United Arab Emirates

Results for United Arab Emirates

Etihad Airways’ $4 Billion Expansion Plan Stalls

In 2011, Etihad Airways Chief Executive Officer James Hogan hatched a bold strategy to catch up with the airline’s more established Persian Gulf rivals: buying stakes in smaller, cash-hungry carriers across three continents to cobble together enough pass ...

Daily Headline - global.abi.org - 05/21/2017 - 21:09 - 0 comments

Dubai Firm GGICO Aims To Complete Debt Restructuring By June

Dubai-listed conglomerate Gulf General Investment Co(GGICO) said on Monday it expected to complete a restructuring of around Dhs2.36bn ($643m) in loans by next month. The firm, which has investments spanning financial services, property, hospitality, man ...

Daily Headline - global.abi.org - 05/15/2017 - 22:52 - 0 comments

New Etihad Boss to Rethink Strategy After Alitalia Dream Fails

The naming of a new boss at Etihad Airways presents the Gulf carrier with an opportunity to rethink its aggressive expansion strategy after the failure of minority-owned Alitalia underlined the big barriers to global growth, the International New York ...

Daily Headline - global.abi.org - 05/11/2017 - 22:05 - 0 comments

Dubai's Good Times on Hold as Construction Companies Feel Pain

Investors in United Arab Emirates construction stocks can remember the good days -- when oil above $100 a barrel encouraged a seemingly endless stream of lucrative projects, Bloomberg News reported. Now, with crude priced at half that, companies are tryi ...

Daily Headline - global.abi.org - 05/08/2017 - 22:32 - 0 comments

Dana Gas to Start Restructuring Talks on Bond Due in October

Dana Gas PJSC will ask bondholders to accept changed terms on $700 million of debt coming due in October as the energy producer based in the United Arab Emirates seeks to restructure debt for the second time in five years, Bloomberg News reported. Holder ...

Daily Headline - global.abi.org - 05/03/2017 - 20:14 - 0 comments

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

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

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

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

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