United Arab Emirates

Results for United Arab Emirates

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

Dubai World Close To Debt Restructuring Deal Trigger

Dubai World has secured agreement from more than 60 percent of its creditors to reschedule its debt repayments, a top government executive told Reuters, putting it close to the two-thirds assent needed to change the existing terms. Dubai borrowed heavily ...

Daily Headline - global.abi.org - 10/02/2014 - 20:52 - 0 comments

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 - 20:06 - 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 - 18:25 - 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 - 18:26 - 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 - 21:18 - 0 comments

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