United Arab Emirates

Results for United Arab Emirates

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

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

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

Dubai Sheikh's Buyout Firm Reaches $1 Billion Debt Deal

Dubai International Capital LLC reached an agreement with banks to roll over a loan of about $1 billion, Bloomberg News reported. The private-equity firm owned by the emirate’s ruler plans to extend the loan for three years and sign the agreement in the ...

Daily Headline - abi_admin - 12/22/2017 - 00:37 - 0 comments

Senior management responsibility in banks

Regulators have made clear their view that responsibility for the culture of a bank sits at the top; if senior management create the right culture, good regulatory practice and procedures will naturally follow. Following the financial crisis banks’ s ...

Resource Article - twallace@abiwor... - 11/08/2017 - 10:02 - 0 comments - 0 attachments

Dana Gas to Miss Payment on $700 Million Sukuk Tomorrow

A Middle Eastern energy company that has questioned the lawfulness of its own sukuk won’t settle the $700 million worth of debt owed to investors, according to people familiar with the matter. Dana Gas PJSC, the Sharjah, United Arab Emirates-based energy ...

Daily Headline - global.abi.org - 10/30/2017 - 22:28 - 0 comments

Dubai Returns to Court Over Ship-Repair Company’s $2.1 Billion Debt

Dubai’s Drydocks World has returned to the courts to push through a $2.1bn debt restructuring, clearing the path for the troubled ship-repair business’ sale to a sister company, DP World, the emirate’s port operator, the Financial Times reported. The ...

Daily Headline - global.abi.org - 10/03/2017 - 17:40 - 0 comments

Dana Fight With BlackRock to Start Despite U.A.E. Court Order

A London lawsuit over $700 million in Shariah-compliant bonds issued by Dana Gas PJSC will go ahead despite a last-minute United Arab Emirates court order that attempted to stop the company from taking part in the trial, Bloomberg News reported. Dana Gas ...

Daily Headline - global.abi.org - 09/19/2017 - 22:41 - 0 comments

Dubai’s DP World to Buy Drydocks World

Dubai’s DP World has agreed to buy Drydocks World and a maritime business park in the emirate for $405m. Ports operator DP World, majority owned by government conglomerate Dubai World, agreed to buy Dubai World’s Drydocks World ship repair unit via a cas ...

Daily Headline - global.abi.org - 09/19/2017 - 00:20 - 0 comments

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