Tuesday 29 July 2014

Zain Saudi postpones $2.6bn loan maturity

Indebted telecom operator Zain Saudi has for a second time extended the maturity of a SR9.75 billion ($2.6 billion) loan by two months, it said in a bourse statement on Saturday. "The firm announces that on September 26 it ha


UAE banks to extend personal loan maturities

The United Arab Emirates' central bank has told lenders to extend maturities on certain personal loans held by UAE citizens by more than four years, the latest initiative aimed at reducing their debt burdens. In a circular sen


New rules to boost Kuwait capital markets

Kuwait's new loan-to-deposit ratio rules for banks are aimed at encouraging capital market development, improving asset-liability matching and boosting credit supply, the country's new central bank governor said on Monday. Under legislatio


Dubai 'has options to handle debt maturities'

Dubai has several options to handle its upcoming debt maturities and refinancing requirements, mainly thanks to reviving economic growth and stable income streams, a senior executive at Deutsche Bank said. "There are many options to handle


Global repays $70 million bond

Kuwait's Global Investment House said on Wednesday it has repaid on maturity a KD20 million ($69.81 million) bond. It said the bond matured on Wednesday. "Settlement of KD20 million bond on its due date of December 23, was one of t


Abu Dhabi gives Dubai $10bn in surprise bailout

Abu Dhabi stepped in to help fellow United Arab Emirates member Dubai with a $10 billion injection, of which $4.1 billion was allocated to troubled state-owned conglomerate Dubai World to pay immediate obligations, Dubai said on Monday. Th


Kipco to extend $140m bonds maturity

Kuwait Projects Company (Kipco), the country's biggest investment firm by assets, said it will extend the maturity of KD40 million ($139.5 million) worth of bonds by one year. The bonds' maturity date will be extended to November 5

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