Wednesday 23 April 2014
 
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restructuring

Dubai confirms final debt deal

Financial services conglomerate Dubai Group has reached a final deal with creditors on restructuring $10 billion of debt, resolving the last major hangover from the emirate's financial crisis, its parent company confirmed. Len

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Dubai Group signs $10bn debt restructuring deal

Dubai Group has signed a $10 billion debt restructuring agreement, two sources with knowledge of the matter told Reuters on Thursday, bringing an end to the last major hangover from the emirate's 2009 financial crisis. The inv

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Gulf Air restructuring strategy is paying off

Gulf Air's restructuring plan is paying off as third-quarter financial and operational results show that Bahrain's national carrier is on track to achieve its annual targets. Benefiting from a strong summer, optimised capa

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HSBC to cease wealth products in 3 ME countries

HSBC Holdings will stop offering wealth management products in Bahrain, Jordan and Lebanon as the British lender continues to exit small or insufficiently profitable operations globally as part of a strategic review, the bank said.

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Gulf Air restructuring on track, losses down 50pc

Gulf Air, the national carrier of Bahrain, has reduced its losses by more than 50 per cent as a result of a major restructuring strategy during the first six months of the year, a report said. Officials said the figures show a thr

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Global completes $1.7bn restructuring

Kuwait's Global Investment House said on Wednesday that it had completed a $1.7 billion restructuring plan, the second at the firm since the global financial crisis. Under the plan, Global separated its core fee business from

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MMG appoints advisor for debt restructuring

Saudi contractor Mohammad Al Mojil Group (MMG) said on Monday it had appointed the investment banking arm of Gulf International Bank to advise it on a restructuring of its debts. No value of the amount of debt being restructured w

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Gulf Air union plans action against staff cuts

The trade union members of Gulf Air, the national carrier of Bahrain, met yesterday (May 14) to draw up a plan of action if Bahrain's national carrier resumes compulsory redundancies, a report said. The union now plans to writ

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RAK Petroleum wins approval for restructuring

RAK Petroleum, a UAE-based energy investment company, said it had won approval from its shareholders to restructure the company and its subsidiaries and also seek a listing on an international stock exchange. The proposed restruct

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Gulf Air suspends retirement plan

Gulf Air, the national carrier of Bahrain, has agreed to suspend its compulsory retirement scheme due to the success of a major restructuring programme, a report said. The decision was taken following a meeting between Gulf Air, t

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