Friday 11 July 2014

Algosaibi seeks truce in debt dispute

Long-stalled talks on one of the Middle East's largest debt restructurings are due to resume in Dubai on Wednesday, though those involved in the process are cautioning any agreement to pay out even a small amount of the cash owed to creditor


Saudi's Algosaibi calls creditor meeting in May

Saudi Arabian conglomerate Ahmad Hamad Algosaibi & Brothers has called a meeting of creditor banks in Dubai on May 7 to discuss a proposed settlement of billions of dollars of unpaid debt, commercial bankers said on Monday. Th


Nakheel plans creditor sukuk issue

Dubai property developer Nakheel  plans to issue the second tranche of its Dh4.8 billion ($1.31 billion) Islamic bond (sukuk), to trade creditors by the end of April, the company's chairman said on Wednesday. The first portion of


Time running out for Greek debt accord

Greece's prime minister scrambled on Sunday to convince lenders and politicians to sign off on a 130 billion euro ($171 billion) rescue, after his finance minister said just hours remained to clinch a deal to avoid a messy default. A t


Greek creditors call for debt deal

Greece's private creditors have pleaded with European officials who rejected their bond swap offer to hammer together a deal before Athens tumbles into a chaotic default. Athens' hopes for a swift deal with lenders were evaporating after e


Creditor claims 'could delay Dubai debt deal'

Dubai's special tribunal, set up to hear cases against indebted state firm Dubai World, could throw efforts to restructure $26 billion in debt into disarray if just one creditor files a claim, legal experts say. Dubai World is lobbying ban

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