North Africa/Middle East
Results for North Africa/Middle East
- Moody's Downgrades Saudi Arabia Credit Rating Over Oil Price Slump
Saudi Arabia’s credit rating has been downgraded by Moody’s because of the long and deep slump in oil prices, The Guardian reported. Moody’s Investors Service said it also downgraded Gulf oil producers Bahrain and Oman. It left ratings unchanged for ...
Daily Headline - global.abi.org - 05/15/2016 - 21:05 - 0 comments
- Saudi Opens Door To Short Sellers To Lure Investors
Saudi Arabia has announced a series of market reforms aiming to make its $400bn bourse more attractive to foreign investors ahead of a much-anticipated listing of state oil company Saudi Aramco, the Financial Times reported. The Capital Market Author ...
Daily Headline - global.abi.org - 05/03/2016 - 20:31 - 0 comments
- Saudi Arabia Approves Economic Reform Program
Saudi Arabia unveiled plans to free the kingdom from its dependence on oil revenues, in part by selling a stake in its state-owned oil company and creating the world’s largest sovereign-wealth fund, The Wall Street Journal reported. The move represen ...
Daily Headline - global.abi.org - 04/25/2016 - 21:38 - 0 comments
- Creditor Sale Brings Dubai's Limitless To Brink Of Debt Plan Deal
Dubai-based property developer Limitless is set to complete a drawn-out debt restructuring after the final dissenting creditor sold its share of the company's 4.45 billion dirhams ($1.2 billion) debt, sources with knowledge of the matter said on Wed ...
Daily Headline - global.abi.org - 04/20/2016 - 21:59 - 0 comments
- Saudi Arabia Takes Out $10 Billion In Bank Loans
Saudi Arabia is raising $10bn from a consortium of global banks as the kingdom embarks on its first international debt issuance in 25 years to counter dwindling oil revenues and reserves, CNBC reported on a Financial Times story. The landmark five-ye ...
Daily Headline - global.abi.org - 04/19/2016 - 21:27 - 0 comments
- IMF Agrees $2.8 Billion Bailout For Tunisia
The International Monetary Fund has successfully concluded negotiations for a $2.8bn bailout for Tunisia, the latest in a series of loans to countries in north Africa and the Middle East to help them cope with the stresses posed by a growing influx of re ...
Daily Headline - global.abi.org - 04/17/2016 - 18:12 - 0 comments
- Abu Dhabi Fund Says It Never Received Payments From Malaysia’s 1MDB
An Abu Dhabi state fund said publicly for the first time on Monday that it hadn’t received billions of dollars in payments that a controversial Malaysian fund set up by Prime Minister Najib Razak claims it sent, The Wall Street Journal reported. The ...
Daily Headline - global.abi.org - 04/11/2016 - 22:11 - 0 comments
- UAE Conglomerate Al Jaber Misses Payment On $4.5 Billion Restructured Debt
Al Jaber Group missed a March repayment on its $4.5 billion restructuring, three sources aware of the matter told Reuters on Tuesday, adding pressure on the Abu Dhabi-based conglomerate to quickly secure a new debt deal to save it from collapse. The fami ...
Daily Headline - global.abi.org - 04/05/2016 - 21:17 - 0 comments
- Saudis Moving to Reduce Dependence on Oil Money
A top Saudi prince has announced new elements of a plan to reduce the kingdom’s heavy dependence on oil, amid a drop in world prices that has sent shock waves through the Saudi economy. The plans include publicly selling shares of the state oil giant, Sa ...
Daily Headline - global.abi.org - 04/03/2016 - 21:39 - 0 comments
- Historic Zim Lines Result After Debt Restructure Points The Way For HMM's Battered Creditors
Israeli container shipping line Zim last week delivered some of the best results in liner industry, reporting a net profit of $7m for 2015, recovering from a $198m net loss in 2014, The Loadstar reported. The overall improved profitability was almost ...
Daily Headline - global.abi.org - 03/29/2016 - 23:33 - 0 comments