United Arab Emirates

Results for United Arab Emirates

UAE Insolvency Law Closer To Reality

At the start of a new year, the UAE’s lawyers, bankers, small business owners and, indeed, government officials, are still waiting for the country’s new insolvency bus – sorry, law –to arrive. But the signs are that after many years of standing at the bu ...

Daily Headline - global.abi.org - 01/28/2015 - 21:37 - 0 comments

UAE Insolvency Law: Priority For Business Growth

Towards the end of last year, it was announced that the UAE’s long anticipated reform of the insolvency reform bill was reaching its final stages prior to implementation, Emirates 24/7 reported. The legal framework was drawn up following the establishmen ...

Daily Headline - global.abi.org - 01/25/2015 - 21:36 - 0 comments

Dubai's Limitless Nears Creditor Assent For Debt Extension

Dubai government-owned property developer Limitless has secured the agreement of 85 percent of its creditors for a three-month extension to a debt repayment due at the end of 2014 and for a proposed restructuring plan, its chairman said, Reuters reported ...

Daily Headline - global.abi.org - 01/21/2015 - 22:32 - 0 comments

Dubai World Gets Majority Creditor Backing For $14.6 Billion Debt Deal

State-owned conglomerate Dubai World edged closer to a second major restructuring in four years on Monday after announcing it had reached agreement with a "substantial majority" of creditors to back its $14.6 billion debt deal, Reuters reported ...

Daily Headline - global.abi.org - 01/13/2015 - 00:40 - 0 comments

Dubai's Limitless Asks For More Time After Missing Debt Deal Deadline

Limitless, a Dubai government-related real estate developer, has asked for a three-month extension to talks with creditors after failing to secure a new restructuring deal on its $1.2 billion debt pile, four banking sources told Reuters on Thursday. The ...

Daily Headline - global.abi.org - 01/08/2015 - 22:34 - 0 comments

Vitol-Linked Cockett Marine To Hire Ex-OW Bunker China Team

A Dubai-based venture half-owned by commodities trader Vitol SA has hired more than 10 ex-OW Bunker employees in China, showing how swiftly merchants are filling the vacuum left by the former top marine fuel supplier, China-based traders said on Friday, ...

Daily Headline - global.abi.org - 12/07/2014 - 21:37 - 0 comments

Dubai World Restructuring Set To Adopt Bankruptcy Law

Dubai World, the government-owned conglomerate, is set to use provisions of the emirate’s special bankruptcy law to ensure an orderly process in the restructuring of US$15 billion of debts, The National reported. A meeting of international bank credi ...

Daily Headline - global.abi.org - 12/03/2014 - 22:45 - 0 comments

Dubai's Limitless To Pledge Revenues To Get $1.2 Billion Debt Deal

Dubai's Limitless will pledge its future revenues to service debt repayments as it attempts a second restructuring of a $1.2 billion Islamic loan which banking sources said should be completed ahead of a December deadline, Reuters reported. The stat ...

Daily Headline - global.abi.org - 11/09/2014 - 20:09 - 0 comments

Dubai Insists the Boom is Not a Bubble This Time Around

Dubai, one of seven principalities that make up the United Arab Emirates, has only minimal oil reserves. Instead, the city-state has positioned itself as the hinge connecting Asia to the rest of the world, the gateway city for the fast-growing frontier m ...

Daily Headline - global.abi.org - 10/28/2014 - 22:04 - 0 comments

Emaar Chairman Welcomes Easing Of Property Prices In Dubai

The chairman of Dubai’s biggest developer has welcomed a softening in real estate prices in the emirate after two years of hyperbolic growth, the Financial Times reported. In a rare public acknowledgment of the slowdown in the emirate’s property mark ...

Daily Headline - global.abi.org - 10/27/2014 - 21:15 - 0 comments

Syndicate content