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MMG appoints advisor for debt restructuringSaudi 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 More… |
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Gulf Air union plans action against staff cutsThe 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 More… |
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RAK Petroleum wins approval for restructuringRAK 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 More… |
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Gulf Air suspends retirement planGulf 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 More… |
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Gulf Air union threatens stir against job cutsUnionists have threatened to strike unless Bahrain’s national carrier Gulf Air halts a major restructuring plan that will see hundreds of people lose their jobs, a report said. The Gulf Air Trade Union (GATU) is planning to More… |
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Bahrain MPs vote to stop Gulf Air layoffsBahrain’s parliament members yesterday voted to freeze hundreds of redundancies taking place at national airline Gulf Air as part of a major restructuring plan to safeguard the airline's future. They unanimously approved More… |
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Batelco Q4 net profit falls 26pc in 2012Bahrain's top telecoms firm Batelco Group has posted a 26 per cent drop in its fourth quarter profit, blaming the slump on aggressive competitive conditions in the Kingdom, restructuring costs for 2012 and 2013 and a number of one-off adjust More… |
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Dubai Group settles $10bn debt deal suitDubai Group, a struggling unit of the ruler of Dubai's personal investment firm, has settled with banks who brought legal action against it to secure repayment of their share of $10 billion of debt, raising hopes a wider restructuring can no More… |
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Global wins approval for debt restructuringKuwait's Global Investment House has received the backing of "an overwhelming majority" of creditors for its debt restructuring plan, the company said in a statement on Monday. The restructuring, its second in three More… |
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Ghosts of Dubai World's past may return to haunt emirateDubai World, the state-linked entity whose massive debts brought the emirate to the brink of collapse in 2009, faces the first repayment in its restructuring deal in three years time and creditors are once again growing restless. More… |
