North Africa/Middle East
Results for North Africa/Middle East
- 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
- Brown Rudnick's Middle East and North Africa Bulletin
MENA Team News DIFC Court of Appeal upholds judgment for USD 60m in a property finance dispute Deyaar Development P.J.S.C. v Taaleem P.J.S.C. & National Bonds Corporation P.J.S.C.  DIFC CA 010 Having obtained in 2015 a judgment agains ...
Resource Article - twallace@abiwor... - 02/08/2017 - 13:55 - 0 comments - 1 attachment
- The New UAE Bankruptcy Law
Partners Mark Craggs and Matthew Escritt review the eagerly anticipated Federal Law No. 9 of 2016 (the “New Bankruptcy Law”) which came into force on 29 December 2016. Click here for more. (United Arab Emirates) bankruptcy,insolvency,headli ...
Resource Article - twallace@abiwor... - 02/08/2017 - 13:44 - 0 comments - 0 attachments
- Emirates Airline Embarks On 'Modest Restructuring' As Growth Slows
Emirates, the world's biggest long-haul airline, said on Monday it was in the process of only a "modest restructuring," two months after it reported a 75 percent decline in half-year profits due to slower growth and increased competition, ...
Daily Headline - global.abi.org - 01/23/2017 - 22:40 - 0 comments
- Egypt Approves Bankruptcy Law To Spur Investment
The Egyptian cabinet approved on Wednesday the country's first bankruptcy law, Justice Minister Hossam Abdelrahim said, part of an economic reform drive aimed at encouraging investment, Reuters reported. The law aims to minimise the need for compani ...
Daily Headline - global.abi.org - 01/04/2017 - 21:53 - 0 comments
- Dubai’s Amlak Announces Renegotiation Of Restructuring Terms
Islamic mortgage provider Amlak Finance has announced the renegotiation of a restructuring deal with its financiers, Gulf Business reported. The firm said it approached financiers in September to wave “a number of restrictive covenants” in its origin ...
Daily Headline - global.abi.org - 01/03/2017 - 23:45 - 0 comments
- Saudi Royal Family Is Still Spending in an Age of Austerity
King Salman serves as chairman of the family business unofficially known as “Al Saud Inc.” Sustained low oil prices have strained the economy and forced questions about whether the family — with thousands of members and still growing — can simultaneously ...
Daily Headline - global.abi.org - 12/27/2016 - 22:26 - 0 comments
- Troubled Saudi Builder MMG Appeals Directly To Deputy Crown Prince
Embattled Saudi construction firm Mohammad Al Mojil Group (MMG) said it has written directly to Deputy Crown Prince Mohammed bin Salman explaining that it may not be able to continue operating, Reuters reported. It was unclear if the privately owned comp ...
Daily Headline - global.abi.org - 11/21/2016 - 21:59 - 0 comments
- IMF Approves $12 Billion Loan to Egypt
The International Monetary Fund’s executive board on Friday approved Egypt’s request for a $12 billion loan facility, after the North African country met its requirements to implement tough measures to revive its floundering economy, The Wall Street Jo ...
Daily Headline - global.abi.org - 11/13/2016 - 16:47 - 0 comments
- Saudi Oger Seeks Payment Freeze On $3.5 Billion Local Bank Debt
Construction giant Saudi Oger has asked banks to agree to a freeze in repayments on at least 13 billion riyals ($3.5 billion) of debt, sources aware of the matter said, as it seeks more time to collect money owed by the kingdom's government, Reuters ...
Daily Headline - global.abi.org - 11/08/2016 - 22:21 - 0 comments