks to an agreement to refinance at preferential rates $20bn of bonds and loans owed to the central bank of the United Arab Emirates and its capital, Abu Dhabi, the Financial Times reported. The Gulf’s commerci ...
Daily Headline - global.abi.org - 03/17/2014 - 00:02 - 0 comments