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Dubai Group assets 'worth fifth of $10bn debt'Investment firm Dubai Group's assets are worth just a fifth of its $10 billion of debt, sources involved in its restructuring said, signalling creditors signing up to a debt deal may face big losses without a major improvement in values. More… |
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EnQuest buys into Tunisian offshore assetsGlobal oil and gas explorer EnQuest said it would buy a majority interest in Swedish company Par Resources AB's offshore assets in Tunisia, diversifying further from the UK North Sea region. EnQuest will acquire a 70 per cent More… |
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Asiya to tap booming Islamic investment marketKuwait-based Asiya Investments is tapping into the surging regional demand for Sharia-compliant investment options, with a product that harks back to the 'silk and spice routes'. The company has launched a trade finance fu More… |
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Investment Dar offers new settlement to creditorsKuwaiti investment house Investment Dar has offered to give creditors a stake in a portfolio of assets in exchange for their debt as an alternative to an offer made under a KD1 billion ($3.5 billion) debt restructuring plan agreed in 2011. More… |
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EFG plans assets sale as Qatar deal failsEFG Hermes, one of the largest investment banks in the Middle East, plans to cut costs, sell non-core assets, and return cash to shareholders after a planned tie-up with Qatar's QInvest failed on Wednesday. EFG had agreed the More… |
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Tunisia recovers $29m from Ben Ali's wifeTunisia received $28.8 million on Thursday in the first such retrieval of what it calls looted assets held abroad by ousted President Zine El Abidine Ben Ali and his family. The state news agenc More… |
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DP World net profit surges 21pc to $555mDubai-owned port operator DP World on Wednesday reported a 21 percent rise in 2012 profit, boosted by monetisation of non-core assets and growth in emerging market operations. The world's third-largest port operator reported a More… |
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Egypt freezes assets in share trading probeEgypt has frozen the assets of 23 businessmen pending investigations into alleged stock market manipulation during the sale of Egypt's Al-Watany Bank to Kuwait's biggest lender in 2007, a source in the public prosecutor More… |
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Mena-domiciled funds assets soar to $89.6bnThe total assets of funds domiciled in the Middle East and North Africa (Mena) region increased by three per cent in the first half of 2012 to hit $89.6 billion from $87.8 billion at the the end of 2011 on the backing of a major surge in money m More… |
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Qatar to list planned $12bn investment firmThe new $12 billion investment firm planned by Qatar will be listed on the local stock exchange and invest in in assets around the world, its main institutional backer said. The firm is backed b More… |
