North Africa/Middle East
Results for North Africa/Middle East
- UAE Bankruptcy Law Could Put Court System Under Pressure
The new bankruptcy law could come into effect by the end of the year, amid concerns that the court system may struggle to implement it effectively, The National reported. The bankruptcy law was published in the country’s official legal gazette on Sep ...
Daily Headline - global.abi.org - 10/25/2016 - 19:25 - 0 comments
- Idle Workers, Inevitable Cuts: Ministers Grade the Saudi Economy
Saudis who switched on a popular talk show last week to listen to officials explain why state employees had their take-home pay cut were in for a shock, Bloomberg News reported. Within minutes of the start of MBC1’s “Al Thamena” program, viewers were tol ...
Daily Headline - global.abi.org - 10/23/2016 - 21:22 - 0 comments
- Saudi Arabia, Where Even Milk Depends on Oil, Struggles to Remake Its Economy
Low oil prices and an increasingly costly war in Yemen have torn a yawning hole in the Saudi budget and created a crisis that has led to cuts in public spending, reductions in take-home pay and benefits for government workers and a host of new fees and f ...
Daily Headline - global.abi.org - 10/13/2016 - 22:28 - 0 comments
- Saudi Arabia Signals Challenges to Economy Ahead of Bond Issue
Ahead of a multibillion-dollar bond issue, Saudi Arabia warned investors of the challenges that cheap oil poses to its economy and said it would take 70 years to sell all of its oil, prompting concerns that some of it could go unrealized, The Wall Stre ...
Daily Headline - global.abi.org - 10/11/2016 - 22:14 - 0 comments
- Gulf Keystone Creditors Win Control as Court Approves Debt Deal
Gulf Keystone Petroleum Ltd. bondholders won control of the oil producer after a London judge approved a debt-restructuring agreement, Bloomberg News reported yesterday. The decision gives creditors 85.5 percent of the company, according to a court rulin ...
Daily Headline - abi_admin - 09/30/2016 - 14:40 - 0 comments
- Saudi Ministry of Commerce and Investment Puts Forward New Bankruptcy Draft Law
The Saudi Ministry of Commerce and Investment has published a new bankruptcy draft law and invited feedback those interested, with their opinions and suggestions before the deadline of October 27, Al Arabiya reported today. The Ministry of Commerce ...
Daily Headline - abi_admin - 09/27/2016 - 13:34 - 0 comments
- Saudi Arabia Injects $5.3 Billion in Bank System Amid Crunch
Saudi Arabia’s central bank stepped up efforts to support lenders in the Arab world’s biggest economy as they grapple with the effects of low oil prices, Bloomberg News reported. The Saudi Arabian Monetary Agency, as the central bank is known, said it de ...
Daily Headline - global.abi.org - 09/25/2016 - 18:43 - 0 comments
- Saudi Oger Faces Huge Debt Restructuring As Rescue Talks Collapse
The Saudi Arabian government has ended talks aimed at saving construction giant Saudi Oger, which is now facing the prospect of a multi-billion-dollar debt restructuring to stave off collapse, according to sources aware of the matter. Oger, owned by the ...
Daily Headline - global.abi.org - 09/08/2016 - 22:22 - 0 comments
- UAE Government Working On Personal Insolvency Law
Obaid Humaid Al Tayer, the Minister of State for Financial Affairs, said on Tuesday that the government is working on a new personal insolvency law that would apply to individuals. His comments follow the news that the UAE’s new bankruptcy law, which pro ...
Daily Headline - global.abi.org - 09/06/2016 - 23:02 - 0 comments
- UAE Bankruptcy Law May Be Finalised By End-2016
The United Arab Emirates may finalise a long-pending bankruptcy law by the end of this year, the economy minister said on Wednesday, a move that could help smaller companies in particular as the economy slows because of low oil prices, Reuters reported. ...
Daily Headline - global.abi.org - 08/31/2016 - 20:34 - 0 comments