North Africa/Middle East

Results for North Africa/Middle East

As Parent Company Heads To Liquidation, Control Struggle at Israel’s Biggest Telco Continues

On Sunday, a Tel Aviv district court judge ordered the liquidation of Eurocom Communications Ltd., the communication arm of Israel-based Eurocom Group, and ordered its real estate arm into receivership, CTech reported. Eurocom's most attractive asse ...

Daily Headline - global.abi.org - 04/23/2018 - 22:14 - 0 comments

First Saudi Arabian-Linked Banks Join Al-Gosaibi Debt Settlement Plan

Two Saudi Arabian-linked banks have become the first lenders with ties to the kingdom to sign a debt settlement plan with Ahmad Hamad al-Gosaibi and Brothers (AHAB), the company's chief executive said, opening the way for the conglomerate to try to ...

Daily Headline - global.abi.org - 04/18/2018 - 00:49 - 0 comments

Israeli Unions Warn Teva Pharm Over Plan to Close Ashdod Plant

Israel's main labor federation intends to take labor or legal action against Teva Pharmaceutical Industries if the drugmaker does not suspend a decision to close a plant in the Israeli port city of Ashdod, it said on Sunday. Debt-laden Teva, the wor ...

Daily Headline - global.abi.org - 04/15/2018 - 22:53 - 0 comments

As Sukuk Disputes Simmer, Islamic Scholars Ponder Legal Risks

Senior scholars in Islamic finance are exploring ways to prevent legal disputes that have roiled the industry, with new rules aiming to clarify responsibilities, while others raise the prospect of penalties for their peers, Reuters reported. The discussi ...

Daily Headline - global.abi.org - 04/10/2018 - 22:11 - 0 comments

UK Injunction Restricts Dana Gas Dividends in $700 Million Sukuk Dispute

United Arab Emirates energy firm Dana Gas said on Sunday it had received a new injunction from the English High Court restricting its ability to pay dividends or increase its debt, the International New York Times reported on a Reuters story. The inj ...

Daily Headline - global.abi.org - 04/08/2018 - 23:59 - 0 comments

Lebanon Seeks Funds for Troubled Economy at Paris Conference

Lebanon hopes to secure billions of dollars for infrastructure this week at an international donor conference in Paris, as it grapples with low growth and soaring debt, the International New York Times reported on an Associated Press story. Some 50 c ...

Daily Headline - global.abi.org - 04/06/2018 - 01:02 - 0 comments

Gulf General Investment Company in Talks to Restructure Debt

Gulf General Investment Company (GGICO) is in talks with lenders to restructure loan and credit facilities after defaulting on a payment linked to 2.15 billion dirhams ($585.5 million) of debt at the end of last year, the Sharjah-based firm said on Sunda ...

Daily Headline - global.abi.org - 04/01/2018 - 22:48 - 0 comments

Brokerage Delegates in Key Role on Distressed Etihad Bonds

A troubled Luxembourg brokerage has sought outside help to fulfil a crucial role in the restructuring of $1.2bn of structured bonds backed by defaulted airlines such as Air Berlin and Alitalia, the Financial Times reported. The fate of the $1.2bn of ...

Daily Headline - global.abi.org - 03/27/2018 - 22:39 - 0 comments

Saudi Tycoon's Creditor Banks Weigh Multi-Billion Dollar Debt Deal

Bank creditors of detained Saudi Arabian tycoon, Maan al-Sanea, have asked his advisers for more details on a proposed settlement covering 16 billion riyals ($4.3 billion) in claims before they agree to move forward with the process, sources close to the ...

Daily Headline - global.abi.org - 03/22/2018 - 20:45 - 0 comments

Some Holders of Etihad-Linked $1.2 Billion Bonds Brace for Default

Some holders of $1.2 billion in bonds linked to Etihad Airways are seeking to appoint legal advisers to evaluate their options with respect to a potential default of the notes, sources familiar with the matter said. Etihad issued the bonds in 2015 and 20 ...

Daily Headline - global.abi.org - 03/16/2018 - 01:12 - 0 comments

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