United Arab Emirates

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Dubai Amlak's Shareholders Back Debt Restructuring

Shareholders of Dubai's Amlak Finance met for the first time in more than six years on Sunday and backed a key component of the mortgage provider's $2.7 billion debt restructuring deal, Reuters reported. Amlak's future has been in the bala ...

Daily Headline - global.abi.org - 09/28/2014 - 21:06 - 0 comments

Dubai World Debt Restructuring Deal Soon, Shaikh Ahmad Says

State-owned Dubai World is set to reach a deal with creditors to extend repayments on its $25 billion (Dh91.8 billion) debt, according to one of Dubai’s top government officials, Gulfnews.com reported. “I can say for sure we will reach it. It is there an ...

Daily Headline - global.abi.org - 09/21/2014 - 19:25 - 0 comments

Dubai’s Limitless Holds “Positive” Talks On Debt Restructuring

Dubai government-owned property firm Limitless has held positive talks with creditors as it seeks to re-negotiate the terms of a $1.2 billion debt facility which has already been restructured once before, its chief executive told Reuters on Sunday, Gul ...

Daily Headline - global.abi.org - 09/21/2014 - 19:26 - 0 comments

Dubai's Amlak To Hold Talks On Restructuring Plan On September 21

Dubai mortgage lender Amlak Finance said on Wednesday that it would hold a shareholder meeting on September 21 to discuss its restructuring plan and a proposed issue of equity-linked bonds, Arabian Business reported. Creditors of the company, whose share ...

Daily Headline - global.abi.org - 09/03/2014 - 22:18 - 0 comments

Abu Dhabi's Al Jaber Group Signs Debt Restructuring

Abu Dhabi-based conglomerate Al Jaber Group has signed a debt restructuring deal with its bank creditors, the conglomerate said on Monday, addressing one of the United Arab Emirates' last big debt hangovers from the global financial crisis, Reuters ...

Daily Headline - global.abi.org - 06/16/2014 - 22:29 - 0 comments

ANSA/Alitalia Set For Painful Restructuring

Italian carrier Alitalia is in for some "painful and arduous" restructuring but should see a deal with Etihad Airways in a matter of weeks, the airline's chief executive officer said Monday, Gazzetta del Sud reported. Gabriele Del Torc ...

Daily Headline - global.abi.org - 06/09/2014 - 21:18 - 0 comments

Etihad Details Criteria For Equity Investment In Alitalia

The UAE-based Etihad Airways has said that it is pressing ahead with a plan for an equity investment in the struggling Italian carrier Alitalia, The Economic Times reported. Etihad Airways, which has been in negotiations for almost a year, said it wi ...

Daily Headline - global.abi.org - 06/02/2014 - 21:42 - 0 comments

Dubai Agrees Refinancing Deal

Dubai has received a financial boost thanks to an agreement to refinance at preferential rates $20bn of bonds and loans owed to the central bank of the United Arab Emirates and its capital, Abu Dhabi, the Financial Times reported. The Gulf’s commerci ...

Daily Headline - global.abi.org - 03/17/2014 - 00:02 - 0 comments

Bank of America Merrill Lynch Red Flags Dubai’s Debt (Again)

Dubai’s global financial crisis-induced slump, followed by a less dramatic, but equally sharp, recovery make for a compelling story. The endless flow of positive news in the desert emirate culminated late last year in Dubai winning the hosting rights fo ...

Daily Headline - global.abi.org - 03/11/2014 - 23:06 - 0 comments

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 - 22:31 - 0 comments

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