United Arab Emirates
Results for United Arab Emirates
- Even as Restructurings Progress, Dubai’s Debt Demons Linger
State-owned investment firm Dubai Group announced its long-awaited $10 billion debt restructuring deal with creditors late on Thursday. While all bankers and advisors who took part in the often acrimonious negotiations breathed a sigh of relief, most of ...
Daily Headline - global.abi.org - 01/26/2014 - 21:31 - 0 comments
- Dubai Group Completes $6 Billion Debt Restructuring
Dubai Group LLC, an investment company owned by the emirate’s ruler, said it reached a final agreement with lenders on $6 billion in debt restructuring after three years of talks, Bloomberg News reported. Lenders agreed to extend the maturity for secured ...
Daily Headline - global.abi.org - 01/23/2014 - 21:04 - 0 comments
- Dubai Group Signs $10 Billion Debt Restructuring Deal
Dubai Group has signed a $10 billion debt restructuring deal, two sources with knowledge of the matter told Reuters, marking the end of a perilous period which saw the emirate risk collapse under a mountain of debt obligations, Reuters reported. The unit ...
Daily Headline - global.abi.org - 01/16/2014 - 22:25 - 0 comments
- Dubai’s Crisis-Hit Nakheel Sees Debt-Free Future
Nakheel, the Dubai government-owned developer that restructured $16 billion of debt three years ago after being hit by a sharp drop in local real estate prices, is now aiming to pay back much of those borrowings early and eventually become debt-free as p ...
Daily Headline - global.abi.org - 01/05/2014 - 22:19 - 0 comments
- Dubai Offices Vacant With Multiple Owners Structure
The Index tower on Dubai’s answer to Wall Street has 23 floors of empty offices out of the 25 it opened in 2011, Bloomberg News reported today. The office space in the Index on Sheikh Zayed Road was sold in pieces to nine different investors under a syst ...
Daily Headline - abi_admin - 12/23/2013 - 12:30 - 0 comments
- Mortgage Caps Spark Developer Ire as Dubai Rebounds
New caps on mortgage lending will soon come into force in the United Arab Emirates, part of a long-running effort by the country’s central bank to keep real estate markets in check and avoid a debt-fueled bubble. And not everybody’s happy, The Wall Str ...
Daily Headline - global.abi.org - 10/30/2013 - 21:05 - 0 comments
- $4.5 Billion Debt Restructuring Talks Stalled
Citigroup and International Bank of Qatar are holding up negotiations to restructure $4.5 billion in debt of Abu Dhabi conglomerate Al Jaber Group, further complicating drawn-out talks, sources said, Gulf Daily News reported. Al Jaber is one of the m ...
Daily Headline - global.abi.org - 10/10/2013 - 21:20 - 0 comments
- THE INTERNATIONAL SCENE: Draconian Bankruptcy Laws Inhibit Entrepreneurship in Bahrain, Oman and the UAE
THE INTERNATIONAL SCENE: Draconian Bankruptcy Laws Inhibit Entrepreneurship in Bahrain, Oman and the UAE (citation: Robert C. Furr and Jessica L. Furr, Draconian Bankruptcy Laws Inhibit Entrepreneurship in Bahrain, Oman and the UAE, XXXII ABI Journal 9 ...
Resource Article - abi_editor - 09/30/2013 - 16:22 - 0 comments - 0 attachments
- U.A.E. Banks Seek 5-Year Extension to Comply with New Regulation
Banks in the United Arab Emirates are seeking five years to comply with a central bank regulation to limit their exposure to government entities in the second-biggest Arab economy, Bloomberg News reported yesterday. The banks are also seeking to exclude ...
Daily Headline - abi_admin - 07/16/2013 - 21:44 - 0 comments
- Dubai Accelerates Asset Sales as $30 Billion Debt Deadline Looms
Dubai, which teetered on the brink of default in 2009, is accelerating asset sales as more than $30 billion of debt repayments come due next year, Bloomberg reported. Dubai Financial Group yesterday agreed to sell its stake in consumer lender Dubai First ...
Daily Headline - global.abi.org - 06/23/2013 - 19:56 - 0 comments