North Africa/Middle East

Results for North Africa/Middle East

Etihad Airways’ $4 Billion Expansion Plan Stalls

In 2011, Etihad Airways Chief Executive Officer James Hogan hatched a bold strategy to catch up with the airline’s more established Persian Gulf rivals: buying stakes in smaller, cash-hungry carriers across three continents to cobble together enough pass ...

Daily Headline - global.abi.org - 05/21/2017 - 21:09 - 0 comments

Oman to Sell $2 Billion of Islamic Bonds, Finance Chief Says

Oman plans to sell $2 billion of Islamic bonds this month as it seeks to trim a large budget deficit caused by lower oil revenue, Finance Minister Darwish Al Balushi said. The crude exporter’s budget deficit will reach 12 percent of economic output this ...

Daily Headline - global.abi.org - 05/17/2017 - 23:02 - 0 comments

Don't Tighten Fiscal Policy Too Fast, IMF Warns Saudis

The International Monetary Fund warned Saudi Arabia on Wednesday not to tighten fiscal policy too fast, saying rapid cuts to the government's budget deficit could damage the economy, the International New York Times reported on a Reuters story. ...

Daily Headline - global.abi.org - 05/17/2017 - 23:03 - 0 comments

Dubai Firm GGICO Aims To Complete Debt Restructuring By June

Dubai-listed conglomerate Gulf General Investment Co(GGICO) said on Monday it expected to complete a restructuring of around Dhs2.36bn ($643m) in loans by next month. The firm, which has investments spanning financial services, property, hospitality, man ...

Daily Headline - global.abi.org - 05/15/2017 - 22:52 - 0 comments

New Etihad Boss to Rethink Strategy After Alitalia Dream Fails

The naming of a new boss at Etihad Airways presents the Gulf carrier with an opportunity to rethink its aggressive expansion strategy after the failure of minority-owned Alitalia underlined the big barriers to global growth, the International New York ...

Daily Headline - global.abi.org - 05/11/2017 - 22:05 - 0 comments

Dubai's Good Times on Hold as Construction Companies Feel Pain

Investors in United Arab Emirates construction stocks can remember the good days -- when oil above $100 a barrel encouraged a seemingly endless stream of lucrative projects, Bloomberg News reported. Now, with crude priced at half that, companies are tryi ...

Daily Headline - global.abi.org - 05/08/2017 - 22:32 - 0 comments

Saudi Arabia Avoids Financial Crisis-Now for the Hard Part

Saudi Arabia has dodged a financial crisis due to low oil prices by slashing state spending and borrowing tens of billions of dollars abroad, but now it faces a tougher challenge: getting the economy growing again, the International New York Times re ...

Daily Headline - global.abi.org - 05/04/2017 - 21:51 - 0 comments

Dana Gas to Start Restructuring Talks on Bond Due in October

Dana Gas PJSC will ask bondholders to accept changed terms on $700 million of debt coming due in October as the energy producer based in the United Arab Emirates seeks to restructure debt for the second time in five years, Bloomberg News reported. Holder ...

Daily Headline - global.abi.org - 05/03/2017 - 20:14 - 0 comments

Saudi Arabia Reinstates Perks for State Employees as Finances Improve

Saudi Arabia’s King Salman has reinstated allowances and bonuses for state employees as its finances improve, a move aimed at boosting consumer confidence to support growth as the kingdom overhauls its oil-dependent economy, The Wall Street Journal r ...

Daily Headline - global.abi.org - 04/23/2017 - 19:07 - 0 comments

UAE Bankruptcy No Longer Leads Straight to Prison

UAE residents are hopeful that new bankruptcy legislation will ease the burden on small business owners. After years of deliberations, in December the federal government introduced an insolvency law to ease the orderly unwinding of bankrupt companies, in ...

Daily Headline - global.abi.org - 03/22/2017 - 22:44 - 0 comments

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