Sunday 29 March 2015

Egypt to pay $1.5bn arrears to foreign oil firms

Egypt promised on Wednesday to pay $1.5 billion of the $6 billion it says it owes oil firms, hoping the announcement made at an investment conference will revive confidence in an economy battered by nearly three years of political upheaval.


Bahrain’s LMRA to recover arrears from firms

Around 3,500 businesses in Bahrain owe the Labour Market Regulatory Authority (LMRA) around $1.14 million in arrears, said a top official, adding that LMRA will start receiving requests from Sunday. The figures were revealed as officials a


Nakheel arrears less than feared, says Arabtec

Cash-strapped Dubai developer Nakheel is not in arrears to Arabtec as much as some analysts fear, said Ziad Makhzoumi, chief financial officer of the largest builder in the UAE. Arabec, which expects to receive an overdue payment by end-Ju


Iranian banks 'have $38 billion loans in arrears'

The Iranian banking system has loans worth $38 billion, almost twice its amount of capital, in arrears, a senior official said in remarks published on Saturday, describing it as a 'serious problem'. Mostafa Pourmohammadi, head of t

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