United Arab Emirates

Results for United Arab Emirates

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

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 - 22:04 - 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 - 23:25 - 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 - 23:19 - 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 - 13:30 - 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 - 22:05 - 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 - 22:20 - 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 - 17:22 - 0 comments - 0 attachments

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