United Arab Emirates
Results for United Arab Emirates
- Dubai Group Restructuring Lifts Debt Cloud
Dubai Group, an investment company owned by Dubai's ruler, has agreed to a $10 billion debt restructuring with its main bank creditors after three years of talks, potentially lifting a cloud of uncertainty that has engulfed the emirate since the fin ...
Daily Headline - global.abi.org - 05/09/2013 - 20:03 - 0 comments
- Dubai’s Off-Plan Property Demons Return
The inadequacy of off-plan sales was supposed to be one of the lessons developers and regulators learned from the crisis, which sent real estate prices tumbling by more than half in some parts of Dubai. Such sales were problematic because customers paid ...
Daily Headline - global.abi.org - 05/06/2013 - 20:36 - 0 comments
- UAE’s Dana Sukuk Restructuring Vote Postponed To April 23
Dana Gas, the Abu Dhabi-listed energy firm, postponed the shareholder vote for restructuring of the $920 million sukuk to April 23 after a meeting on Sunday failed to meet the required quorum, Gulf News reported on a Reuters story. This is the second tim ...
Daily Headline - global.abi.org - 03/24/2013 - 21:27 - 0 comments
- UAE's Dana Gas Sukuk Restructuring Vote Postponed
Dana Gas, the Abu Dhabi-listed energy firm, said a shareholder meeting to vote on the restructuring of the $920 million sukuk did not met the required quorum, Reuters reported. A new meeting has been scheduled for March 21, the company said in a filing t ...
Daily Headline - global.abi.org - 03/14/2013 - 20:01 - 0 comments
- Dubai Suitcases of Cash Circumvent Loan Rules
Cash is king in the Persian Gulf emirate’s rebounding property market, limiting the power of regulators to control rising prices that fueled the last property bubble by imposing restrictions on mortgage loans to foreigners. Buyers from Iran to Russia to ...
Daily Headline - global.abi.org - 01/29/2013 - 00:15 - 0 comments
- Dubai's Amlak Confirms $1.9 Billion Debt Restructure Talks
Dubai-based property lender Amlak Finance is in talks with creditors to restructure debts of around AED7bn (US$1.9bn), in the latest attempt to resurrect a victim of Dubai's property crash, ArabianBusiness.com reported. The sharia-compliant mortgage ...
Daily Headline - global.abi.org - 01/17/2013 - 21:43 - 0 comments
- UAE Banks Seek Solution To Mortgage Restrictions
Property buyers using mortgages will have to stump up more than twice as much out of their own pocket to make a down payment as a result of the Central Bank’s new mortgage rules, new research found yesterday, The National reported. Buyers’ self-fundi ...
Daily Headline - global.abi.org - 01/14/2013 - 20:56 - 0 comments
- U.A.E. Limits Mortgages to Foreigners at 50 Percent of Home Value
The United Arab Emirates plans to restrict mortgages for foreigners to 50 percent of the property’s value, threatening to derail a nascent recovery in Dubai home prices after more than three years of declines, Bloomberg News reported today. U.A.E. citize ...
Daily Headline - abi_admin - 12/31/2012 - 10:22 - 0 comments
- Dana Gas Completes Restructuring Sukuk Owned by BlackRock
Dana Gas PJSC, whose bondholders include BlackRock Inc and Ashmore Group Plc, completed the restructuring of $920 million of Islamic bonds after agreeing to pay twice the average yield on emerging markets corporate sukuk, Bloomberg Businessweek reported. ...
Daily Headline - global.abi.org - 12/10/2012 - 23:38 - 0 comments
- Netoil Submits Revised Offer for Petroplus Refinery in France
Netoil Inc., a Dubai-based company, has submitted a revised offer for insolvent Petroplus Holdings AG’s Petit-Couronne refinery in Normandy, France, teaming up with BP Plc., Bloomberg Businessweek reported. “We didn’t have a supplier before, now, we have ...
Daily Headline - global.abi.org - 11/07/2012 - 00:01 - 0 comments