North Africa/Middle East

Results for North Africa/Middle East

Senior management responsibility in banks

Regulators have made clear their view that responsibility for the culture of a bank sits at the top; if senior management create the right culture, good regulatory practice and procedures will naturally follow. Following the financial crisis banks’ s ...

Resource Article - twallace@abiwor... - 11/08/2017 - 09:02 - 0 comments - 0 attachments

Iraq’s Oil Export Talks With Turkey Complicated by $4 Billion Debt

Baghdad’s talks with Turkey about ramping up oil exports from northern Iraq, including the semi-autonomous Kurdish region, is complicated by a $4 billion debt that the Kurds owe to Turkey, according to Iraq’s oil minister, Bloomberg News reported. Iraq i ...

Daily Headline - global.abi.org - 11/02/2017 - 20:25 - 0 comments

Bahrain Asks Gulf Allies for Aid to Stave Off Crisis

Bahrain has asked Gulf Arab allies for financial assistance as it seeks to replenish its foreign-exchange reserves and avert a currency devaluation that could reverberate across the region, according to people with knowledge of the talks. The request was ...

Daily Headline - global.abi.org - 11/01/2017 - 21:30 - 0 comments

Dana Gas to Miss Payment on $700 Million Sukuk Tomorrow

A Middle Eastern energy company that has questioned the lawfulness of its own sukuk won’t settle the $700 million worth of debt owed to investors, according to people familiar with the matter. Dana Gas PJSC, the Sharjah, United Arab Emirates-based energy ...

Daily Headline - global.abi.org - 10/30/2017 - 21:28 - 0 comments

Global Asset Management Quarterly – issue 7

Welcome to the seventh edition of Global asset management quarterly. This publication highlights key developments that will be of interest to and affect our asset management clients, including market trends and developments in tax and buy-side regulation ...

Resource Article - twallace@abiwor... - 10/26/2017 - 12:57 - 0 comments - 0 attachments

Dubai Returns to Court Over Ship-Repair Company’s $2.1 Billion Debt

Dubai’s Drydocks World has returned to the courts to push through a $2.1bn debt restructuring, clearing the path for the troubled ship-repair business’ sale to a sister company, DP World, the emirate’s port operator, the Financial Times reported. The ...

Daily Headline - global.abi.org - 10/03/2017 - 16:40 - 0 comments

Saudi Arabia to Implement Bankruptcy Law In Early 2018

Saudi Arabia will begin implementing a new bankruptcy law early next year as part of efforts to attract foreign investment and encourage private sector activity, Saudi-owned broadcaster Al Arabiya reported citing the kingdom’s commerce minister. Under cu ...

Daily Headline - global.abi.org - 09/24/2017 - 19:16 - 0 comments

Dana Fight With BlackRock to Start Despite U.A.E. Court Order

A London lawsuit over $700 million in Shariah-compliant bonds issued by Dana Gas PJSC will go ahead despite a last-minute United Arab Emirates court order that attempted to stop the company from taking part in the trial, Bloomberg News reported. Dana Gas ...

Daily Headline - global.abi.org - 09/19/2017 - 21:41 - 0 comments

Dubai’s DP World to Buy Drydocks World

Dubai’s DP World has agreed to buy Drydocks World and a maritime business park in the emirate for $405m. Ports operator DP World, majority owned by government conglomerate Dubai World, agreed to buy Dubai World’s Drydocks World ship repair unit via a cas ...

Daily Headline - global.abi.org - 09/18/2017 - 23:20 - 0 comments

Goldman, BlackRock Offer Dana Deal to End $700 Million Debt Saga

Dana Gas PJSC bondholders, including BlackRock Inc. and Goldman Sachs Group Inc., submitted a proposal to the Middle Eastern energy producer to resolve a dispute over a $700 million sukuk that shocked the Islamic finance industry this year, Bloomberg New ...

Daily Headline - global.abi.org - 09/13/2017 - 21:03 - 0 comments

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